All Forum Posts by: Bill O'Donnell

@Travis Jacobs

Using 3 to 5 % down on each, buy a quad, next buy a triple, then a duplex, finally a single. All fha. In order, a year apart.

If they require updating even better...

@Kiet Tran

New York state its first and one month security. Anything more is illegal. But get as much as you legally can. If there is no problem, great. If anything goes wrong, you'll be glad you did.

@Jamie Brayton

There is a lady landlords group that meets in the lower Hudson valley.

Just letting you know.

Becky Nova, the woman who runs it, is on Facebook and YouTube.

Fyi

@Cheryl Moore

Insall great lighting. And high quality cameras. Give the police access to the camera feed online.

Make sure your property is nice and secure. Locks, alarm, doorbell camera, gates and fences, landscaping.

Keep pressure on the police, go above their head if you need to.

@Justin Rea

Sounds great, but check with your insurer and attorney.

If the tenant gets hurt, you could be liable.

Always cover your behind

@Hugh Horner

Not in Catskill. But yes in newburgh, fishkill, Yonkers, bronx.

There are a few real estate investor groups throughout the Hudson valley.

Poughkeepsie, orange county, fishkill,ulster, Westchester, i84 corridor...

Probably some up your way.

Not a bad area. You can make money. But the ruling party in this state is getting worse by the day.

@Max Kar

My advice is to do in depth research on the precise location you want to build.

So many towns, villages, and such make it as difficult/expensive as possible. Between nimby and banana getting permission can be harder than you think.

Possibly worth it for your residence, but seldom economic as an investment.

You can improve your chances by choosing local people who have a relationship with the locality. Attorney, engineer, architect, contractor, etc...

Just my 2 cents

@Beth Vandroff

Yes. It is risky. I tried to make that point in my first comment.

Its also risky, in NYC, to not rent to them. Discrimination and such.

Honestly, I had overall good experience with the few I rented to, but it is not ideal for many reasons...

@Shawn Kane

I had a document drawn up, that they signed. It allowed me to purchase renters insurance for them.

@Pedro Cardoso

I think a small multi family house hack is the best first step. If you buy an outdated one you can learn about rehabbing. Build equity, learn to be a landlord, and in a year or two you will have excess equity that may be available. Reduced living expenses can allow more savings.

Just my 2 cents