All Forum Posts by: Chris Szepessy

I’m a newbie to the industry but not to the area, so many NYC people setting up shop -my initial thought is vacancies will not be a problem in Catskill soon..Agreed on concerns though, cash flow is crazy low currently on all the properties I’m looking at and will take time to get up to potential. Looking at multi-family and buildings as well..Every time I snoop around Kingston, everything seems to be out of reach for me at the stage I’m at in my portfolio..Catskill is my target town..I own a home in Hudson and my office is in Catskill and hammers are a swinging !! Would love to network with you -considering We are pursuing the same area..

Take Care

I have two rentals in Catskill. I also had no idea that that Foreland building was nearing completion. Last time I walked by it, I could've sworn it didn't even have subflooring on the first floor. lol

Catskill seems to have a lot of plans. I'm hoping something comes of it!

1 Vote

Upstate New York, New York

Originally posted by @Hugh Horner:

@Chris Szepessy

Absolutely insane what’s happened in Catskill & Hudson - quick question - Do you know if any investor meet ups in Columbia or Greene County? Everything seems to be in Westchester or Ulster

Unfortunately, I don't. I agree that most meetups tend to be more in the southern Hudson Valley. I'm always up to chat, though, if I can be of any assistance to you!

0 Votes

@Hugh Horner I live in the village of Catskill. Been here almost 11 years and they’ve been saying Catskill is “up and coming” the whole time. I think you might be right that now (soon) is that time, though.

I grew up in and still work in Hudson and watched as it turned around as well. Areas that you wouldn’t want to walk through at night years ago have houses/buildings selling for well over $500k.

2 Votes

Dave Ramsey has helped millions of people pay off debt. It's worth looking into him/his way of thinking. Check out his you tube or download his podcasts. A lot of people on this site seem to follow him up until it comes to his way of investing, but his debt snowball does work.

0 Votes

Originally posted by @Alyssa Czopor:

Originally posted by @Balaji A.:

@Justin R.. Two valuable tips. Thanks

@Alyssa Czopor. Does your realtor work in Catskill area /Lake George ?If so, please share info. I would be interested in exploring as well.

I haven't found just one realtor to work within the Catskill area. I've talked to a bunch but that is the extent of it. The realtor I'm referring to is one in CT that I have known for years and is fantastic tops for his area.

Are you looking specifically in the village/town of Catskill or just the "Catskills" in general? I live in the village. I don't do STR, but let me know if I can be of any help.

0 Votes

On time payments and keep your credit cards at less than 30% utilization...but more preferably, pay them off every month.

1 Vote

Originally posted by @Greg O'Brien:

@Chris Szepessy that is correct. But you will pay taxes on it eventually. The question I would pose is “do you believe tax rates will rise towards your retirement”? We have historically low tax rates today. The former comptroller general of the US believes tax rates must double to pay off the INTEREST on our debt within 20 years...

I agree that the gov't is going to get their share at some point. I just didn't want someone to see this and withdraw $100k from their 401k and then get hit with a $30k tax bill that they weren't aware of.

0 Votes

Even though it's penalty free, you still have to pay taxes on the amount withdrawn. So you do save the 10% fee (or however much it is) but your taxed at your normal tax rate. Just something to keep in mind.

1 Vote

I live right next door to one of my rentals. Haven't had any issues with it and I get to control who my neighbors are. There's a house across the street from me that I think may be on the market sometime soon that I'd also like to buy.

0 Votes

@Ethan Ross are you talking about the city of Hudson? I work in Hudson and live right across the bridge in Catskill.

0 Votes

All Forum Posts by: Chris Szepessy

Chris Szepessy has started 5 posts and replied 631 times.

Post: Newbie investor Hudson Valley

Post: Rental property investing Hudson Valley, Newbie !

Post: Rental property investing Hudson Valley, Newbie !

Post: Six Figure Student Debt

Post: Newbie looking @ vacation rental as first investment purchase

Post: How do I build credit to get a better loan?

Post: Withdrawal from 401k?

Post: Withdrawal from 401k?

Post: Would you live across the street from your rental property?

Post: In or around Brewster NY