All Forum Posts by: Bill O'Donnell

@Nicole Kutun

Second Wednesday of each month there is a Meetup in poughkeepsie that covers the Hudson valley.

Hv-reia meets 3rd Wednesday, location varies.

Both cover the entire Hudson valley.

@Hank Olken

Taxation is theft. Only unfettered capitalism is capitalism. I do recommend following the tax code to avoid prison, but beyond that keep what is yours. No one's being kept down by you keeping what is yours. Be as charitable as you wish. But guilt should be reserved for the guilty.

Taxation is much more about control than generating funds. The government has no problem printing all the currency they want, with no apparent guilt for the consequences. Real estate investment and business creation are incentivized because the government wants people to provide housing, products, services and jobs.

@Krishnarine Hardyal

I lived in lower Westchester. I moved to Fishkill Ny. I have doors in Fishkill and Newburgh. Mostly sfr. I use the brrr strategy. I cash flow around 800 per unit. But for financial reasons I have expanded slowly. These days deals are getting harder to find, and the political landscape has changed. So I am not buying anything else in NYS.

I am considering Ohio and Pennsylvania..

@Kyle Reece

I wasn't trying to insult Clinton county. I went to the community college there years ago. But compared to the Hudson valley, rents are cheap. And being an hour to the NYC line, my properties appreciate very well. Of course it costs more to buy in the Hudson valley...

Personally. I am no longer buying anything in NYS. Not because of the returns, but because of the legal environment.

I was simply making the point that there is a lot of NYS north of NYC. And many different markets. They cash flow, appreciate, and cost very differently.. Further research needs to be done to choose the right market.

Most NYC residents think that Albany is way upstate. I thought that when I lived in the city. Now I have a different perspective having traveled through the state and lived in different regions.

@Krishnarine Hardyal

Yes. It's possible. But it takes money, research, a team and dedication .

Upstate means different things to different people. In the Hudson valley rents are much higher than out by Buffalo, Plattsburgh, or Syracuse. With enough units, it can still be done, but focus on areas that have a decent return if you are in a hurry..

In my opinion..

@Mark Berge

I'm not an attorney, but depending on your local laws, you could be taking on liability for having your tenant do work. If they get hurt, or hurt someone else. It could land on you. Find out before you proceed... At a minimum, check with your insurer.

@Jon Fletcher

I have 2 sfr in Newburgh.

Things are tighter than in 2019,but that seems to be true all through the Hudson valley.

Newburgh, as always,is block by block.

Long term it looks like a good investment, but I would buy again on the next pullback. Either that or start beating the bushes and hope for a decent off market deal.

@Colin M.

Second Wednesday each month there is a Meetup in Maroneys pub right by the pok train station. Good place to meet local investors, brokers, etc..

Casual, but a great place to network. 6pm

@Andrew Curro

If you have made up your mind to invest in nys, capital region is decent because you can still, barely, find reasonably priced property that you can brrr and repeat. Cap rates are decent. And the area is getting some improvement.

But.

You can do Much better in so many other places. Ny is exceptionally tenant friendly. Moving towards socialism faster than the country. Prices, even in our affordable places are high. Taxes are ridiculous. And regulations are never ending.

You can make it anywhere if you choose a proper strategy, but nys makes it harder than most.

Good luck

@Iesha Padilla

Eviction moratorium.

First red flag, hard pass.

Better vacant than a problem tenant.