All Forum Posts by: Anthony Vander Meer

@Karl Danticat where are your rentals Brooklyn? I guess that makes sense. That’s my primary residence (until Covid) and the place is a ghost town. I’m sure it will be back before we know it. Good luck!! My rentals are in Ulster County just outside Kingston.

@Patrick Froehlich Hey Patrick, I studied real estate for a year and closed on my first property 6 months ago, I’m 45. BiggerPockets webinars and the calculator was a huge help. I went with the pro membership to watch the webinars on demand and read a lot. I put in a bunch of offers that got rejected. Finally got the winning bid on a 10 unit. Being in my 40’s I wanted to accelerate the process. Hopefully you have some good money saved if so maybe consider doing the same. Figure out your target retirement date and the cash flow you’ll need the work the #’s backward. For instance I want to retire or at least slow down the day job within 10 years and to do so I’ll need 40 units worth of cash flow. Good luck!

@Eric James. Thanks Eric! There is something to be said for a tight rental market.

@Bernard H. Good point. Maybe I’m over thinking it. Thanks!

@Anthony Wick Well said! Not to mention I purchased the place to fix up and raise the rents to a competitive market rate. The tenants who want to stay will have a reasonable rent with a much nicer property. Your right leaving the rents and property as is and underwhelming is not why I got in to this. Thanks again for the insight.

@Larry Zucker Can’t say I don’t agree with you and Cory’s stance. It’s cash flowing nicely and there is absolutely something to be said for stable, paying tenants that give very little grief. It’s tough though running the numbers are market rate, man do they look good. Then again pigs get slaughtered :).

@Joe Splitrock Exactly! Thanks Joe.

@Ethan Jacobsen Thanks Ethan. I had a similar thought. Some are extremely below market others are close. My thought was I am already doing far more for them then the previously owner and they’re month to month so increase $50-100 but offer a year lease along with the increase.

@Samantha Dowd I get what your saying and I do agree. It easier to be a hard a#s on paper. Then again it’s hard to say if any of them have been effected financially during this. Thanks for the reply!

@Anthony Wick I hear you Anthony (good name!). I had 1 tenant leave right at the start of this. I did a light rehab and rented a 1 bedroom for the same price as a current 2 bedroom, in 6 days! So seems like a no brainer, just a little gun shy due to the madness. Thanks for the reply!