All Forum Posts by: Brian Wang

hi henry, if you have enough equity, you can do a heloc or refiance to fund the construction. these two the cheapest ways.   if you still find yourself short for the cost, you may consider getting a construction loans, of which may come with many restrictions and rules that you need to follow in the construction process.  at last, hard money is out there, but its more suitable for renovations as you want to exist quickly because of the high interest 9-12%. 

hope that helps. 

best of luck mate

if the current ROI is based on the current income, i think it would be okay. however, the return isn't as attractive based on the # you provided. it wouldve been a good deal if the NOI is 9-13% instead of your Cash on Cash return. but again, this is ny. if all the apartments and stores are rented and you see rooms for growth, i think should act sooner than later, given the market shift is imminent. best of luck

hello Hugh! welcome. hope we can connect soon. 

add me to our list :)

LOL! good!  and good luck to you for the rest of the journey. 

risky, don't do it Luis, better find the tenants yourself.  you can find much more qualified tenants than what you just described.  her reason for low credit may be legit, but her income is on the margin of just being able to pay the rent ( 950+800+1000) and that 1000 is from her husband for the child care. unless she makes 950 a week after taxes, i wouldn't even consider.  she may be very nice person, but in the end of the day, you gotta pay your mortgages and you can't afford to an eviction in NYC, which is ****ing nightmare. 

Hi Jennifer, why dont you pay a visit to Queens library? pick up a book or two.  there is no better course or degrees out there than hands on experience. i have seen MBAs in my field that have no experience and have little regard to learning.  buying it right makes 75% of the investing businesss, you're now only responsibile for the management part, which really only comes to having the right handyman/ construction crew and screening future tenants.   if you want to upgrade a certain unit to bump up the rent, go ahead and talk to the tenant, otherwise, i don't see that you have to do anything besides collecting the rent! lol

go to far rockaway. you can still find good cap rate rental properties, as well as future growth in appreciation next to the rockaway beach developments surrounding areas. there arent many deals in queens, even when you find it at times, often its either REO or Short sale and would require you to close with cash. or if you have do your own marketing and get your own first hand leads, you might have a shot.

awesome

thanks！ i guess i'll drive then