All Forum Posts by: Anthony Siconolfi

Hello, my partners and I are purchasing a property in Syracuse, NY. The property is a 6-bedroom house with a separate ADU with 1 additional bedroom. The current landlord does not have the property on the rental registry.

1. What zoning district are students allowed in?

2. What land uses would classify as a student rental?

3. Are students allowed to live in the R1 zone district?

4. Can you confirm the number of students allowed in one unit?

5. Can you advise how strictly these rules are enforced? What are the penalties?

We have noticed that no landlords comply with any of the student rental rules and regulations in Syracuse, NY but do not want to put ourselves in a situation in the future. Are there any Syracuse landlords in here that can advise?

Hi everyone. My partners and I recently graduated from Syracuse University and have been looking for our first rental for the past year. We have found a deal off market in Syracuse, NY that we really like and it's a great opportunity. It is in a great location and cash flows well. We are looking for someone to hold a mortgage for us. Asking price is 635k. Please reach out with any advice and opportunities!! Thanks for the help.

I am looking to purchase my first rental property for student housing. I have been looking in various cities in Upstate, New York and have noticed a recurring theme: Cities have very strict zoning rules and regulations for students.

I have noticed many landlords do not necessarily follow these rules or regulations, or the rules themselves are pretty wishy washy and sometimes unclear. For example; the number of beds allowed in a home type or zone district, or a certain land use in a zone district. I have also come to learn the house I was living in college for 2 years was not correctly following all of the regulations. Come to find out, it seems as though the whole neighborhood may not be following the rules. It seems as though a lot of these rules are loosely enforced?

Has anyone ran into the same problem? Open to any advice! Thanks!

Hi, 

I have opportunities to fix and flip on Long Island, NY but unfortunately do not have the cash for it. I am new to the business and do not have any experience in flipping properties. How do you recommend I get started? Are there any hard money lenders that will loan with no experience? If so, where? 

Have you heard of: https://facolending.com/fix-and-flip-loans/? 

Hello,

New to real estate investing and am seeking a mentor to answer questions and validate market research for myself and my partners. We have been researching for 6+ months (market trends, analysis, student housing, LLC, mortgages) and want to lay out actionable next steps. Any tips or advice would be appreciated. We would be grateful for the opportunity to connect for a call.

Thank you!

Hi all,

I am evaluating student housing in upstate NY and would like to get ahead of any scenarios that involve inheriting tenants. Recognizing that a situation like this would have both pros (no vacancy) and cons (less control):

- Are there any considerations to made for the screening of current tenants when a property changes hands?

- How often do situations like this arise? What is the best and worst case outcome? 

- From a risk perspective, can inheriting tenants turn a 'go' into a 'no go'? 

Thank you all and happy Tuesday! 

How do I find a good property manager that I can trust? Where do I look and what questions should I be asking? 

Would you purchase a rental with a tenant in it? Why or why not? We are preparing to have no "lag time" and want to maximize rental income. 

How did you know when to pull the trigger for your first property? 

Financial Stability: What financial milestones or stability measures did you want to achieve before making the purchase? Did you have a specific budget or savings goal in mind?

Market Analysis: How did you analyze the real estate market trends? Were there specific signs or indicators that made you confident about the timing?

Risk Assessment: What kind of risks did you consider before making the decision? How did you mitigate these risks, and what factors contributed to your confidence in your choice?

Exit Plan: Did you have an exit plan before purchasing your first rental property?

Dear All: 

My partners and I are looking to purchase our first rental investment, in Binghamton, NY - focusing on student housing. Does anyone have any recommendations for a realtor and property manager? We have done extensive research on the area and the rents that it yields. Does anyone have any suggestions as to what we should stay away from, being that this will be our first investment property? Thank you!