All Forum Posts by: Account Closed

@Wesley W. I'm an agent and investor in the Capital Region - lets connect - I sent you a request.

You could definitely charge a cleaning fee - the way I do it is that security deposit will be returned minus xxx. The xxx is the cleaning fee. Secondly, I don't think it's ever NOT possible to do direct deposit - my rentals are all on electronic payments, it doesn't have to be direct deposit but you can easily convert your tenants into electronic payments. If my tenants need me to collect the rent in cash or check - there is a fee for travel charged to them in addition to administration fee for depositing the check/cash into a bank account. Once the tenants see these fee's - they'll understand and switch over. That being said, you can't just implement this immediately - you'd need it written into your lease and consult a RE Lawyer as well. 

Lets connect and we can share some more idea.

@Andrew Bailey

You're welcome! I'm also a real estate agent so if you want to shoot me a message then we can take this conversation offline and it'd be a easier to communicate as well. Shoot me a message and I can surely help you out with all your concerns and let's see if I can get you into a right home for the right needs :)

Hey @Andrew Bailey - I agree with @Account Closed said is accurate in regards to rent - if it's in Arbor Hill then good luck and double your expenses because those properties definitely need work. That being said I actually ran your numbers through a proforma I use and here is the break down for that: 

Purchase price: 129,900

Effective Gross Income: 22,086 (vacancy 10% of gross income; 2454)

Expenses:

NOI: 10,170.80

Financing: 

As is your property you're looking to purchase is valued at 7.8% cap rate and will produce cash flow of $3500/ year. This cash flow is not taking into consideration principal pay down through your monthly payment. Total amount out of pocket is roughly: $ 45,217.50.

There's a lot of information here to take in, but that's what I'm here for. If you have any questions go ahead and message me and lets see how we can get you into this property at a "right" price. 

@Jim S.

Where in albany are your properties? I sent you a request to connect, would love for us to connect. I'm investor and agent in upstate ny (capital district) and actually interested about how you're investing all over without seeing a single property and still netting.

Looking forward to chatting with you.

@Cynthia Pines

Just to piggy back on everyone else here - state farm has my business. They're cheap and reasonable, my personal home and investment is with them at the moment.

If you want another contact for state farm let me know. My agent is from the east greenbush office.

@John Foster Megan boggs - Ianniello Anderson. My most recent purchase was through her - very responsive

I know, I stated that Rockland is part of the NYC Metro Area, that by definition means:
New York City (the most populous city in the United States), Long Island, and the Mid and Lower Hudson Valley in the state of New York; the five largest cities in New Jersey: Newark, Jersey City, Paterson, Elizabeth, and Edison, and their vicinities; six of the seven largest cities in Connecticut: Bridgeport, New Haven, Stamford, Waterbury, Norwalk, and Danbury, and their vicinities.

I'm originally from Poughkeepsie, I have it the worst because "downstate" considers me part of upstate, but upstate considers me part of downstate. I base it off of whats the farthest north metro north goes, poughkeepsie - therefore I'm considered downstate.

@Cindy Truong that's the first time I've heard anyone call Rockland upstate lol it's part of the New York City Metropolitan area. 

@Thomas Wong I'm an investor in Albany, message me and we can chat and I can answer all your questions

@Driton Selimaj also if you've never owned a property, I suggest you start small or bring in a partner that has done deals because it seems like your expectations are ambitious.