All Forum Posts by: Adam McQuiston

I would like to see the deal and maybe purchase. adam@ flippingtheroc.com I think everyone has said what needs to be said. I would also add that you would want to make sure the titles of the properties are clear also. 

Rochester has a local Investor meetup that's part of a national group. Freedom First Real Estate Investors Association or FFREIA at FFREIA.com.    https://www.ffreia.com/default...

I’m in rochester and it depends on the area and management company. As far as pricing on materials it is high. Countertop creations would be cheaper and do instal including sink instal if you provide it. Also the flooring call United carpet and ask for Jim Reed let him know I sent you. He can set up install also.I have other contacts on cabinets as well. Feel free to get with me

I am looking to expand my lender resources. Since this pandemic lenders are getting tighter belts understandably. Want to keep my options open since I also sponsor mentees on deals. 

I am in the Rochester Ny area and My cap has been 30% on average. However the market has changed in the last year and due to the increase in value I will be selling off my single Family homes. Even with the values up the price to rent ration as mentioned earlier is the best you can find. Homes are cheap on average 30-90,000 and the rents can range from 750-1100 in c class neighborhoods. It is still a unique market because every street can vary in tenant and rent types. My rentals are always on the higher rent side because we care for our properties. 

The rate is is good because it is an investment property not an owner occupy. The points may be for the better rate. Im assuming its a prepayment penalty at 10K or if that's the closing cost it does sound high as Conrad stated. That sounds kinda ridiculous as it is on a 130,000 property. 

You can no longer collect last months rent. Just first months and deposit. You will most likely have to go to a civil court and then try to garnish wages. Can be costly and time consuming.

Maybe not Round Rock but I just Left there. All around there near Georgetown is massive builds going on. I spent two weeks there looking at the homes. Thousands are being built not hundreds.140 people a day are moving to the area.

@Darshil Probably because the new homes are at that same price right around the corner.

Thanks, I have already contacted a local management company. I am thinking’s ng of doing some Airbnb at the same time S.O. was another great suggestion. I think my biggest concern is I know how to do rentals but if I run it as hotel also it would be a 24 hour setup for the management. And B, with it being both I would end up feeding the residents breakfast also. Not opposed to but also a costly additional. So as far as feasibility and all the area it supports both. The previous hotel and others in area always had bad reviews and I am starting from scratch and it’s 75 units.