Hudson Valley, NY Investor

[John Place]

I am based in New York's Hudson Valley and interested in buy and hold investing with a focus on smaller multi-family properties.  My wife and I purchased our first property last year; an older 3 family in a busy village.  We completed renovations and have rented 2 of the apartments while we live in the other.  We are actively looking for our next property.   

[Giordano Rodriguez]

@Eric Hrlbock Please see write up below. 

The house is a multifamily home (2) family. With the option of converting two bedrooms which are considered railroad room. The plan is to convert those two rooms into a studio apartment. Using the studio to House hack. The house is located in Haverstraw NY. It's in a small village called Dutch Town. It's about 40 minute drive to NYC. My girlfriend and I went in on the deal together. We paid $312,500 and put $26k down including legal fees. The taxes are high, about $15,500. Total monthly note including PMI and home owners insurance $2,700.

We kept the current tenants. One tenant is paying $2,200 monthly and the other is paying $1,395 Monthly. Total of $3,595. After paying the mortgage we cash flow about $895.

The property is unique. About 1 acre total with approximately 120ft of water frontage on the Hudson River. We're exploring the option of installing about 5 boat slips for additional rental income. We're also considering placing three 40' ft modular container home. Creating an off grid living home. This will be placed on the beach. Obviously we would have to follow up with the building codes. We're thinking to live or either AirBNB the container home as a vacation home.

We definitely have options. If you have any questions please ask away.