All Forum Posts by: James Aravena

I have made a flipping spreadsheet and a multifamily spread sheet. I'm not sure how to post them on the file section so email me if you want them or would like to talk about them.

 I will shoot you a message.

Hello everyone. 
There are two property In queens that my family owns and I manage! The original insurances are covering the original purchase price of the properties, which are 25% of the worth in this day and age. I am also in the process of getting these properties into LLC's to minimize liability since these are now quite hefty assets. My LT lawyer told me to make sure I update my insurance policies when I eventually transfer my LLC's or get an umbrella policy. I also own a personal vacation home in the Poconos. I would love to hear your insight about what I should do or if there any recommendations that you guys have for insurance in NYC.

Thanks in advance, 

DM me, I would love to chat more about it.

James

Thank you for your response. I have job growth and labor growth in there as well as unemployment rate. Going to look into GDP and industry diversity. Anything you feel is really important for the commercial and industrial industry?

Hello everyone. I took an excel sheet I found online (from "Tactica") and tweaked it a bit to help track and compare different major cities/ different local cities by taking its population growth, labor stats, and rental stats/ multifamily stock to help someone visualize the different places and see where their next investment could be. I am doing this help me find the ideal commercial/ multifamily market in different areas in the US. 

I would love to hear what places you guys recommend as well other data sets I should take into account! I used a python code to help get some of this data which is also linked in there as well. Thanks!

https://docs.google.com/spreadsheets/d/1pnilU2UOvS5o4-M1R4OU...

 Hey Michael. I'll send you a connection request.

 Yes, I don't doubt that! 

Hey yal. 

Here in NYC but looking to acquire multi families out of state for a good mix of appreciation/ cash flow. I'm 21 years old with two inherited properties here in NYC but me and 2 buddies are looking to expand our portfolios. I have spoken to a few realtors down south in Georgia, some of the Carolinas, and Jacksonville FL. Me and 2 buddies are looking to take a trip between May 13-17 to the three states just mentioned but are still honing down the cities. I would love some guidance and warnings of the places you guys have been to or invested. Realtors, PMs, and contractors: give me a holler I would love to talk and see if we can setup times. I mainly want to get a feel how for how different cities function and have some fun along the way

If anyone has any enlightening info, specifically on multi family properties (since there's 3 of us) I'd love to talk and hear about success stories or failures. 

James :)

 My cousin does it. Makes bank, but if HPD catches you here in NYC at least you can get fines. Just pulling something from the internet (don't trust everything you see so take this with a grain of salt I'm not a lawyer): "If the building in question isn't officially designated as an SRO or hotel, it is illegal for landlords to rent individual rooms to tenants for a number of reasons, including that it could allow landlords to evade the maximum rent permitted by the Rent Stabilization Law and Code."

Also evictions could become a nightmare as well. My dad dealt with a few years ago. Rent by room is doable but tricky and possibly could lead to other issues. I'd contact a lawyer to be certain before you actually consider doing it. Perhaps could be better to live in one apartment of a multifamily (or even a basement of one), live broke for a few years, fix it, then do it again til you have enough money coming in. 

 We can't rent by room in NY. Can get you in major trouble