All Forum Posts by: Chris C.

I purchased the duplex which I currently live in about six months ago. The rent from my duplex covers my mortgage,taxes and insurance. However, I still make sure to budget at least 200-300 a month for repairs.

Right now Im trying to figure out my next step. I have about 20k in savings and 10k in a roth. I can only qualify for another mortgage with about 20k down on a 100k mortgage.

My question is, should I keep looking at properties and just look for duplexes that are within the 100k price range, or should I upgrade my current duplex to get higher rents and then just eventually buy and move into a new one when I have more savings?

Any other thoughts about how to put this savings to work in real estate?

Thanks everyone for the responses. Looks like I will be going with the above mentioned silicone-fiber coating. Will let you know how it turns out!

I have a flat rubber roof on a duplex that I own. The roof is around 10-15 years old and I want to do everything I can to maximize its life. I have looked at a few different coatings such as Blackjack and wondered if anyone had any suggestions or experiences with different roof coatings?

This property is in upstate NY and we get a ton of snow so I want to invest in something that is as durable as possible.

I believe you are allowed to take investments from individuals you personally know. Theres very specific rules regarding this and I would suggest discussing it with an experienced attorney before you proceed. At this point though, a I would focus on gaining experience and getting a couple of deals under your belt before accepting investments from friends/family. It will also be much earlier to raise money when you can demonstrate a track record of success.

Did anyone ever find an Albany NY REI club? I am interested in finding one, but haven't been able to find much information.

This is kind of random, but there are also some great opportunities in Cohoes. I checked out a few properties there today. Cohoes population numbers are rising and theres some great development going on like this http://www.harmonymillslofts.com

Also, as per Albany area property management companies, I have not really seen any market leaders. Most look like mom and pop type shops and the larger ones seem to focus more on commercial/large apartment buildings.

Watervliet. 7 minutes to albany and right across the river from Troy. Purchased a 2 family duplex here in June. Watervliet has better schools and higher incomes than Albany or Troy but still has cashflow potential. The census data can be found here http://www.city-data.com/city/Watervliet-New-York.html

Also, Watervliet has a ton of well paid federal employees from the Watervliet Arsenal.

Albany has some great properties depending on where your looking. The nicer areas such as Center Square are hard to cash flow, but the "student ghetto" can offer some good opportunities. You might also want to look at surrounding areas such as Troy and Watervliet. Theres some great revitalization going on in Troy and both cities offer solid cashflow and good access to major roads.