All Forum Posts by: Virgilio Garcia

@Lawrence L.

@Omar Sanchez

Hey guys. 

i know we are all interested in REI. just thought you would like to join us in a mastermind meet up in the Bronx. location and time is listed above. i hope to see you there.

@Ceasar Rosas

Yes! i am in. 

location and time is good. I will see you all there. 

@Vincent Park

Welcome to BP, there is a lot of info you may find useful. and the ability to network with all sorts of people in real estate is priceless.  

@Omar Sanchez

Hey i have seen that rentometer.com click here

can tell you average rent prices in areas you are looking into. 

Hi @Depak Paten, 

while i am not yet in a position to offer sounds advice, i wanted to stop by and congrats on all your acquisitions. i would also like to follow this post and learn something. i am sure someone will stop by and give you some great advice. stick around. 

@Nicole (Dunlap) Pendergrass

Thank you for your input. 

I see what you are saying. also, would the property have to be free and clear ? 

@Isuf Aruci

I can agree with your comment about getting to know the area and getting a feel for it. I just wanted to ask, how do you figure in 5 years, areas like Pelham will appreciate in 5 years? is this just normal cost of living going up? is their new construction going on ? i just want to get a idea of how you go about fining this information and maybe apply it to other areas like Woodlawn, Throgs neck or Edenwald.

These seem like moderate locations that are not to low like the Soundview, Hunts point are , or too high like the Riverdale,  Fieldston areas. 

@Jaysen Medhurst

i see what you are saying, things brings up something i've been wondering for some time. i work in Queens by long island city and every where i turn, there is this high rise luxury rentals coming up. Their like weeds every where. i am actually taking a photo of one every other day outside my office window. its almost higher than my fifth floor view. 

anyway, the rent on these units are really high. 

I think its safe to say that no city employee is going to enjoy these luxury rentals because of the rent prices.

so,

it seems like the people who will inhabit the high rises, will come from some place else.

what happens if and/or when these people leave ? 

also with the wealthy people moving in, that will drive up the property prices in Queens even higher, wouldn't it ? 

i am no expert, i am on this site to learn and share opinions and hopefully gain as much knowledge as possible. 

Hello BP its me again with another question. 

can anyone who has dealt with a lease with option to buy, discuss how that type of financing works or does not work well. 

I want a multifamily in the Bronx area and here in NYC prices are high and this down payments are high. A lease with option to buy sounds like a good idea where let say i am halfway to saving up cash for the down payment, i can get a lease with option to buy and save up the rest of the cash for the down payment. 

any experience, knowledge, ideas and wisdom is greatly appreciated. 

thank you BP. 

@Cesar Torres

welcome to BP, i have only been on for a sort time but got so much info and meet some nice people. i recommend you read the ultimate beginners guide to real estate investing. also don't forget to listen to the podcast. if you have a IOS or android phone, you can download the app and listen to the all the podcast. 

i hope to see you around the site.