All Forum Posts by: Angel Rosado

Just wondering what tenant screening process did you have in place when these problem tenants came in?

I agree with @Lynn McGeein.  Although you have cause to celebrate since they have given you the notice, it may be too early to celebrate.  You won't be rid of this "problem" until they are long gone from the property.  

@John C S.undefined Do you have any investments outside the NYC metro area? If so how did you conduct your research? how did you go about finding it?

Hi all,

So I am planning to become a buy and hold investor but living in in nyc cash flow is very tight so I am thinking about opening my search radius.  I was just wondering what each of you consider local either in miles or time driving.  For me, I'm thinking that local is about an hour drive but I also understand that any further a PM would be required.  

So what are your thoughts? 

@Nathan Duncan

I say go with that idea, you may even want to cover some of the bill yourself but you also do not want the tenants to think that they can get everything they want and force you to bear the expenses.

@Nicholas Hooyman

 welcome to the site, a lot of great resources to that you can take advantage of.  I am a huge fan of the blog and podcast.  

I am also in the city and haven't invested just yet still in the learning phase.  Funny enough I work in the Union Sq area so am very familiar with NYU.  Early congrats for the law degree!

@Bogdan Cirlig any suggestions for east coast properties?

@Orail White Jr welcome to the BP, this may have been the greatest website you could've stumbled upon for REI.

I would highly suggest you download the podcast as @Brandon Turner mentioned, you will learn a lot.

Are you looking into any specific boroughs? what type of investing are you looking to do in NYC? I'm new to REI myself and am still in the learning phase.

@Michael Reavis welcome to the site, glad to see someone else from the 5 borough area

@Daniel MohnkernI whole heartedly agree, cash flow is king and that is what I'm looking for. 

@Charles Worth I think we all wish we lived in the hindsight and made choices based on that.  There was one podcast that I recently listened to that went into the tenant interview process and provided some huge insight into properly screening tenants to minimize problematic tenant base, I'm hoping this will help in my journey.  

@Adam K. unfortunately because I'm still a noob in this area I wouldn't be able to tell you the areas that are up and coming but I know that some great living area is Riverdale and of course price tags will match.

@Jayson GreenblattLooks like we have similar interest when it comes to strategies, I am looking to buy a multifamily and live in one.  I know I will be utilizing a first home buyer program because 20% won't be feasible for my first investment.  I do fear that living in the multifamily will have it's issues such as tenants knocking for any little problem but this is something we have to deal with a new investors and it's all temporary.

@Taheem Bellz Thanks for the info, I already looked at NYC's HomeFirst Down Payment Assistance and I am already disqualified based on income but it looks like the NACA program is more flexible, have you tried NACA? and no picture yet?

@Brandon TurnerThanks for the welcome and Kudos to you for all that you provide, I started this journey less than 2 weeks ago and I have already attained so much knowledge through the blog, forum, and podcast.