All Forum Posts by: Edgar Martinez

My wife and I are interested in this area too. We took a drive through there one day last summer. Seems like a good area to invest. I could see it appreciating too.

@Jerome Jackson my wife and I have similar areas in mind. We should definitely connect.

I’ve been on and off BP for a while now and I’ve just discovered this local section. Welcome @Jerome Jackson. My wife and I just moved back to the area (Newburgh) and bought a duplex. Looking to get our next deal soon.

Interesting. My father just got laid off. He’s been thinking about hanging up his own shingle for a while now. Might be the right time.

@Jerome Jackson @Clarence Bell any luck? Send me a PM and I possibly might be able to help.

@Samuel Pavlovcik yes thank you. I forgot to add that in my original post.

DISCLAIMER: I'm not an attorney and I'm not giving you legal advice.

So I'm going through this now. I see you live in NY as well and if you're planning on investing in NY there's a lot of rules to consider.  From my understanding, according to new laws passed in 2019, landlords aren't allowed to collect more than 1 month’s security deposit. So that kind of kills the "pet deposit". Additional rent may also be tricky. I did see something like having a separate lease with the pet. Not exactly sure how that works though. 

Just thought I'd share what I've found so far.

Wow congratulations! That was a very quick turn around. What are the specs on the house? And how long did it take for permits to get approved?

I’d definitely recommend seeking out a local architect. Find a small firm. They’re probably not as expensive as you may think and it’s shields you quite a bit on the liability side.

I’m wary of just buying plans online. How do you know they meet your local code?

I’m in kind of a similar position. I’m trying to get a more knowledge on the inner workings of real estate development.

One developer I know recommended joining the Urban Land Institute. A bit pricey for me at the moment but it is a good resource. They have a lot of courses and training material. He also recommended the following 2 books:

Finance for Real Estate Development

Making it in Real Estate

Other books I’ve heard mentioned on podcasts that are on my shopping list are:

Best Ever Apartment Syndication Book by Joe Fairless

Raising Private Capital by Matt Faircloth

And of course browse through BP blogs and forum posts and podcasts. And here’s cool searching hint I learned, I think it only works when your searching on a computer/laptop, but you can search keywords and filter by medium. I particularly like this when I want to re-listen to podcasts on a specific podcasts.