Long Island, NY Investors

I am not sure if I can be of assistance to you at this point as I am new investor in the metro NYC area myself, but I am always looking for fellow investors with whom to network in and around the area. Let me know if you want to chat.
Nick

Sure, I definitely would want to chat with you. I'll send you a PM so I can give you my information.

Welcome to the DG family, we're glad to have you here! Please start with the links on the bottom of this reply. Have you read Dean's book? That's another start. Then if you have questions after that please feel free to ask we're all here to help you.
Good luck with your REI journey!

It's really nice to know that I have family here. Because my real family (husband especially) is not that supportive. But I'm going to show them that I can do it, and they are wrong about what they say that this is all a scam. Thank you for letting me know that you guys are here to help.

Sharon

You're singin' to the Choir honey!! I have 0 support too, but I did it and I made a pile of cash, so I KNOW it's not a scam!! So if you EVER need some encouragement or support you just let me know, I'm here for ya honey!
We'll show ALL those nay sayers when we're sipping our mai tai's on the beach in the Bahamas or Hawaii!! ;D

You're the best!

Just been there, done that and I know how hard it is to stay motivated and be positive girl. We gotta stick together and show 'em!

don't worry about what everyone thinks. What matters is that you are one here and making it happen. i am lucky to have a supportive wife but what really matters is that you are doing something you are passionate about.

Hi Everyone (Hi Elena; you've replied to one of my Newbie questions...thanks),

I'm also fresh off the press too..only order Dean's book and "Become A Real Estate Millionaire Home Study Program" which I just found out is really exactly the same as the "Think A Little Different Program" 4 days ago though I had been researching it for about 2 weeks prior.

It's nice to know that there are some of you in my area and I would like to hit the ground running hard and fast. While waiting for the book, I've been reading all the forums, doing the exercises in the 30 Fast Start Audios, and just reading all the extensiive info on this site as I can.

I am a Single Mom and unfortunately have no cash and bad credit (which at the same time will try to clean up). I, therefore, will probably start with the Assignment/Bird Dogging and Instant Equity, both which I need to learn.

If you feel this is the best way to go, let me know and if you can help or give some advice.

If there are other ways/methods, please also let me know and help or also give advice.

I appreciate whatever assistance and support I can get. Thanks again!

Glad to see you here and still pursuing it. I'm a single mom too, with NO support, so I understand where you're coming from. What you need to do is learn what a good deal is. Do the numbers, research values in the area you want to invest in. Do your homework thoroughly, so when you lock in a contract you take out all the risk and it's a calculated good return on your investment. Then you will have something of value that you can assign or use any exit strategy that will work best. The key is buying it right so you have a good deal for someone else.
God bless you,

You can also look into Lease/Options which is another great strategy to start with no money. You get cash up front, some cash flow in the middle, and a profit at the end. You control the property and don't have to use your credit or cash. Sully has some information regarding Lease/Option on a forum in here I don't recall the name of it. But if you search you would run into it. Enjoy and have fun

I apologize for not replying to you sooner as I've been focusing on reading through the materials, listening to the 30 Day Fast Start Audios at the left and doing each of the exercises.

I really do appreciate all the information you have provide yet again as well as the support. One of the positive things about being a single Mom (I always look at the positives or the learning or lesson behind any situation) is at least we have no one to answer to or to hold us back. LOL I will heed your advise in learning what a good deal is, especially to avoid whatever risks there may be.

I also decided to sacrifice now to gain much more later by pursuing the Coaching program. I've already had my preliminary interview with someone who was very happy to recommend me to the coach for a further interview due to my drive, commitment and the steps I have already taken so far. I realize in the long run by working with a coach closely now will help springboard my success; being able to replace the $$ that is supposed to saved & used elsewhere 10 times over.

Thank you again and Wishing you the very best!!!

Love, Light & Blessings,
Darlene

Hi,

Thank you for answering my questions. I apologize for not getting back to you sooner as I mentioned to Elena, I've been extremely focused on working with the materials. I will definitely look at Lease/Options and check into Sully's information he has posted. One question though. I do understand what you laid out, however, if I ware to use this method, this then would mean I'm carrying a mortgage. If I assuming this correctly, then credit would come into play would it not? Please let me know.

Thank you

No need to apologize, I'm glad you're focusing on what's important. The materials will teach you a lot very quickly so read and re-read them. In answer to your question; NOOOO, a lease option doesn't mean YOU are carrying the mortgage. The Owner of the home carries to mortgage, then YOU lease it with he/she knowing that you will be leasing it to another end buyer. The end buyer pays the deposit, the monthly payment and you get a little cash flow as well as some of the deposit. Then if they buy it you also make more in the sale... The key is to negotiate a good price with the seller and make up the difference from the buyer.
So you are actually the middle man that connects the two and collecting a fee to do so. Does that make sense? It's a beautiful thing.
God's continued blessings for you,

I really do like the Lease/Option and how it plays out.I guess you can say it kind of like Bird-Dogging but instead of finding properties for investors, your finding the Leasee for the property you've identified a flexible seller Boy do I have a lot to learn!!!

As always, thanks again for our very insightful information. God Bless

I love your enthusiasm!! Yes, there's many beautiful ways to make money in real estate. That's why I LOVE it so much! Don't worry you'll learn it in no time. It's NOT difficult to do this stuff it just takes practice and doing your homework.
God bless you,

Thanks Elena. My eyes continue to be open with the various strategies that allow me to say to myself "Yes, I can see how these can work for me." I can't wait to finally go out there to apply what I'm learning...just hope I won't be toooooo nervous.

May God continue to watch over you.

Hey, being nervous is ok! I am nervous everytime I talk to a home owner, because I'm SO excited to get the deal... LOL! They don't know you're nervous because they don't know you, so you're the only one who actually knows you're nervous! I made mistakes and I even signed the wrong line on the last deal I did, talk about nervous right? I felt SO stupid, but the owner was understanding and didn't laugh at me or say anything about it, he just crossed off buyer and put seller and that was that. So don't worry about it, if you're human you're going to be nervous, scared, excited, anxious and everything else on your first, second, maybe even third or fourth deal... But when you have that big fat check in your hands you won't even remember what you were nervous about!!

Ahhhh... that's what I felt when I read your reply.

You're right; I'm the only one that knows that and hey, they are probably new at this (their situation) too.

Now that's talking...Again, you're so right...I had to smile at this one

I will definitely let you know when that happens!!!

God Bless

I talk to so many people who express the same fears, myself included. But when I finally closed on my last deal I knew that it wasn't a perfect world and that it's ok to make mistakes like that. The mistakes you DON'T want to make is buying wrong and paying too much for a property or buying a dud. I've done that too... LOL! Live and learn, it's all a process!

It's good to know that even with minor mistakes, it still all works out. I know the entire process will get easy because.....

yesterday after being interviewed by one of the Success Academy Directors, I was invited and joined the Mentoring program! So all of this nervousness or worry of making a mistake which I realize is Ok should get less & less as they take me step by step. I JUST CAN'T WAIT FOR MY FIRST DEAL!!! I AM ALMOST BUSTING INSIDE!!!

Well, I believe it's a people game, not just a numbers game. I got into it to help people, not just to get a good deal. But that's just me.

Your are absolutely right, it is a peoples game. It's all about helping people on both sides of the table. You have to be sincere and with good intentions. I know I wouldn't be able to sleep at night if I weren't 100%.

You know one of the things that bothered me about taking someones house away due to foreclosure was now this poor family has less money than their house is worth and now where are they going to go. Initially, this was alway something in the back of my mind. However, after reading about the Lease Options, I realize I could actually help those that just lost their home, to reestablish residence in another home & credit. Also, the idea brought up about the Lottery is a great one too because this same family(ies) can enter for a chance to win another home too. I'm finding out not only different strategies in making deals but different strategies that can help everyone involved.

Many Blessings,

i am looking for individuals that would like to network together. i like helping other individuals as much as receiving help from investors also. many minds are greater then one. i living in long island, ny and if you are from here you should be aware how the market is doing here. it is terrible. these homeowners need our help as well as the big time investor who can get marvelous deals right now. there is room for all to have a win situation.

Hi Natalia,

I'm located on the island too. I'm starting to build my buyers list, researching preforeclosures in specific areas, reading a ton of info on assignments, contracts, networking, joining REI groups...ect.. This site is really an amazing resource!

You are absolutely right as far as people needing our help. I can't believe the amount of preforeclosures here. It's crazy! It's also sad, but it's a great opportunity to create the win win situation:)

How about you?

Jennifer

I am in manhattan and I would love to network with the both of you. I have looked a many properties in Queens and Brooklyn and a couple on the south shore of LI around five towns.
Look forward to hearing from you
Nick

hi jennifer. yes i love dean's tools also. how did you get into the wonderful world of real estate?

in what areas of the island are you researching?

i just started making my buyers and sellers list also. i have been in the real estate business for a few years now, but until reading dean's BARM, i have never actually thought about investing in real estate with no money down. i personally did not think i was impossible. but with gaining knowledge i am getting closer to my main goal. what can you tell me about yourself

I am from Queens NY. Did anyone find an investors club for NY that actually has a decent showing? I looked up a few on the internet but there were not too many people registered.

There are two that I know of that are worth going - the first is called NYCREIA which is held in Manhattan (30th/7th) the last wednesday of every month and the Big Apple REIA is held in the Bronx on the last Thursday of every month.
Hope this helps , and I suggest goiing to at least one of these every month. If you are a rookie or a veteran, you can network with many valuable individuals who you can partner with in the future. Just be aware of the wanabees who could waste your time.
There is much value in these meetings so attend them.
Good luck

I will look into them. I notice most have a fee to join.