All Forum Posts by: Dan Turkel

Hey everyone, As I practice developing accurate ARV's for various properties, I'm faced with 2 particular challenges: 1) How do I know which 3 or 4 comps I should stick with in a comp analysis if I have a list of 40 comps that are fairly similar? 2) Once I narrow it down and just have a few good comps, how much should I adjust each feature of each one by? For example, if the subject property has 1 bathroom and one of the comps has 2, how much should I increase that feature by in the adjustment? I know this varies by market but I have no idea how to figure this out for the market I'm in. Any advice would be much appreciated. Thanks everyone!

As a non-accredited investor, I find it frustrating that I can't use sites like realtyshares to invest. I can see the potential in this form of investing and I'd love to know if any of you know of any sites that allow non-accredited investors to invest via crowdfunding. Thanks!

@Aaron Gordy

Great advice, thank you! 

Arpan Patel I don't see anything about income and expenses for rental properties in Staten Island. Can you please send me a link for any property in this area with the info I'm looking for as an example?

Austin Fruechting Thanks for your reply. I plan on doing this but just wanted somewhere to start. For example, how do you go about getting a rent roll for a property?

Arpan Patel Thanks for your reply. I'm simply looking for a place where I can find info about properties (income, expenses, a rent roll, etc.) Is there a website with all of this info? For example, if you were going to begin analyzing properties in Staten Island, NY, how would you begin? Would you use a website? Which one would have detailed records of the property's income and expenses?

Can anyone please explain to me how a RE investor typically goes about obtaining rental property brochure proformas for properties within their market of interest? I'm trying to start practicing property evaluation and would like to know where to find these types of brochures that would have things like a unit mix and rent schedule table in them. Thanks!

Newbie from Staten Island as well - glad to exchange ideas!

Thanks for the replies, everyone! Louise Alexander , your advice has put me at ease - thank you! I think we're going to just rent for the next couple of years.

Hi everyone - first post here!

I'm currently debating on whether or not my fiancee and I should rent for the next couple of years or house hack in Staten Island, NY. Here's our situation:

- She is in a residency program and will be making $15k per month once she finishes in two years from now. As of now, she's making ~2.5k per month

- I have a job secured for the next 2 years and make about $2,000 per month. 

We're considering renting for the next 2 years paying $2k per month in rent during that time.

Based on the rental rates and house prices I've seen in Staten Island, I'm not sure if it's worth going through with house hacking if we know we're going to move across the country 2 years from now and also have a much higher income then (and would very quickly make back whatever cashflow we would have gained if we had house hacked). I also don't feel comfortable with the idea of eventually renting an entire duplex out when I'm thousands of miles away from it once we move. 

I'm new to all of this and would really appreciate someone running through the numbers and theory with me to enable me to better understand whether or not it would make sense for us to house hack now.