All Forum Posts by: Anthony Perez

Hi, 

I just wanted to know if any of you had any information on raising rents on six families in New York. I have deal at the moment with low market rents. I want to go ahead and rehab some units but need to factor the increases to my spending on the units. I know about 1 to 2 year leases but what about tenants that have been there for 5+ years? Any advice would be helpful.

Apply for an FHA if you are eligible, tell them you need to relocate to a bigger residence and purchase a multi in brooklyn. That way you can get in a lot cheaper.

Get a normal loan and buy a two family so you can add one units market rent to your "income"  it helps you purchase more house. 203k doesn't really work here unless you are in direct contact with the owner. Investors snap up those 250-350k all cash so makes it makes it hard for you to compete. But just pull the trigger and buy ten years down the line they will be worth double ENY was just rezoned.

You're going to need Property Shark, Lexis and Zola. Saturdays and sundays walk the neighborhoods and get acquainted with property owners best way to develop leads. NYC markets are very different than suburban markets. People pay all cash here and the competition is intense.

Are you employed? Buy a two or three family in ENY with an FHA loan and rent out all the units you'll break even but ten years down the line the house will be worth double.

Walk away from this its not a deal bedstuy has already been gentrified. Go for Easy New York, Cypress Hills, Brownsville those areas are appreciating exponentially at the moment. ENY especially.

@Chris Masons thanks for the information chris! in NYC we just have a website that you search the bbl for property taxes. I checked township but even when i type in the property address and owner name a broad list comes out. As far as townhall i'm going to be calling a lot of homes and im assuming townhall wouldn't want to stay on the phone giving me 100 different property tax bills. btw chris do you guys have a website for violations by any chance?

Hey guy's how's it going? I'm starting to look for property in the elizabeth new jersey and can't find a website that shows me how much someone owes in property taxes? For NYC i use nycserv is there something like this for NJ? Also do you guys have something like acris as well ?

Great stuff man! Keep the good work going.

Maybe you aren't looking hard enough I shorted something for 200k. I also have to pick stuff up under 350k to make a spread it just depends on the deal. I've seen stuff go for 120k you really just have to look. PM I'd be happy to show you comps. @Charles Worth