All Forum Posts by: Barry Goldenberg

Hi- I was able to evict a tenant (Downtown Albany NY) after a two year battle. I have an outstanding judgement but unsure if there are options to try and collect outside of a collection agency.  In addition, when Sheriff evicted him we documented over $10,000 worth of damage and clean-up.  Trying to figure out it another way to try to collect other than through small claims court (has limit of $5000 in NY).  

If you have any experience in this area or know someone that does, would appreciate you putting me in touch with them.

Thanks.

Hi Ali,

One more thing.  I am going to be financing the rehab costs via a line of credit.  Anyway I can model that in your calculator?

Thanks.  Barry

of course, how dumb of me not to see that.  Is there a place to put in current rents vs my perceived mkt rents?  THANKS VERY MUCH!

Hi.  I have been using the Rental Property Calculator and creating two reports for each property i am interested in, one with current data and one with Pro Forma data.  Then I saw that both a 'current' and 'pro forma' cap rate are listed on the report.  I am embarrassed to say that I cannot figure out how to enter the pro forma data separate from the current data so all my reports show same cap rate for both.  Can anyone please enlighten me and save me from creating two reports per property!!!

Thanks.

I am a guess what you call a newbie but would like to think of myself as a 'smart newbie' given my long financial career.  My goad is to generate some retirement income so sticking to criteria seems important as per Jason's comments.  At the same time, things change, as per Arn's reply.  Given I am so new to this I guess I am wondering what different criteria people use.  Somehow I got in my head that I should be buying things at a 10% cap rate.  In greater NYC area, that is not at all realistic.  I have identified some smaller cities in the Northeast, like Albany, New Haven, Hartford, Springfield where there are much better opportunities but realize 10% cap not realistic.  What I am trying to understand is if anyone on this thread has any information about the historical cap rates in these types of cities.  Thanks very much for any info you are able to provide.  This is my first time logging in and stumbled across this interesting exchange.  If there is a more appropriate place for me to post this question where people in the northeast would be more likely to see it would appreciate anyone pointing me in that direction!!!  Thanks.