All Forum Posts by: Colin Stuart

The tax assessed value of the property has nothing to do with actual value believe it or not. It's what some person in the county tax office says it worth. It's almost always less than the actual worth of the property. But a high priced sale could trigger the tax official to revaluate the assessed value and cause your taxes to soar so its worth noting that as a potential risk. But you can always appeal it. @Sammie J. Bell

@Steve K. While I agree with you that Farmhouse Chic and Rustic Industrial are overplayed, I think they will continue to dominate new inventory on the market as there are many buyers who still love and will pay top dollar for this product. I think in terms of design we will see 'modern minimallism' with an industrial twist (metals, light fixtures etc) emerge in more urban areas. And in more suburban areas we will see Farmhouse continue but evolve to incorpate brighter colors and themes. 

@Shaun McQuistonYeah Troy and up North seem like there taking off.

@Jamie Brayton Glad rent collection has been strong. By affordable do you mean section 8 or workforce housing? Sorry to hear about your other businesses, it seems like small business are facing the largest setbacks which is really sad. What parts of Troy are you buying in? I'm looking at a property in South Troy right now 

Hi everyone - I'm a multifamily investor and have a property management company based in the capital region. Given Covid-19 I wanted to check in with other investors who have investment properties / rentals in the Capital Region. How have collections been for you? Are you looking to expand or contract your rental properties in the capital region? Where do you think opportunities lie in the capital region? Specific neighborhoods? Do you think Troy is on the come up?  Anything else please feel free to let me know what your thinking or want to have a discussion about! Also, if you would like to connect please send me a PM, I'm always looking to network with like-minded people in upstate NY :)

@David Roman 

I think Poughkeepsie is heating up! There's a reason your seeing a lot of new development there, which is a good sign for buy and hold. If you notice, most of the new development is within close proximity to the train station (given its nonstop ride to NYC - offering people commutable upstate living with a NYC income which is a great combo you might want to capitalize on). If I was you I would look at investing close to the train since it seems to be in the 'path of progress' and stands to apprieciate a lot over the long term.

No question there are ton's of limitations with the new NY rent laws. I've been going old school (to compliment technology) and calling references. Everyone's references will say good things about them on the surface (otherwise they wouldn't put them down). Try asking references questions that sort of beat around the bush: about the prospective tenants reputation in the community, at work, within their family. Are they respectful of others? Respectful of their own things? If you were to change one thing about them what would it be? Etc, etc ----- Be as creative as possible here to flesh out who they are as a person and this should serve as a good baseline for how they will be as a tenant. 

You don't need college. I went and loved it, but if your committed to your goal, committed to self learning, and your goal is doing what MeetKevin and Graham Stevens did, do it. You'd be wasting your time and money if you went to college. But before you make that big life decision really think it through... Kevin and Graham saw an opportunity and they put themselves out there, and made great content. If your willing to put yourself out there, and become a successful real estate agent you definitely don't need college, and will have success in any RE endeavor you pursue after that if you commit. 

Good luck Jeffrey, I'm rooting for you! 

@Kylan Philbert-Richardson I agree with @Nathan G. that seller financing is probably what you are looking for and what you should be leading with when you reach out to potential sellers. 

However, I would also recommend learning about Master Lease's as they can be a useful solution if a seller is not keen on seller financing, and you are still looking to 'take control of' the property with little to no money down. Always good to have another tool in the tool box! 

Hi Kylan - Is your question how to ask a seller about a Master Lease (given the title of your post) or is it how to approach a seller to see if they are open to short term seller financing?