All Forum Posts by: Jorge Rivera

@Brendan Curley My hometown, West Islip!

@Nick Louie I bought a house on Long Island and I'm house hacking. Cash flows and I got 22% Coc return. They're out there!

@Michael Giordano Glad to see you start! I just bought my 1st rental property on the south shore of Suffolk County. 22% Coc return. It took me long and hard to find one, but they're out there. I should say I have a competitive advantage, my relative is a contractor and I paid very little rehab costs comparatively. Find your competitive advantage! As for the tenant's rights, sure it's skewed. But if you vet the tenants properly and with the crazy demands for rentals, you'll be fine. Don't let that discourage you. Keep running the numbers and look for creative ways to structure the deal. 

Love to meet up in Hicksville too @Ray Danishyar  

Hey Matt. I'm big on buying real estate and waiting, instead of waiting to buy real estate. This is my advice IF you have your finances in order, including a 6-month emergency fund. I searched long and hard to buy my 1st multi-family in Suffolk County back in March of this year. Good luck and always keep learning!

I used MLB residential mortgage out in Hauppauge. I interviewed 6 lenders and they seemed the most competent. Hope this helps

Ryan, please add me to the list. Just bought my first investment property in LI, looking to buy and learn more!

Hey BP!

Anyone hosting Airbnb in Long Island? What are your experiences and would you recommend it over long-term tenants? I’m considering starting in a property in Suffolk County town of Islip

Thanks Mason. The seller accepted an offer contingent on the property being vacant and satisfactory inspection. Waiting for my lawyer to get back to me. 

Hey BP!

I'm considering buying my first investment--a multi-family house with a legal adu! There is just one catch, tenants haven't been paying their rent for a few months and need to get evicted. The seller of the house is willing to pay any legal fees associated with the eviction as well as paint the house. The property is in a b+ neighborhood. What are some things I need to know/what due diligence is needed before the purchase? I'm located in Long Island, NY. Thanks!

Hey BP!

I'm considering buying my first investment--a multi-family house with a legal adu!  There is just one catch, tenants haven't been paying their rent for a few months and need to get evicted. The seller of the house is willing to pay any legal fees associated with the eviction as well as paint the house. The property is in a b+ neighborhood. What are some things I need to know/what due diligence is needed before the purchase? I'm located in Long Island, NY. Thanks!