Category: New York Lessons
Staten Island Discounted Property: $21.71 Per Square Foot
January 5th, 2009I want to share with you some information about a property in Staten Island located at 2701 Goethals Rd N Unit: 5F. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
Let's take a closer look at some calculations for this 2 bedroom, 1.00 bathroom property located at 2701 Goethals Rd N Unit: 5F that has an asking price of $38,000.
| Price Paid (% of Asking Price) | Price/Square Foot |
| $45,600 (120%) | $26.06/square foot |
| $43,700 (115%) | $24.97/square foot |
| $41,800 (110%) | $23.89/square foot |
| $39,900 (105%) | $22.80/square foot |
| $38,000 Full Price | $21.71/square foot |
| $36,100 (95%) | $20.63/square foot |
| $34,200 (90%) | $19.54/square foot |
| $32,300 (85%) | $18.46/square foot |
| $30,400 (80%) | $17.37/square foot |
As you can see from the table above, if you know what a typical Staten Island property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
If you had the chance to get out some really great and effective marketing for FREE, wouldn't you do it? Find out one of the techniques we employ to use FREE MARKETING here: Buying Houses with Flyers. There are plenty of deals in the New York area, but, who's going to find them - you - or that other guy?
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Amsterdam Price Per Bedroom Analysis on Amsterdam, NY Real Estate Deal
January 3rd, 2009Here's another Amsterdam property that was submitted by a user that we will use as a teaching tool for our New York Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 158 Guy Park Ave, Amsterdam, NY 12010.
Since this 3 bedroom, 1.00 bathroom property has an asking price of $16,200, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.
| Price Paid (% of Asking Price) | Price/Bedroom |
| $19,440 (120%) | $6,480/bedroom |
| $18,630 (115%) | $6,210/bedroom |
| $17,820 (110%) | $5,940/bedroom |
| $17,010 (105%) | $5,670/bedroom |
| $16,200 Full Price | $5,400/bedroom |
| $15,390 (95%) | $5,130/bedroom |
| $14,580 (90%) | $4,860/bedroom |
| $13,770 (85%) | $4,590/bedroom |
| $12,960 (80%) | $4,320/bedroom |
As you can see from the table above, if you know that rents in Amsterdam can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Looking at different types of deals in Amsterdam to learn how to analyze them as an investment is important to your success. But there are many other aspects to consider when approaching your investing game plan. One very large initial step is learning how to talk to motivated sellers on the phone. To get a feel for what sort of things you really need to be asking and how best to conduct yourself, take a look at our script for talking to motivated sellers. It will help get you going on this crucial part of your investing business.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
What Would a 4.2% Appreciation Rate in Gloversville Mean?
December 27th, 2008Here's another Gloversville property that was submitted by a user that we will use as a teaching tool for our New York Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 116 Noroboro Rd, Gloversville, NY 12078.
In the table below I show what happens to the value with a modest appreciation rate. Can you have years where this (or any other property for that matter) go down in value? Yes. Might it not go up by as much as we are estimating? Yes. Can it go up by more? Yes. Only time will tell what will happen.
| Years From Now | Value |
| Assumed Appreciation Rate: 4.2% | |
| At Purchase | $33,344 |
| Year 1 | $34,744 |
| Year 2 | $36,204 |
| Year 3 | $37,724 |
| Year 4 | $39,309 |
| Year 5 | $40,960 |
| Year 6 | $42,680 |
| Year 7 | $44,473 |
| Year 8 | $46,340 |
| Year 9 | $48,287 |
As you can see from the table above, if we assume an appreciation rate of 4.2% per year, then the property value eventually reaches $48,287 after 10 years.
Finding great deals in New York takes a lot of persistence. Usually you will have to look through many potential deals before you find the one that you want to invest in. A way to accelerate this process is to have an investor friendly real estate agent in your corner helping you out by sorting and sifting through additional deals for you.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
3.6% Appreciation Rate for Franklinville
December 23rd, 2008I want to share with you some information about a property in Franklinville located at 3019 Rte 98. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
In this particular example, let's take a look at what happens to the value of the property over a number of years from appreciation.
| Years From Now | Value |
| Assumed Appreciation Rate: 3.6% | |
| At Purchase | $53,147 |
| Year 1 | $55,060 |
| Year 2 | $57,042 |
| Year 3 | $59,096 |
| Year 4 | $61,223 |
| Year 5 | $63,427 |
| Year 6 | $65,711 |
| Year 7 | $68,076 |
| Year 8 | $70,527 |
| Year 9 | $73,066 |
As you can see from the table above, if we assume an appreciation rate of 3.6% per year, then the property value eventually reaches $73,066 after 10 years.
Does 3019 Rte 98 look like a good deal to you? If yes, do you know how to find deals like this in the New York area? While there are many good marketing methods for finding deals, you might want to consider using the sticky note method outlined on the audio CD titled Buying Houses with Post It Notes. You can never have enough tools in your marketing toolbox, so give it a look, it may just be the key to your next deal.
Until next time,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Allegany Discounted Property: $13,333 Per Bedroom
December 21st, 2008I want to share with you some information about a property in Allegany located at 2000 Four Mile Rd. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
This 3/1.50 1,380 square foot property has an asking price of $40,000, but let's take a moment to do some calculations to see what our actual cost per bedroom would be based on various offer prices (both above asking price and below asking price).
| Price Paid (% of Asking Price) | Price/Bedroom |
| $48,000 (120%) | $16,000/bedroom |
| $46,000 (115%) | $15,333/bedroom |
| $44,000 (110%) | $14,667/bedroom |
| $42,000 (105%) | $14,000/bedroom |
| $40,000 Full Price | $13,333/bedroom |
| $38,000 (95%) | $12,667/bedroom |
| $36,000 (90%) | $12,000/bedroom |
| $34,000 (85%) | $11,333/bedroom |
| $32,000 (80%) | $10,667/bedroom |
As you can see from the table above, if you know that rents in Allegany can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
You may also be interested in learning about how to systematically get your houses sold with Jassen's CD Selling Houses Under Contract. In it he will go through a checklist that will facilitate a timely sale of the New York houses that you've tied up and are ready to be cashed out of.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Nunda Discounted Property: $31.58 Per Square Foot
December 20th, 2008We just had a researcher submit some very basic information about a house for sale in Nunda to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for New York Real Estate Resources is located at 4 Crk Rd, Nunda, NY 14517.
I am going to do do some calculations on this Nunda property. It is a 3 bedroom, 1.00 bathroom property located at 4 Crk Rd that has an asking price of $48,000.
| Price Paid (% of Asking Price) | Price/Square Foot |
| $57,600 (120%) | $37.89/square foot |
| $55,200 (115%) | $36.32/square foot |
| $52,800 (110%) | $34.74/square foot |
| $50,400 (105%) | $33.16/square foot |
| $48,000 Full Price | $31.58/square foot |
| $45,600 (95%) | $30.00/square foot |
| $43,200 (90%) | $28.42/square foot |
| $40,800 (85%) | $26.84/square foot |
| $38,400 (80%) | $25.26/square foot |
As you can see from the table above, if you know what a typical Nunda property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
If you're a student of marketing, then you know that there are many variations on how to get your message out and that it's worth constantly testing new methods to discover what performs best for you. Here's another technique you may want to add to your repertoire: Buying Houses with Door Hangers. Wouldn't it be worth trying some new marketing tools if you could generate more leads in New York?
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
What Would a 4.2% Appreciation Rate in Seward Mean?
December 19th, 2008We just had a researcher submit some very basic information about a house for sale in Seward to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for New York Real Estate Resources is located at 111 Seward Ln, Seward, NY 12043.
In the table below I show what happens to the value with a modest appreciation rate. Can you have years where this (or any other property for that matter) go down in value? Yes. Might it not go up by as much as we are estimating? Yes. Can it go up by more? Yes. Only time will tell what will happen.
| Years From Now | Value |
| Assumed Appreciation Rate: 4.2% | |
| At Purchase | $60,957 |
| Year 1 | $63,517 |
| Year 2 | $66,185 |
| Year 3 | $68,965 |
| Year 4 | $71,861 |
| Year 5 | $74,879 |
| Year 6 | $78,024 |
| Year 7 | $81,301 |
| Year 8 | $84,716 |
| Year 9 | $88,274 |
As you can see from the table above, if we assume an appreciation rate of 4.2% per year, then the property value eventually reaches $88,274 after 10 years.
If you are just getting started in real estate investing, then understanding all of the new terminology may be a little bit daunting in the beginning. Terms like Escape Clause, Bridge Loans and Curtailments are probably not already a part of your vocabulary. But listening to an audio course, like Real Estate Terminology Volume #2 can help you get up to speed quickly on the parlance of the real estate investing world. Don't delay the advancement of your real estate investment knowledge and your ability to get really good deals in New York.
Sincerely,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
What Would a 5.1% Appreciation Rate in Hoosick Falls Mean?
December 15th, 2008I want to share with you some information about a property in Hoosick Falls located at 8 Baby Ln. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
In this particular example, let's take a look at what happens to the value of the property over a number of years from appreciation.
| Years From Now | Value |
| Assumed Appreciation Rate: 5.1% | |
| At Purchase | $50,448 |
| Year 1 | $53,021 |
| Year 2 | $55,725 |
| Year 3 | $58,567 |
| Year 4 | $61,554 |
| Year 5 | $64,693 |
| Year 6 | $67,992 |
| Year 7 | $71,460 |
| Year 8 | $75,104 |
| Year 9 | $78,935 |
As you can see from the table above, if we assume an appreciation rate of 5.1% per year, then the property value eventually reaches $78,935 after 10 years.
Every investor wants to buy houses below market, but do you know how to determine if the properties that you are looking at are really great deals? Is the house at 8 Baby Ln a bargain? If you're not totally sure, or if you just want to brush up on your knowledge level, then check out Jassen Bowman's CD on Real Estate on the Cheap: Buying Houses Under Duress. It may open up your eyes to some entirely new sources of deals.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!