All Forum Posts by: Jason Lam

Thank you Peter for your response!

Hi BP,

I am a RE investor in NYC area focus in multifamily (<4 families) rental. I've decided that the Free Market multifamily rental housing (<4 families) market is just way too hot for me at the moment, but I would like to still take advantage of the low interest rate and inflation rate (don't know how much longer...). Then lately, I found myself seeing a better returns and higher CAP rate in stabilized rental building (low raise 6-8 units) compares to other FM multifamily rental building in the area. Which peeked my interested in the stabilized housing sector for my next investment. I understand that with the passing of the latest Housing Stability and Tenant Protection Act in 2019 in NY, it really eliminated the up-side of stabilize building. Nevertheless, is it still a good investment if it trading at a high cap rate and with descent cash flow? Are there members out there who has experiences in Stabilized Housing and willing to share some tips with me on how to manage and what to expected as owner? Or even talk me out of the Stabilized housing.

Jason

Hi BP,

I am a RE investor in NYC area focus in multifamily (<4 families) rental. I've decided that the Free Market multifamily rental housing (<4 families) market is just way too hot for me at the moment, but I would like to still take advantage of the low interest rate and inflation rate (don't know how much longer...). Then lately, I found myself seeing a better returns and higher CAP rate in stabilized rental building (low raise 6-8 units) compares to other FM multifamily rental building in the area. Which peeked my interested in the stabilized housing sector for my next investment. I understand that with the passing of the latest Housing Stability and Tenant Protection Act in 2019 in NY, it really eliminated the up-side of stabilize building. Nevertheless, is it still a good investment if it trading at a high cap rate and with descent cash flow? Are there members out there who has experiences in Stabilized Housing and willing to share some tips with me on how to manage and what to expected as owner? Or even talk me out of the Stabilized housing.

Jason

@Jason T Elvin, my management company banks with BOA and I have been collecting rent via Zelle. If you are just looking for money transfer function similar to Venmo without the fancy tenant functions/management, then I think it is a good alternative. 

Hi, new member here on BiggerPockets and first time posting on this Forum.

I’m a young RE investor owning mainly 1-3 family housing all at market rate rent via Own and Hold strategy in Queens, NY. I currently manage all my properties since I have the time and want to save on the management fee. (Although I plan to outsourcing it once I scale up)

Lately I decided to make the move into low-rise multifamily housing (5-15 family) in Queens and Brooklyn. When I started looking for deals, I quickly notice that most older multifamily housing here are rent stabilized. To be honest, I know nothing about rent stabilized housing and on how to manage them.

Could someone please give me some tips on what to look out for when dealing with rent stabilize building /units. What regulations and departments (if any) that I have to follow and report to within the NYC? And finally, what sort of cash flow and COC return am I expecting with rent stabilized housing? Most deals I looked at recently will only give me around 2-3% COC return... I probably didn't' look hard enough but I just want know if I can still get about 10-15% return like I do with 1-3 family housing.

Thank you all for your time.

Jason