OfflineIts been a struggle with myself trying to put all of this Investing information together. I feel like I'm in a world where everyone is connected and knows the ropes except me. "WOW"... is all I can say. I ready to put my skates and roll with this new freedom choice I've found. If there is anyone out there from the city that never sleeps who can offer some networking and guidance. please PM me.
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What exactly are you looking for???
I'm looking for some help. Ive read the books I even joined the Success Academy. I'm trying to figure this whole this out about investing in NY with out that much money and fair credit score.
Overcoming fear and uncertainty is going to cause success! If you're trying to figure out the NY market, let me know. I live in Orange County, NY. Pick up the phone and call realtors. Don't be afraid to let them know you're a real estate investor ( if you don't want to say that ) just say you work with real estate investors and you're getting deeply involved in buying and selling real estate and that you're looking for a motivated realtor to be on your team.
Know your neighborhood. Have you driven around and looked for the tell tale signs of vacant properties yet? If not it's fun so please do it. Look for overgrown grass, phone books at the front door, look at the electric meter and if it's not spinning then you've hit a potential homerun hit! Get a GPS too and record the address and then look up on the county auditor or tax accessor website to see who owns that property. If it has an out of state address and a name then send a post card to the address and NOT A LETTER!!! Post cards are the mail that everyone reads plus it's a few cents cheaper and more convenient to jot down a quick message to the home owner. Make them curious so they'll call.
The most valueable investment you have is the six inches between your ears! Invest in yourself and your income will steadily incline. You can PM anytime since I'm about 60 miles north of NYC. Best of luck.
Gary Rabatin
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"
MECEAY,
Your best option is to
1. Find the homes
2. Find the buyers
3. Find a great realtor. I happen to be a great realtor
4. Network
Not saying it is impossible to do assignments, but most owners in the metro-NYC don't know what it is and if it involves signing something over to a total stranger, it just ain't gonna happen; i've had a ton of people from here ask me why that is and its pretty simple; sounds too good to be true.
Especially if they are selling their homes with no realtor, why would they sign papers with a total stranger???
Your best bet would be to get your fee from the buyer(s), that way you can put the seller at more ease and tell them something like
"I'm not an agent, but I have people who may be interested in your property and they're paying me, not you. Can I speak with you to help you sell your home??..."
More tips to continue.....
1. Find homes
Not sure where you live but if you drive around your nabe or nearby you'll find an empty house with no listing sign that looks desheveled, unkept and most importantly,.....empty. Write the address down, research, and then plan your next course of action
2. Find buyers
Like i've said, everyone on here can claim to be buyers, but if they don't have the cash and your getting money is depedent on them finding buyers, why not just find the buyers yourself??? If they say they are buyers, ask do they have cash, not 'transcational funding' and ask if they are willing to show a bank statement if need be. They may counter with wanting to know address. That's up to you to reveal but i'd stand strong, let them know you have more to lose.
Once you find your buyer, set up a finders fee agreement, either for each individual house or for a block of 10 per agreement; having a multihome agreement shows him you're serious and since its a set fee, he may see it as a bonus
3. Great realtor
If you need help closing deal, researching, etc. Before you provide me or any other realtor with address, make sure your fee agreement with buyer is in place before you refer your buyer to realtor
4. Network
Best way to expand buyers list, sellers list, etc in NYC; you have to be uot there and people have to know who you are. Once they do and feel comfortable, you'll get leads, new sellers, lawyers who have clients looking to sell, title companies who think you might be able to sell something, etc. NETWORK.....WETWORK......NETWORK.....Sometimes you got to live rapper hours to get that client or connect but its generally always worth it
Hope it helps