All Forum Posts by: Ajo George

Hi everyone. I'm thinking about investing in a STR house in Lake Harmony, PA. I have already identified a property. It's a 4 bedroom 2.5 bath house with its own pool. Sleeps upto 14. I have a few questions:

1. Occupancy rate. I know that summer and winter months are most popular. However, will i be able to rent out in the spring and fall months if my prices are reasonable? Any idea of occupancy rate potential? I want atleast 50% occupancy. Is that reasonable to expect.

2. Pricing: I plan to rent out in the summer months around 700-750 a night (the house has its own private pool). The house is close to Jack Frost and big boulder so I’m assuming I can rent for atleast 500 to 600 a night during the winter months. Is that assumption reasonable? How low would I have to price it to rent in spring/fall

Looking forward to hearing from the pros.

Thanks

Ajo

Hello BP community. I am small time investor currently in the New Jersey/New York area. My wife and I are thinking about moving to the Dallas area for lower cost of living and slower pace of life. While there I would like to continue investing in properties. My goal is to buy an 8 unit or more apartment building in a decent area (I would like to avoid low income). I am looking for approximate numbers here: What can I expect to pay for a mid sized apartment complex of about 8 to 10 units? 2M or less? How much in rent can I expect to get for a 2 bed or 1 bed? (if you have areas I should look into with approx rents please let me know).

I hear that the dallas area is over saturated with investors but I assume i should still be able to find good deals. Please let me know.

I am looking for contacts to help me along the way, including realtors, lenders, etc. Hope to hear from you soon.

Hello BP community.  I am small time investor currently in the New Jersey/New York area.  My wife and I are thinking about moving to the Atlanta area for lower cost of living and slower pace of life.  While there I would like to continue investing in properties. My goal is to buy an 8 unit or more apartment building in a decent area (I would like to avoid low income).  I am looking for approximate numbers here: What can I expect to pay for a mid sized apartment complex of about 8 to 10 units? 2M or less?  How much in rent can I expect to get for a 2 bed or 1 bed? (if you have areas I should look into with approx rents please let me know).  

I hear that the atlanta area is over saturated with investors but I assume i should still be able to find good deals.  Please let me know.  

I am looking for contacts to help me along the way, including realtors, lenders, etc.  Hope to hear from you soon.

i did a minor job.  the company i used was CS&E Home improvement out of jersey city. 

Hi. I'm a fairly new investor in north Bergen also. I found tenants for my properties via craigslist. It's a pretty easily rentable area so you might not need to go through a realtor. As long as you do your due diligence on the tenant you will be okay.

Hello Alex. I am from the area and live in a condo in North Bergen and also recently purchased a 2 family home that I am currently renting out. I suggest you buy a multi family instead of a condo and rent out one of the other units in the multi family. I purchased my condo years ago and although I love the space, in hindsight I should have purchased a multi family instead. Condo's get tricky if you want to refinance or even take out a HELOC. You have more control if you own the land and property outright.

If you are looking at a price range of 250K for a condo you can purchase a decent 2 family home for 400K. Assuming you put 20% down with the condo you will pay approx $1,850-2K in monthly mortgage payments (I factored in approx taxes and HOA dues etc). If you purchase a multifamily for 400K your monthly all in payment would be approx $2,500. Factor in a low end rental price point of $1500 for the extra unit, you will only pay approx $1K out of pocket! multi family seems like the smart way to go in my opinion. There are other things to consider but this is just my opinion. My advice is to go that route and have someone help pay your mortgage.