All Forum Posts by: Mohammed Rahman

Hey @Rene Hosman

As a NYC broker, I can tell you that zoning knowledge is absolutely crucial for spotting opportunities, especially in urban markets. 

Mixed-use zoning has been a goldmine for many of my clients, particularly those who started with owner-occupied properties and later transitioned them to full commercial use. 

I've made it a habit to track Department of City Planning updates and zoning proposals because they often signal where the next hot areas will be. For example, recent rezoning in parts of NYC has created fantastic opportunities for investors who were paying attention before the changes hit mainstream news. Build relationships with local architects and expeditors - they're usually the first to know about upcoming zoning changes and can provide valuable insights.

Hey @Renee Coss

Great that you caught the STR restriction before starting construction!

In my experience, a garage ADU can still be profitable with long-term rentals, but you'll need to crunch the numbers carefully.

At $1,600-1,800/month, how does this compare to your estimated HELOC payment plus other expenses (maintenance, utilities, etc.)? Even if it takes longer to pay off, having a steady, reliable tenant might actually be less stressful than managing an STR.

FYI - consider starting with a regular rental but structuring it as a 6-12 month lease. This gives you flexibility to reassess if Inglewood's STR regulations change in the future.

@Olga Nadal

This is a tough situation, but here's my direct take: If you're losing faith in the investment, paying capital gains tax might be better than being stuck in a problematic deal for years.

Remember, a bad investment can cost you way more than the tax bill you're trying to avoid. In my experience, when investors force themselves into deals just to complete a 1031, they often regret it.

Unfortunately, since you're outside the identification period, your only options are to either close on the identified property or terminate the 1031 and pay the taxes. 

Before making your final decision, I'd suggest running the numbers both ways - calculate your tax liability versus the potential long-term impact of accepting those unfavorable terms you mentioned. Sometimes paying taxes is actually the more profitable path!

Hey @Mose Gebremeskel

Beyond Furnished Finder, I've seen landlords have great success with sites like Zeus, Kopa, and Landing for mid-term rentals. The key is understanding who your ideal tenant is - traveling nurses often use Furnished Finder, while corporate professionals might be more active on Zeus or Landing.

Quick pro tip: Don't overlook traditional platforms like Zillow or Facebook Marketplace - just make sure to clearly specify "3-6 month furnished rental" in your listings.

Hey @Anne Christensen - Having been on both sides of real estate meetups (attending and hosting), I can tell you they're absolutely worth your time if you pick the right ones. 

Yes, you'll probably get some pitches - it comes with the territory - but legitimate meetups focus on providing value first, with networking happening naturally. 

For out-of-state networking, I'd focus on engaging regularly in BP forums (like you're doing now), joining virtual meetups in your target markets, and connecting with active BP members who consistently provide value here. 

Quick tip: When you find a meetup that interests you, check the organizer's post history and engagement in the community - it's usually a good indicator of their true intentions.

@Giuliano Ka - development lot for $600k in the Bronx is a tough sell.

Hey @Ignatius Okeke - you're facing the same wall that most newbies face when they enter: everything works to a certain degree. 

When it comes to finding off-market deals, I’ve seen investors have success with a mix of these platforms, but each has its strengths depending on what criteria you’re focusing on:

• PropStream is a solid choice for in-depth data, including absentee owners, tax liens, code violations, and vacancies. It also pulls data on pre-foreclosures and auctions, which can be useful for off-market deals.
• Deal Machine shines if you’re focusing on driving for dollars and building your own leads. It doesn’t have as many pre-built search filters as PropStream, but it’s excellent for quickly adding and managing leads on the go.
• Invelo and Property Radar are good for more niche searches like probate, inheritance, and deceased properties, especially if you’re trying to dive deep into public records.

I’d suggest trying out a couple of free trials to see which interface and data best fits your specific strategy.

Bump - see everyone tomorrow!

Hey @Glenn Larson  You’re right, seller financing really depends on the seller’s flexibility and the specifics of the deal, but I can give you a couple of typical structures to think about:

1. Interest-only payments: In this setup, you pay the seller interest on the loan without paying down the principal right away, giving you time to stabilize the property or improve cash flow before paying it off or refinancing.
2. Balloon payment: You might negotiate a lower monthly payment (possibly interest-only) with a balloon payment due after 5-10 years. This can be good if you plan to refinance or sell before the balloon is due.
3. Low down payment: Seller financing often allows for more flexibility with down payments. You might put down 10-20%, which can be easier to manage compared to traditional financing.

A motivated seller can be open to different terms, especially if the property has been sitting for a while, so just be creative and make sure the deal works for both sides. Good luck!

@Cody Anderson

Hey Cody! House hacking with friends can be a great way to share both the benefits and risks, but you definitely want to set the right expectations from the start.

The key to making this work is transparency. I’d suggest drafting a solid agreement upfront that covers everything—ownership percentage, costs (mortgage, repairs, utilities), how profit is split, and even exit strategies if one of you wants out. Since you’re considering Tahoe, where you might use the place as a short-term rental when you’re not there, it’s also good to outline how you’ll handle personal use versus renting it out.

I’ve seen folks succeed with this by treating it like a business, even if you're all friends. At the end of the day, if everyone’s on the same page, it can definitely work!