All Forum Posts by: Giordano Rodriguez

@Kasaung Anderson welcome! Sounds like you have an interesting project in your hands. I think I would personally opt for the (2) multi families on the property. This maximizes cash flow. There are some banks or hard money lenders that would fund this project for you. I can make a recommendation if you need one.

Hello @Baron Harper and congrats. I own a STR in Ulster County. Specifically Woodstock. There's a lot going on in the Catskills. I'd be happy to connect with you. Let's chat

@Jeremy Cardenales I'm in NYC I'm also in the military. We should connect.

@Sean Lasher Welcome to BP. That's exciting. I'm local to NYC and also invest in Upstate. (Ulster County). I'd be happy to connect with you.

I have a property in the Catskills that I rent out for short term rentals. Did you ever find a property? 

@brendan Harrison, I wish I had more information to give you. I ended up finding another deal and put that VA construction loan on the back burner. But Chris makes a great point.

Hey Jeff,

The info checked out. They provided their bankers information.  I spoke with them and bank verified.  

Hi John, 

Thank you for the feedback. The property will come with a vacant lot. Which I can probably fit about 20 cars. I could charge for parking spaces. Worst case scenario $50 a car. 

The rents seem a bit under market. It's currently 100% full. It's section 8 housing guaranteed 5k a month paid by the government. The difference comes from the Tennant's. 

It's currently an emeging market. With a strong interest from NYC investors buying up property. 

Thank you for the feedback. Yes I am aware that it's cutting it close. I'm thinking if I can buy and hold the asset should appreciate. 

As far as management fee. I'll handle that for now and save where I can. 

I appreciate all the advice. 

Hello Todd!

Thanks for the reply. The rate is 4.5 variable after 5 years. 

Please see numbers below. 

RENTS 2016 Total Rent Collected  $75,300
#301 $800.00  2 Bedroom #302 $750.00  2 Bedroom #303 $725.00  1 Bedroom #304 $775.00  2 Bedroom #305 $750.00 1 Bedroom  #306 $825.00 2 Bedroom  #307 $850.00 2 Bedroom  #308 $800.00 2 Bedroom 

2016  Expenses - $27,007.09-  2016 Income –$75,300 
Property Tax $7,296.05 School Tax $9,314.56 Central Hudson $584.72 Water/Sewer $3,311.76 Insurance $4,500 Snow removal $400.00 Garbage removal $1,200 Lawn care $400.00