All Forum Posts by: Dor Sagi

I have one a unit rented out in a multi family brownstone in Brooklyn, NY. I’m looking for someone to just be a resource to address emergency issues while I’m out of town. For example, the power tripped and the tenant is in the dark. I need someone to be available to stop by and go in the basement to reset the panel.

Any recommendations for how to find someone? I also have a unit available that I can offer a great deal on if the person is interested in living there.

Hey Kiah!

I'm a real estate agent in Brooklyn. If you need help renting out your units I would love to connect.

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Port Huron Rental Certificate:

1. How often do you need to renew? (Annually, bi-annually, when exchanging ownership, etc.)

2. I saw on the city's website what's the registration fee, however, I couldn't find how much the inspection is?

Thanks!

0 Votes

Detroit, Michigan

Hey everyone! I'm looking at a Triplex deal in Port Huron and was wondering what's your take on the area now in 2022? One of the units is a studio. Is there any demand for studios in the area? Is there still a lot of demand for good rentals?

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Hey @Maggie Blackburn! My husband and I are having the same debate. I feel like we have a lot to talk about! I will DM you now :)

1 Vote

New York City, New York

Quote from @Drew Sygit:

@Dor Sagi Mt Clemens, as @Paul S. states, is a fickle market. Actually, there are several neighborhoods in the City of Detroit that are probably better investments than Mt Clemens.

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

Thanks @Drew Sygit

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Quote from @Paul S.:

Originally posted by @Kyle Johnson:

I have a triplex in the Mount Clemens area out side of Detroit that I am closing on in the next few weeks. I was wondering if anyone had any recommendations for great insurance providers in the area. I planned on looking online and checking out some reviews of some companies, but if anyone has any referrals/recommendations, I'd be happy to look at them.

Ugh, that better be a great deal in Mt.Clemens.... what realtor talked you into that?

@Paul S. I'm looking at a Multifamily in Mount Clemens and I'm wondering about the response above. Is that not a good area?

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Quote from @Eric Hajdu:

@Dor Sagi

Congrats on your search, I can give a bit of input as I recently bought a multi family in cobble hill and have a few friends active in the Bushwick market.

You will have a tough time getting a 5 cap rate in Brooklyn, so you should have modest expectations as far as cash flow. You are really buying here for appreciation of the asset and a huge pool of willing qualified tenants.

In terms of monthly expenses, you will have the insurance policy, roughly $4k annual, common area electric- $150 monthly. I wouldn’t hire a mgmt co for 3 or 4 fam, there are tons of individuals who do the trash/light cleaning for small multi fams and it’s very reasonable, $100-$150 a month. These same people can do the snow cleaning as needed for an additional fee.

Feel free to reach out if you need anymore specific info. or referrals, best of luck!

Hey @Eric Hajdu! That's super helpful! I will reach out if I have any more questions!

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New York City, New York

Some questions for people who invest specifically in Brooklyn, NY.

I'm looking into small multi-family properties with 3-4 units.

Ideally in one of the following neighborhoods:

Bushwick, Ridgewood, Williamsburg, Bedstuy, Clinton Hill, Crown Heights, Prospect Heights, and the surrounding areas.

1. What numbers should I realistically aim for in cash flow and cap rate?
2. What and how much should I include in my expenses? (besides taxes)

Cold water? Electricity? (The tenants pay for their own gas, electricity, hot water)

Snow shoveling I'm assuming that the super of the building will do which is within the PM charges?

4. How much do property management companies take in Brooklyn?

Thanks!

2 Votes

New York City, New York

The climate crisis is real.

Do you take it into consideration when:

- Choosing where to invest (location)

- Choosing a strategy (buy and hold, flopping, etc)

- Climate proofing your properties

- Etc.

Would love to hear some thoughts!

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All Forum Posts by: Dor Sagi

Dor Sagi has started 6 posts and replied 29 times.

Post: Looking for Investments / Investors for the Arts!

Post: An affordable property manager/ live-in super for a NY unit

Post: Port Huron MI Rental Certificate

Post: Pros and Cons of investing in Port Huron, Michigan?

Post: House Hacking in Brooklyn, NY—is it worth it?

Post: Insurance providers for Multifamily near Detroit

Post: Insurance providers for Multifamily near Detroit

Post: Deal Calculation Factors - Brooklyn, NY

Post: Deal Calculation Factors - Brooklyn, NY

Post: Climate Change and Real estate investing