All Forum Posts by: Andrew Curro

Hi BP,

I'm one year out from beginning my real estate journey. I'm looking to purchase a 2-4 unit in an A/B neighborhood within capital region NY. Aside from education and networking, are there any steps I should take to make sure the process goes smooth?

Andy

@kole 

@Kole Kingslien Thank you, Kole. That was very helpful. In your situation, do you see a point at which outsourcing a property management company will become a better option than managing yourself? If an increasing number of units is the reason for outsourcing (what I would assume, correct me if I'm wrong), what do you foresee that number of units to be?

Hi BP,

I'm looking to purchase a 2-4 unit owner occupied property in an A/B neighborhood in the capital region of Upstate NY. How many hours/week would it take you to manage a property like this on your own? What technology/apps/systems have you used to decrease the amount of time spent on managing a similar properties?

Andy

@Bill Goodland Great to meet you Bill, very cool to see a PA doing what I'm hoping to do in the future. How long did the FHA loan property take to acquire? I was under the impression that FHA loans could be a hassle as well, but I don't know to what degree.

@Jesse Rivera Do you know if there is a typical period of time you have to own the house before the banks will allow you to refinance the property?

Hi BP,

I'm formulating my options for financing an owner occupied 2-4 unit in upstate New York. I found a lending service (Bankers Healthcare Group) specific for health care professionals (I will be a physician assistant next May). Given the many benefits of buying a property with cash, my plan is to use a private loan from this company and/or from family/friends to buy the property and then refinance the property using a bank loan, thereby paying off the private lender/s and getting better terms. I'm wondering what types of obstacles/constraints I might run into with this plan. Thanks all!

Andy

GOAL: financial freedom
Strategy: buy and hold MF homes in great school districts
Context: 25 y/o, first time home buyer
Location: ??????

What state, city, town do you start in with these constraints? You can go anywhere!

"NY is both landlord and tax unfriendly" - investor

SCENARIO: 25 y/o, wants to buy and hold MFRs in great school districts, looking to start journey
QUESTION: What are the best and worst features of Capital District NY for a real estate investor?

@Tim Emery very helpful thank you!

@Tim Emery Thank you Tim. I was under the impression that to make the most out of a deal using the BRRRR method, properties should fall into the category of beaten down fixer uppers. How would homes in this area that are $400k+ be ideal for BRRRR? I may be off here, but I would assume that most homes at this price would be in great shape already.