All Forum Posts by: Jonathan B.

Hey John, welcome to the site.  It's good to see other investors in Westchester.  

If you can make it, I'd suggest going to the meetup tomorrow: BP Meetup in Manhattan

I wouldn't put too much stock in the 2% rule in our area.  I would either try to get an acceptable cash-on-cash return on your downpayment from cash flow, or try to find a property where you barely cash flow but stand a very good chance of appreciation.  Sadly, the biggest hurdle to finding a good property is the taxes.

@Jonathan Makovsky Sorry I missed this one, will be on the lookout to make the next one!

Will be there and I'm hoping to sign up and bring along a friend.  Thanks for organizing Darren.

@Darren Sager Thanks for organizing the event.  @David Krulac was an excellent speaker with tons of awesome tips and stories.  I look forward to listening to his podcast.

Looking forward to seeing everyone there!

Awesome.  I plan on being there.

Awesome, count me in.

From reading @Account Closed 's other posts, he would probably say that cap rates are not useful for SFRs or small multifamilies.  The main reason being that accurate expenses are so difficult to obtain for small buildings. 

Other ways of estimating price to compare your building to the market (both sold and for sale) could be: 

1) using price per sq ft (more common for single family) 

2) using the gross rent multiplier 

3) doing a simple price-per-unit comparison 

None of these take into account expenses, so there is one fewer variable to account for.  However, you will still have to know expenses on your property to see if your cash-on-cash return will meet your goals.

@Nick G.  I think Peekskill is a little far from me, so I'm looking closer to White Plains now.  I think if you are looking for a property in Peekskill that there seems to be an investor friendly property management company up there that posts on Craigslist a lot.  I forget the name of the company...

Here's hoping this one is as great as the last one.