All Forum Posts by: Mark Wright

Thank you for responding to my post! Your friend's post office sounds very similar to the property I own. My property is set in a small neighborhood in a quiet lake town. The square footage is 1,200 and the income from this property is $14,200/yr. Has your friend had any luck negotiating anything else in the lease besides price? We are responsible for all of the maintenance of the building, and they take care of custodial. They take care of plowing of snow in the winter, and we care for the landscaping. I have a feeling there is little negotiating outside of lease price. I would greatly appreciate any tips your friend would like to share. Please let me know if they would like to exchange contact information.

Best Regards,

Andrew

My pleasure! I try to respond to stuff that I'm at least somewhat familiar with or see similar experiences with others.

I'll have to ask him, but my guess is there isn't much wiggle room. Not sure how big the lot/driveway is, but that actually sounds like a bonus to you. My buddy has to pay for snow removal; I know because I was bidding for the work haha. (I do property management)

0 Votes

Upstate New York, New York

Going into winter & assuming you're in upstate NY, yes.

Better now than mid January when it's a high of 0°. :-)

2 Votes

Upstate New York, New York

Quote from @Sierra Gonyo:

Quote from @Mark Wright:

Quote from @Sierra Gonyo:

Hi! One of my family members is looking to sell her home asap. Home is located in Mooers, NY. 1986 mobile home with 4 bed 2 baths, half an acre of land, 2 car garage with workshop, paved driveway. Valued at $85,000. Could someone help me connect with an investor who would be interested in a cash buy?

Hey Sierra, I'm relatively close to Mooers & might be able to help.

Any interest in listing it, or are they looking for a quicker sale?

if it's a 4 BR, I'm guessing there's a decent size addition to it?

Yes, 2 additions actually. Looking for a quicker sale/cash buyer to get off her hands asap!

Interesting!
I will pass it along to anyone that I think might want to invest around there.

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Upstate New York, New York

Andrew,

i live in a rural location where the convenient store has the Post office attached/renting from them.

i know the owner pretty well & can inquire)let you know. Unsure of the square footage of yours, but I believe the one here is $14k annually for rent.

0 Votes

Upstate New York, New York

Quote from @Sierra Gonyo:

Hey Sierra, I'm relatively close to Mooers & might be able to help.

Any interest in listing it, or are they looking for a quicker sale?

if it's a 4 BR, I'm guessing there's a decent size addition to it?

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Upstate New York, New York

Which part of NY are you in? Are there any potential STR regulations that would come into play?

Best of luck this weekend with the showing.

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Upstate New York, New York

Quote from @Devin Peterson:

Ethan, you need a blanket / portfolio loan for section. If you are seeking a bunch of smaller assets in the same general area, this loan will slow you to close and fund the note covering all properties at the same time. The same standard DSCR rules apply!

Lmk if you have any questions - good luck!

How about a larger complex? (40 units to be specific)

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I was in Littleton last year (i know that's more north, I believe) to pickup a sander & was surprised by the appreciation.. but it's still a cool town.

Manchester is a nice city as well. I lived in Claremont for a year or so as a kid & would go there often.

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Manchester, New Hampshire

I'd recommend the Adirondacks for either LTR or STR, but specific to each town. I wouldn't really recommend Malone; not much economic development. Plattsburgh might be a viable option for college rentals. (I'd be happy to help you look there.)

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Upstate New York, New York

What do you think the highest & best use of it is? You haven't mentioned the lot size, but is it possible to put more than one dwelling on it, or SFH & ADU? Given your neighborhood ratings, I'm guessing it wouldn't be a great candidate for STR/MTR.

Worse case scenario, can it be re-zoned commercial or mixed use & you put some sort of self-storage on it?

1 Vote

All Forum Posts by: Mark Wright

Mark Wright has started 0 posts and replied 40 times.

Post: Negotiating a lease renewal with the USPS United States Postal Service

Post: Would you replace a furnace before it breaks?

Post: Looking to Sell Home

Post: Negotiating a lease renewal with the USPS United States Postal Service

Post: Looking to Sell Home

Post: STR Lakefront Property

Post: Financing for section 8 rentals

Post: Buying value add 3-4 unit in SO. NH

Post: Where to invest upstate (and New York state logistics)

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