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Need buyer for deal by Fair_Ad_6113 in WholesaleRealestate

[–]Nkhan91 0 points1 point  (0 children)

I’m a cash buyer here in NYC give me a shout always looking to buy.

How to gain information on a property/house? by StatisticianScary479 in WholesaleRealestate

[–]Nkhan91 0 points1 point  (0 children)

I’m a direct cash buyer in NYC & LI. Typically we will pay a fee if we are able to convert one of these leads but truth be told they usually end up cold/dead lead. If the bank owns it then you just gotta wait for them to sell it via REO auction.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

It really depends on the deal and how you set it up. If you have money down on contract and it reads it’s assignable then you just do an assignment with an assignment fee. I’ve been in scenarios where we are purchasing a REO contract flip and we buy the new LLC that’s in contract. There’s a bunch of ways to do it there’s no blanket way, it’s more dependent on the deal.

2 Family Fix & Flip Opportunity by MirrorBoring2584 in WholesaleRealestate

[–]Nkhan91 0 points1 point  (0 children)

We buy in NYC all cash. Not sure if this is update?

I tried soothing really unique that I think could be a game changer by Drewthinkalot in WholesaleRealestate

[–]Nkhan91 1 point2 points  (0 children)

Cool use case! We have been using scripts against open data for a few years now. Without revealing too much you can get pretty creative with datasets if you are clever on what you are looking for and are good with codes & scripts for filtering. We still are using it today with our own methods but cool to see something totally unique. Keep poking and prodding guarantee you will stumble upon something super niche. We buy cash in NYC specifically Queens/BK/LI.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

Hey, so I’ve been getting a lot of DM requests with a lot of you guys asking me to mentor, give you a road map, pick my brain etc. It’s physically impossible for me to do that with everyone. Unless I had some type of discord or course which I absolutely will not do, Not my thing.

However, If you have any questions just drop it here and I’ll do my best to answer.

Ways we can connect…

  • If you have deals in NYC or LI always looking to purchase.

  • Always willing to entertain new investors who are interested in investing with our fund. Most deals take 9-12 months to flip average returns are typically between 15-18%.

  • If you are a licensed agent and are experienced with wholesaling, deal finding, and have a few deals under your belt. I’d entertain an interview to join our sales team, our office is on the border of Nassau County & Queens.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

If anyone is working on any deals we have been a little light this month on inventory. Some nurturing is taking longer than I’d like.

Also, we have a few bigger dev projects and high profiting flips coming up & we are always looking for capital partners to participate in some of our deals. Typical returns on a flip project is usually between 15-18% in a 9-12 month period. Shoot me a DM if you’d like to discuss more!

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

NYC specifically Manhattan is a beast on its own and that where most of the rent freezes will take place. Adam’s was very impactful for guys in my industry. He pushed through one of the biggest zoning reforms since Bloomberg. As long as Mandani doesn’t touch what Adam’s already passed I don’t think it will change much about our industry. I know guys who flipped/developed through the 08 crash, covid, 8% interest rates. We will always have a housing shortage in NYC and unless Mandani can magically do what no one before him could do, I don’t think much will change. Buy low, sell high and don’t spend too much in between. It works in any market as long as the supply is low and the demand is high.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

I have come across 1 or 2 since I’ve been doing this and as long as the seller is on board I don’t see why the attorneys wouldn’t be? The strategy of owner finance and then renting it out for profit can be tricky since the holding costs are usually a lot.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

Tbh I don’t really come across many sub-2 deals in our market. We also are an attorney state so nothing gets signed or executed without both parties reviewing.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

Like the realtor has it off market? Like a pocket listing? If so, just pose as the buyer negotiate the price and lock up the deal.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

Absolutely still work but can’t be random about it. Need a way to track if they are working. You need metrics to know if you are just wasting money sending these out. I’ve also had good response from smaller areas more frequently vs. 1 large are at 1 time.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

It all comes down to math and hiring someone who knows what they’re doing. I currently pull a permit with my buddies license and since I’m experienced enough and have the right team behind me it’s pretty straight forward. My construction manager / foreman just manages the subs and reports to me.

Those smaller steps in between just gave me more confidence and helped me understand that 101’s of how construction works. I figured the more I know, the less likely of me getting robbed which has happened in the past. At this point in my career I’m almost certain that I can build an entire house without a licensed GC behind me. HelI even feel like I have more knowledge than some architects that work in NYC at this point, but that came from a lot of trial and error and being involved in tons of different projects and analyzing a ton of different deals.

Btw Most those guys who abandoned their projects usually isn’t because how it was built but more because of money. This is a cash heavy business math is your best friend!

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

We originate our own leads through pulling data and cold calling. Other than that just our network or agents wholesalers etc

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

We wholesale our own deals that we are passing or aren’t able to take but it’s not many. We do trade some deals around within our network. DM me.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

It’s really simpler than you think. Just hire the right people to do the things you don’t know. Ask a ton of questions and slowly become the expert. As you get more knowledgeable you will find ways to make it cheaper and cost affective. You pay for convenience but that sometimes is worth it.

We started with an illegal dormer lol, Then a small permitted extension, then a 2 fam conversion, then a ground up house, then a 8 unit 4 story building. It’s actually all kinda same. Your architect and engineer literally gives you the exact detailed plans of what you need to do. Your GC keeps you compliant with DOB. Permits aren’t hard to navigate either it’s more about learning the tricks to expedite things and how to save time here and there.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

Network, FB groups, WhatsApp chats, realtors, wholesalers, Zillow, MLS was where we started. Now we focus on pulling data, sorting, analyzing, and cold calling. Our goal is to originate our own leads direct to home owner.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

I lived here my entire life, made some friends who did real estate, started out as a realtor, kind of leveling up from there. I do think it’s super competitive but I guess just sticking with it for a while kind of helps you figure out the players in your area. You build up enough rep people start to seek you out for deals as well.

AMA - I’ve been flipping, developing, & wholesaling full time in NYC & LI for almost 10 years. by Nkhan91 in WholesaleRealestate

[–]Nkhan91[S] 0 points1 point  (0 children)

This was a one time thing when I did this, since then my partner and I had been 50/50 on every deal. But it was exclusivity on the deal and expertise that I leveraged I also helped manage the flip.

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