All Forum Posts by: Jay R.

I've been looking into real estate in PR for a while and actually spent a month in Rincón. Lots of nice properties but decided the market was a bit too hot and people were asking too much money. I opted not to buy at the time but have been keeping an eye on the market... also curious how this whole hurricane scenario plays out. If you have cash to buy a place I bet there are some good deals to be had. There is a fairly robust tourism industry there and you could easily find somebody to run your airbnb while you're not there... caretakers are individuals (not companies) who typically work for a percentage of the rental income.  

Sort of an unrelated question but does anyone know if mortgage interest paid in Puerto Rico is deductible for US income taxes? Or property taxes?

Too expensive to buy into this damn city so I want to try making money as a tenant! I'm the only name on the least for a loft in a prime NYC neighborhood. Have lived here for a few years and have a good deal worked out for rent. I want to try and sign a 2-3 year lease with my landlord (a management company) and then sublet my apartment to a few tenants for $700 more than it costs me. I have tenants lined up (2 of the 3 live here - just need to sublet my room) but how do I navigate the legality of this in NYC? Can I be on 2 leases? Can I get sued by either tenants or mgmt co for doing this?

Hey Tyler,

I'm in a similar situation to you. Live in Brooklyn, want to get into real estate investing but have very little experience in the field (even though my parents were landlords for many years). I have a good amount of capital ready for a down payment and a solid monthly income at my FT job. I'm looking for somebody to buy a multifamily with because they are ridic expensive. Thinking we would each live in a unit and rent the other(s) out. Does that sound like something you'd be interested in? Send me a message if so and we can talk more.

- Jordan

Hey Nik I'm in a similar position to you... looking to do the same thing in Brooklyn. These multi-family building are not cheap! I'm starting to think about trying to team up with another investor to purchase a 6 unit building and work it out to live rent free and build equity in the building. I don't know if this is something people do but if you're interested send me a PM and we can talk more.

- J

Hi @Nefera Croom,

I'm new to real estate investing and looking for a multifamily in Brooklyn as well. Not cheap, is it! I would consider going in on a 4-6 unit building in bed stuy or crown heights. Not sure if that helps or is something you're interested in but I thought I'd put it out there. PM me if you're interested and we can talk more.

- J

Hey thanks for the response! I'm planning to target parts of Crown Heights, Bushwick, and Bed Stuy... most likely through direct mail and flyers. I've also been browsing myhousedeals.com a little bit but it looks like things get snatched up pretty quickly there. I am definitely look to do fix and flip, but would hold (and live in it) if I found in place in the right neighborhood.

Great. Got a little ahead of myself and just jumped straight to where I thought I could get some info. Will complete my profile and make a more detailed post and try again. Thanks.