All Forum Posts by: Harold Looney

Brandon Morgan - I personally chose to do a house-hack in a 2 Unit Building in Bayridge Brooklyn so I did not have to deal with condo or coop rules. Have you considered house-hacking?

Tony Chen - I chose to househack a 2-Family in Bayridge Brooklyn instead of a co-op because it gave me more flexibility to manage as I desired without having to seek approvals from a co-op board. I've enjoyed the benefits of reduced living expenses, appreciation and depreciation. The property is cashflow positive when fully rented.

Bjorn Brandt - thanks for you ad. DM if your interested in discussing opportunities in NYC.

Ray King Sterling - Tell us more about your Investing Criteria. 

When I purchased the property 2007 for $900K, I was only seeking to reduce my living expenses/taxes and gain appreciation since I desired to live in Brooklyn. Initially, my ex-wife and I lived in Apt 1 and we rented out Apt 2. 

Around 2010, after my divorce, I started also renting to roommates in Apt 1 where I lived. Since them I've sometimes rented the entire Apt1 either to a family or by rooms and I've lived somewhere else. 

My average depreciation is $12K/year which reduces my tax liability. The current market value is $1.6M and I've found creative ways to leverage my equity. At full capacity without me living there, my net profit is about $1K/month. 

Allyson Davis - instead of continuing to pay rent in Manhattan, have you considered house-hacking a small multifamily in Brooklyn or Bronx?

Colin Mills - I've house-hacked in Bayridge Brooklyn for over 16 years. I've seen several properties in Sunset Park that would be great opportunities to house-hack and rent by rooms. DM is you want to discuss further.

Congrats!

Quiana Berry - I've house-hacked in Bayridge Brooklyn for over 16 years. This neighborhood is 7 miles from downtown Manhattan, the commute via subway is 45 minutes. I've previously had Doctors say in my building who were doing there Residency at a nearby hospital.