All Forum Posts by: Christian Reyes

I am looking at a property to buy and hold where the taxes are quite high. Over $9000 a year in NY. As such, everytime I run my numbers, I get negatives in cash flow due to the inability to get around the tax expense.

Heres my question:

What is generally tax deducted from a rental property in the course of operating it as a business?

Mortgage? Taxes? Water bills? Sewer bills?

In other words, if I am technically operating at a loss because I am spending most of my money on mortgage and taxes, can I deduct this expense and thus be better off in the long run?

Any and all help is greatly appreciated.

Hello all,

I am looking at a few rentals in Middletown NY. I'll be taking a drive over next week as I'll be traveling for work and will be connecting with as many agents as possible.

Anyone else have experience in this area? I'll be moving fairly close and this could be within my 2 hour drive radius for investing.

I'm mainly looking at MRFs. SFRs I'm weary of because of the taxes. I always worry that NY taxes will eat too much of the rental income.

Anyone have any input? Tips?

Thanks in advance!

Hello all,

Anyone happen to know any good GC's in the Westchester NY, Putnam, Dutchess areas? I need someone willing to come with me and give me estimates on rehabs after I've done initial due diligence.

Thanks!

I am curious to find out how this worked out. I haven't been able to find any motivated sellers willing to owner finance in the white plains area.

@Eduardo Demming, did you have any luck in hartford? I am currently looking into south Hartford on Putnam street. There is a multi family that seems like its cash flowing but the neighborhood looks kinda rough.

Thank you @Alexander Zurn for those suggestions. Yes we can petition to have our taxes lowered. I'll have to look into that. 

@Chris T. thanks for the suggestion.

Thanks for sharing @David Zheng again. Great stuff brother. 

This is only the beginning!

Great stuff @David Zheng. Were you able to estimate the rehab costs from the gitgo or did you find out after you had the inspector come through how much the rehab would be? Just curious.

How can one maximize cash flow if the property taxes are ridiculously high?

A $400,000 2 family in my area carries about $15k per year in taxes. How does one make a profit??

@John Hickey I've been dying to. Theres a few houses on that block along with across the stress I'd love to get my hands on and give some love to. Pleasantville is such a pretty neighborhood to have those sore sights.

My biggest issue would be the taxes. The taxes must be ridiculous, how can one buy and hold with such high taxes?