New York City, NY · Member since 2016 · 4 posts · 5 votes
Hello,
As a new member to BP, I am interested in connecting with brokers in the NYC metro area that can help my real estate partner and I find a multifamily building to purchase.
We are open interested in Queens, Brooklyn, Jersey City, but are open to hearing about investment opportunities in other areas. We look forward to speaking directly with you to provide more information about our specific criteria and budget.
Jamie, I would like to hear more about what type of multi-family you are looking into. For example, are you looking to do some fixing up or are you looking for turn key? If you could in box me your budget preferences and potential areas. I would be happy to send you over some listings.
If youre looking at multi-fam, you should suggest your target cap rate. In NYC you'll find plenty of multi-fams at a 4 cap. Plenty at a 7 cap. And plenty in between.
What I'm saying is, when you start a search with a broker, give them more to go on. In a metro area the size of NYC, there are too many to effectively narrow down with a criteria of just multi-fam.
If youre looking at multi-fam, you should suggest your target cap rate. In NYC you'll find plenty of multi-fams at a 4 cap. Plenty at a 7 cap. And plenty in between.
Oh no. Not again. I'm not going to get sucked into this hole where you argue and you use some convoluted logic to explain why cap rate is a stupid metric. We can agree to disagree. Strongly.
Oh no. Not again. I'm not going to get sucked into this hole where you argue and you use some convoluted logic to explain why cap rate is a stupid metric. We can agree to disagree. Strongly.
Lets leave it at that.
So you didn't learn the first time. But see, you still can't explain your own statement. That is the problem.
Investors don't BUY cap rates. Scammers SELL cap rates.
Welcome to BP! It's an awesome community. I would recommend Jacqueline Greco at Weichert Realtors. She is affiliated with and works with offices in NY and NJ, so can help you find the best fit on both sides of the state lines. I'm more than happy to connect you, if you'd like. Just shoot me a PM or whatever you would prefer.