All Forum Posts by: Barry Cooper

@Trevor Ewen 

Trevor I replied to you above but I didn't do the  notification right. Thanks to the help from  @Raymond B.  I should be good to go.

Barry

@Raymond B. 

Thanks for your help I figured out if I use FireFox this feature doesn't work for whatever reason but will work in Safari still can't figure out the problem with the iPhone app. 

Barry

@Neil Schoepp 

Thanks so much for he offer, I've taken a few more rides and see way to many for rent signs for my comfort. Out of curiosity where do you primarily invest?

Barry

@Trevor Ewen I'm focusing on income primarily. Ideally I would like to put 25% down and have 70% of the monthly income qualify the loan. Is this reasonable? Areas I have an interest are west side of Westchester (Mount Vernon, Yonkers, Ossining, Peekskill) and parts of Rockland and Orange (Port Jervis, Goshen, Warwick, Haverstraw, etc..) unfortunately at this price point the taxes and property prices aren't in line with the amount of rent generated. Have you seen differently?

HELP! Looking for a multi-family 5+ under 750k within 1hr of 10983. I have 200k cash and I'm fairly certain I will be able to obtain a mortgage with the right deal.

Hey Juan Are you still looking for a partner?

Any investors have experience investing in Port Jervis, NY? Prices are reasonable for multi-family homes, vacancy rate of 17% and close to a commuter rail.

Joe Fairless my goal is to build a portfolio of income property/property management to eventually quit my job (military) and continue to grow the my company. I will like to do it in 5-7yr time frame.

Well the structure of this was a little different because myself and one of the partners are silent. We were not on the mortgage and not eligible for a 1031. My CPA suggested to start a SCorp and have the money paid directly to the corporation of my partner and I and use it as start-up money. I still don't understand what the tax implications will be with a combined profit of 270k, basically how much money we will have to spend to buy a new place with the SCorp.

I bought along with 4 other investors in 2005 a 3-family new construction in Bed-Stuy Brooklyn NY. It's now come to the point to sell and each of us will make 135k before taxes selling the place. Myself and another investor have decided to stay with real- estate investing and go in together on another multi-family in the nyc metro area. My question: is it smart to pay cash for a building with the intentions of fixing it up in this area? Or would I do better going down south where my money go a little further and tax would not be so high? For most places tax has been around 8k per year.