All Forum Posts by: Dave H.

Frank, do you see appreciation improving as more people move further north from the city? I've spoken with a few people in fishkill who made some money in the last couple of years selling as city people have moved up. This is a small sample size of course, but I the area has a lot of potential (I do admit bias though as I love dutchess).

Anyone familiar with the Fishkill/Wappingers/Hopewell Junction area? I'm looking for overall appreciation in the market (for my holds) and demand (for my flips).

I am in the early stages of research on the northern suburbs of the city. Looking primarily at Dutchess, but am also interested in Putnam and Westchester. Can any builders/investors provide their thoughts on:

market generally for spec builds and/or small scale subdivisions

price per sq ft of build

price per sq ft land

good local banks for construction loans

any good GCs to recommend

Of course if anyone has other answers, tips, stories, etc... to provide those are certainly welcome. Basically, I'm just trying to get a discussion going. Thanks.

Brian, would like to here more about this co-op.

@Bill Thompson thanks for the input. I have a couple of followup questions:

-how did you find your GC?

-how did the modular homes enter the picture? (sales meeting, prior experience, etc..)

-you mentioned prior rehabs, did you do multiple other projects before venturing into your first build?

-did it take long to rent out the units? and do you find the new build attracted a higher quality of tenant?

Thanks again for all your help. BTW the house looks fantastic.

Putnam and Dutchess. Cash flow at least 250 month per unit. Ideally build it as 4 unit, 2bd 2ba at 1000 or sq ft. Land up here starts at 150k.

So, I am still early in the process but I am looking at re investments. I am looking at 4 and 2 unit properties. I have been unable to find any that fit what I am looking for. My market is the northern suburbs of NYC so its costly. I have only done some back of the napkin analysis but it looks like it is cheaper to buy land and develop my own 4 unit as opposed to paying for an existing property and then having to spend thousands to improve it. I like the idea of newer properties as they attract better tenants (for the most part) and then I can defer repairs for a few years. 

The catch however is that I am no GC. Anyone ever done this early in their career? or as their first investment? I would love any/all advice. thanks. 

I too am interested in Poughkeepsie. Would like more information on the area. I know Beacon has had a nice run of revitalization, is Poughkeepsie next?