Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago,

User Stats

23
Posts
7
Votes
Amani Clarke
Pro Member
7
Votes |
23
Posts

Advice on buying a Rent Stabilized multifamily in Brooklyn?

Amani Clarke
Pro Member
Posted

Hey guys, I've been looking at this property in Brooklyn. It's 7 units, 4 of them are vacant and 3 of them are occupied but it's rent-stabilized. One of the units is occupied by a senior citizen so I already know there's nothing I can do with that one. Still, I wanted to know if it's even possible to destabilize the other units and are the vacant units automatically destabilized since they're vacant? The building as a whole needs work also so I'm just trying to figure out if there are any restrictions that'll prevent me from doing rehabs on those vacant units while the other ones are still occupied. This will be my first investment property and I know NY is not an investor-friendly state but the cash flow with this deal makes it worth it to take it down.  Also, I'm getting into this as a creative finance deal. Any advice.

  • Amani Clarke
  • Loading replies...