All Forum Posts by: Ceasar Rosas

Hey Matt,

You should need a builders risk policy. The cheapest I found was with Zurich/US Assure. They do my flips in NY, CT, and Pa and I've had success with them. May be worth looking into. I've done up to 4 unit properties with them, so you would need to verify if they do commercial. Hope this helps.

@Edwin De leon

Have you been working with any Realtors as of yet? It is nearly impossible to find a single family in the Bronx under $350k. Especially one that will pass VA financing. Your best bet is to look in CT and a little over an hour out. Unless you can source deals yourself, but even that will be extremely tough. Anything under 350k will have violations, need extreme renovations, etc.....

How are you buying, all cash? Mortgage? It truly depends, if you are solely looking for appreciation, I believe the Bronx is your best bet. In the Bronx on a single, unless you find a truly awesome deal, you will not cashflow on a single. A single family is going to cost you at the lowest end 450k, and as high as 800k+, depending on neighborhood, and you likely will not get rents 4500+. Where I invest in CT, I can definitely meet the 1% rule and cashflow is decent, but appreciation is slower. So what are your goals exactly?

Happy Holidays Everyone! Get Ready For Our January 11th Zoom Event: Featuring Giang Nguyen with One River Capital!

This zoom event is a great one to attend if your goal is to get into multifamily investing in 2023! Start the New Year off on the right foot!

The Fix Up is excited to offer you an AWESOME ZOOM EVENT to start off the year with, FEATURING: Giang Nguyen from One River Capital. At this event you will hear from Giang on the purchase of her, 1st - 42 UNIT MULTIFAMILY COMPLEX in Reading, PA!

ABOUT Giang Nguyen: Giang is a multifamily investor and syndicator. She has been investing in real estate since 2015, primarily focusing on value-add multifamily rentals. She has extensive experience in multifamily conversion, value-add strategies, and construction management. With over 10-years of experience as a scientist, Giang is highly skilled in collecting and analyzing complex data, as well as building and employing financial models. She applies this data-driven approach to help guide her teams in identifying key markets across the US and underwriting multifamily syndication opportunities. Giang reached her financial freedom through real estate investing and retired from her career at 31. She is passionate about helping people reach their own financial freedom and live a life by design through passive multifamily investing.

We are going to be doing ZOOM and in-person meetups in 2023. We are bringing back the meetup in the Bronx, and look forward to starting that up again. We do these events, to educate, form partnerships, learn, network, and surround ourselves with like minded people. If you're interested in value-add multifamily, you don't want to miss this one!

Enjoy your holidays everyone and reach out with any questions!

I love NY. I have invested in PA, NY, and now Connecticut. If I find a deal in NY that is worth it, I jump on it right away, but get beat out a lot. You have to SCREEN SCREEN SCREEN your tenants. You have to know the laws and rules and abide by them. I have seen very successful landlords in NYC and landlords that have had nightmare situations. Recently I know of a mom and pop investor who went 3 years with 2 evictions going on and no rent being paid, and I also know investors who have never had to evict. The difference has been screening, property upkeep, and rental prices. You screen properly, price slightly under market, and keep good property upkeep, you will have pretty good tenants. With that being said, I have started to look elsewhere because I want to get into larger properties and personally do not want to deal with rent control or stabilization. I currently own a couple of properties in NY and a 10 unit and 4 unit in CT. The only eviction I have ever had was an inherited tenant in CT. 

@Cole Britting

IMO, the best place to house hack in NYC is the Bronx. Still the most affordable borough and also appreciating the most. It is only appreciating the most because Brooklyn and Queens are practically at their maxes. You have some great areas to choose from with easy accessibility to public transportation. I, myself, have house hacked in the Bronx, and currently have a single family home in the Throggs Neck area. 

@Daniela Sanchez

What is your budget? What kind of numbers have you been getting? I have had quotes for clients who have been anywhere from 15k to 30k. I just met someone who does HVAC work and quoted one of our clients at about $16k, That was for 5 air handlers and 1 condenser installed in Long Island, but he does Westchester. He also just did some boiler work at a  property we have in Yonkers and the price was pretty reasonable. 

@Bill Keane

Hey Bill,

My partners and I own a 10 unit in Bristol and 4 unit in Manchester. I'm also doing a flip and we are looking for more properties. Let me know when you would like to connect.

@Marvin Scott Díaz

Welcome!! If you are looking to jump into buy and hold, then buy multifamily, 3 to 4 units preferably, would be your best option. You can use an FHA loan(203k option preferably) to get a value add deal. You must live in the property for at least 13 months. Learn some construction/maintenance to understand costs of taking care of a property. Save up at least 60k to 80k to get rolling. Or partner up with someone who has some experience and get rolling that way. Either be the deal finder or money partner.

@Ryan Dyess I think it's all preference. Our 1st 10 unit and 4 unit are in more rural than urban areas. We can see that appreciation will be slow, but the cashflow is solid. I'm currently looking to get into a more of a market that does have better appreciation and still with steady cashflow so that I can attract more investors. Frow what I've seen if you price rents right you still get a fair amount of tenant leads. I think the biggest fear is that rural areas primarily have 1 or 2 large employers and if they ever leave then it can get difficult and crash the area.