All Forum Posts by: Assaf Kehati

Hey bigger pockets ladies and gents,

Are you familiar with the Atlanta market?

Is it a good market to buy a multi family house?

Especially looking at Tucker which is a city located in DeKalb County, Georgia.

Would love to hear your story if you invested in the area and you impression.

Thanks!!

Thanks @Chaim F. for helping my first steps in this website! I think it was sent this time..

Thank you @Chaim F.

I tried to send a pm, did it work?

Thanks! @Chaim F.

Any more tips and info on Brooklyn that you can share?

Thanks! @Mary B.

Thanks @Joe Villeneuve

It's really helpful!

Thanks @Adam K.

That was great and I learned a lot from what you wrote! Thanks!

btw, my brother's name is Adam K. :)

Very interesting guys. Thanks!

Hi @Joe Villeneuve 

Thanks again for your time and everything you wrote. I totally agree. The 2% rule I gave what just a general demonstration of how far the numbers are from a good investment. I did do my analysis based on actual numbers which are:

Let's say, for a one bedroom apartment in Brooklyn you pay as a renter around $1200-$1500 (around Prospect Park area). Then, if you buy an apartment it will cost you $250-$300K. Only for mortgage you will pay around $1000 a month, on top of that you will pay insurance, taxes, repairs, utilities, and attorney fees, etc. Maybe I don't see how the numbers work, but something doesn't make sense.

I'm trying to look for an option with positive cash flow but it looks like it's better to rent then do buy. Still, I do want to get into the market of buying a property, and buy one every year, but it looks not possible numbers wise. Unless I am missing something and that's why I;m asking you guys for help!

Hi @Joe Villeneuve, and thanks for your time!

I'm looking for properties in my area and those are more or less the numbers. I'm sure that if I dig in more I could find something that will make it work but so far I don't see how. For example, just the big picture, if you take the 2% rule so for a property that cost $250k you need a renter for $5K and those are definitely not what you would get from a renter in the area I'm talking about. Not even half the $5K (which will make this even less that the 1% role). But I'm still looking for more opinions and want to get educated more on the Brooklyn market. Thanks for any input!