All Forum Posts by: Colette B.

@Anthony Dooley good suggestion!

@Mike D'Arrigo thanks for the insight! Very helpful to know.

@Marc Weisi thanks for that, and it all makes sense. I went out to Journal Square from WTC recently and couldn't believe I was there in about 10/15 mins., so I think as people get priced out of downtown JC, Journal Square will continue to grow.

@Autumn Webb thanks for weighing in! 

@Andrew Johnson thanks for that - it definitely does help! The more I can think this all through before I buy, the better off I'll be. Going along with your point, I've been debating getting one renovated studio/1 BR condo in a trendier/more central part of NYC vs. getting a much cheaper one (or two) a 20 min. commuter train ride away in New Jersey. I was thinking that the renter in the more expensive studio might be easier to deal with and count on, as they'd likely be a young professional or young person with a parent funding their apt. Any insight/opinions on that choice?

And, how have you found college town rentals? I've heard they can be rough, since students/young people will not treat your property as well as adults. Have you found that to be the case?

@Justin Hammond thanks for that. I didn't realize how common it would be for financing to fall through. Great to know why/how all cash is such an advantage.

@Mike H. that's a really good point! Thanks for that input - great for me to think about as I set my goals.

@Omar Khan thanks for the reply and insight. I am feeling pressure to get "the deal of the century" but think your advice to get the ball rolling with a reasonable deal will get me going faster. Thanks again!

@Omar Khan thanks for that info. That makes sense re: the desire for all cash.

Thanks for the insight on NYC cash flow not existing! I've been running numbers for places here in NY and wondering how I would get to positive cash flow and not just breaking even at best, but figured this meant I'd have to snag a place well below asking. When you started investing did you stick close to your home? This feels safer to me, as I know the area and could easily get to it, but if I do decide to invest for cash flow, maybe I would need to consider branching out... 

@Justin Hammond thanks for that rec.! As a newbie I must admit (with slight embarrassment!) that I don't completely understand why sellers prefer all cash so strongly. If a buyer uses a bank mortgage won't the seller still get the cash? Is it just that an all cash buyer can expedite their sales process?