All Forum Posts by: Jeff Senkiw

No major employment opportunities in Kingston and relatively poor schools. This makes that market relatively unattractive. 

In Slingerlands, Delmar and Glenmont you could probably get close to $950 per month. Nicer areas, better school district. You could almost draw a line between the three towns. That's where I'd look to start a house-hack. South of those three towns can get questionable. 

My initial thought: you are going to have a really difficult time getting $950 in Selkirk. It's not an overly desirable area, and this property is on the main road between 9W and the thruway, so expect a lot of truck traffic. 

@Brian Rosher The last report came out January 20, 2017. I would expect an updated report by the end of the month. 

http://www.albanyny.gov/Libraries/Buildings_Regula...

@Blake B. - the idea if "less is more" is beyond the time spent on the preparation; though my following response is not to downplay that aspect - your time is certainly valuable. If you have too much information, you run three risks: 

1) Information overload, which could lead to an indecisive investor

2) Incoherent/inefficient presentation of pertinent details

and 

3) You open yourself up to a lot of questions which, depending on your answers, could break the potential deal. Especially if you aren't prepared to discuss the details of these questions. 

@Blake B. It depends on whether you will be presenting this deal in person or not. If you are presenting the deal in person, a 1-slide PowerPoint is all that is needed. A few (small) photos of the property, overview of the financials, a few highlights/bullet points. You want to talk through the details, not highlight them. 

If you are not presenting the deal in person, a single page .pdf is all that is necessary, but include some detail behind the overview - the document will need to speak for itself. 

It is important to understand your target audience - if they are analytical, then text and numbers would be best. If they aren't, then you will want more visual aids. And as with your commercial banking experience, you should create a template. It will help streamline the evaluation process with your partners/investors since they will be familiar with your format.

The grant could get up to $50K if it’s an abandoned/vacant building. There are plenty of those in the Arbor Hill area. 

Coming from a Business Development & Marketing background, layout is incredibly important. Clean and clear - I don't want to have to hunt for the important information.

Hit the road. 

Seriously. Driving for dollars is highly regarded by some folks around here. Read this blog post.

https://www.biggerpockets.com/renewsblog/2013/05/03/driving-for-dollars-bible-part-1/

I would think it would be dependent upon which REI strategy you are aiming for. I am looking at multi-family buy and hold, with some level of rehab required. For this, I would think I would want to know the following:

- Address (in addition, maybe the neighborhood/town/area) plus owner information

- Number of units (bed/bath count per unit)

- Expected rent for each (or total)

- Max purchase price to make the numbers work --> may need fields to add expected expenses, or make it one cumulative field

- Type of lead (MLS listing, distressed, foreclosure, wholesaler, etc)

- Stage of the deal (i.e. I would want to know if I've had a response from the owner, if we've had a preliminary number exchange, if I've sent 8 mailings, etc)

- If its an MLS listing, I'd want a link to the listing

- Date of most recent contact, and type of contact (mailing, phonecall, email, etc)

- If I identified it while driving for leads, I'd want to be able to upload photos against the lead