All Forum Posts by: Cree Quaker

There are two. One is formerly Mid Hudson Valley REIA, and now called Legacy Wealth Builders: https://www.lwbreia.com/home - they do Zoom Meet-Ups

Another is one listed under Meet-Up.com - Kelli Williams of The Machree Group runs it. I'm not certain if they are doing Zoom or not.

Fewer opportunities in Rhinebeck, some in Red Hook, though more in Milan.  Have done several in Tivoli as well.

We can only ask for first month rent and one month security deposit now.  If you haven’t read the new rental laws in NY, best to go over them as it’s a brave new world in NY rentals.

As an aside, I had a couple ask me if I knew of any rentals.  I’m happy to pass you their information if interested.  No fee, etc just good neighbor stuff 😊

If units are nicely appointed and stylish, I've had no issue finding tenants. Posting to FB, Zillow, Hot Pads, etc...as a broker, I also place in our MLS.

If units are HD cookie cutter, it’s a bit more challenging finding tenants.  I have units outside NY and similarly, nicely appointed units with a good team, very little need for a property manager - unless you have many doors and don’t want to to be hands on.

You can absolutely manage it on your own.  Your realtor should be able to assist with a team for repairs, as needed.  Locate good tenants, keep the building in good condition, you should be fine.

As someone who owns a STR, and is a RE broker in Woodstock, I would not combine lots - the tax decrease would be minimal, and you may not be able to sub-divide easily again.

You don’t need a separate lot to put up a tiny house.  You might sell the lot if it’s not that important to your existing home - or put up a larger house, and sell it o off-set your current costs.

Your income is very low.  Guessing you are assessed somewhere btw 550-600k, and likely have a good sized house.   lower your weekday rental rate and keep weekends high.  Limit the number of guests at the discounted rate - you should be able to get your income up....

Hope that helps a bit!
Cree

Try Judy Atwood in Woodstock.  Lots of regulations coming into effect for both short term and long term rental.  I would check with your realtor.

They are allowing people to share rooms in their home more freely, but it does make other towns more appealing for investment.  Check West Hurley, West Saugerties, Phoenicia, Shandaken, Shokan, etc.  All are close to Woodstock, but do not have the same restrictions...

As a side note - if you STR in the "off season" you can rent the summer out if its at least a 90 day term. Creativity within current zoning may be the key to success...my two cents...

It has definitely changed the landscape of short term rentals in Woodstock. Other nearby towns do not have the same regulations, but many towns do have STR on their short and long term agendas. If you are purchasing a small house and looking to cover modest PITI then you should be fine. STR on large homes vs small homes tend to have a similar net in Woodstock when all is considered.

As with all investments, you need a good set of numbers to make an informed decision.