All Forum Posts by: Andrew Potievsky

Hello everyone! 

I'm interested in buying my first investment rental property with the goal of maximizing cash flow (e.g. targeting multi-family where possible). I am in New York so I'm looking to buy out of state.

What are some of the most promising cities for multi-family rentals with a growing population/job market and ideally low risk of property tax creep? Additionally, are there any websites / apps that folks use to discover promising cities for RE investments?

Some areas i'm interested in:

1. Columbus, Ohio
2. Orlando
3. Jacksonville

I'm starting my journey with RE and I want to be careful and deliberate with my first buy.

Hi, How did you scrape the data for the 267 rooms? Do you they have an export function or do u have access to their API?

Hi, you mentioned there are many cities that offer 10%+ cap rates. Are any of these close to NY (2-3 hour driving)? If so, can you please share a few?

I'm in!

Thank you all for the warm welcomes!

@RJ Bryan I will definitely keep the BP community posted on my progress as potential deals come through. The links are most helpful indeed and I can't wait to meet some BP folks at the upcoming meetup

thank you for the thorough response ! My challenge is that I live in NYC and the investment market is very tough (5% cap at best) so I'm not sure how to go about finding nearby locations to determine which are better suited for cashflow.

Once I find such an area, I will do all the manual due diligence

Hello,

I'm a techie at heart and I'm looking to make my first real estate investment.

I want to develop an online or excel tool that can help me evaluate neighborhoods that maximize on cashflow. I was considering of using the Zillow API but from what I hear, the data isn't the most reliable.

Can someone please guide me on what datasources are the most accurate for property sales and rentals?

If such a tool or service already exists, please let me know as well since I don't want to reinvent the wheel. I'm happy to share this tool with the community if there is enough interest.

Thank you @Jonathan Marcus, I figured as much. I was just hoping on a loophole (other than owning a house) that can be leveraged.

Since you are from NY, what areas near NYC would you suggest I look into for multi-family cashflow properties? This will be my first investment property and I want to achieve a 10% return if possible. I was considering of looking into college towns where there is sufficient demand.

I would appreciate any guidance that you may have.

Hello BP,

I currently live in NYC and I'm considering of buying property in NYC for the sole purpose of renting them out to tourists.

I've tried this initially in my current apartment and came to the harsh realization that the law is not on your side and I came very close to being evicted myself. I made quite a bit of money during the summer season but it all ended when a tourist asked my doorman "where is apt## because im staying there for a few days"

Is there anyone on this forum that rents out their NYC property to tourists and has overcame the legal hurdles? How did you overcome the legal risks (avoid doorman building, etc?) Is this an industry that is worth entering now or is it close to saturation in NYC?

thank you for the welcomes :)

I will definitely follow the learn link and see what new insights I discover !