All Forum Posts by: Julie Greene

Market fee in Buffalo NY on a 10 year lease would be 5% across the entire term.

Hi there @Zachary Southard and welcome to Bigger Pockets!!  This is definitely a great place for you to come to learn about note investing!!  If you do a search on "notes" up in the search box on the site, you will likely find a number of results of threads that have been started on the topic.  I recommend looking through them (especially the ones with lots of replies) and reading!!  Or here is a link to an area of the forum where you'll likely find great threads to read:  https://www.biggerpockets.com/forums/70-tax-liens-...

Also, don't be afraid to ask questions once you've done a little research and reading.  There are a number of extremely knowledgeable people on this site that are always happy to share what they know.  I am in the process of learning about notes as well - I'm excited about a different opportunity to earn passive income!

Best of luck to you!!

Hi @Matthew Marini - I have heard great things about Keller Williams  - especially their training for salespeople!  I didn't realize they were opening a commercial division here. I would definitely be interested in hearing more.  I am just wondering where the office is - I live in the city (Delaware Park area)- wonder how far in the suburbs it is?!?  Not that it would stop me from learning more!  Keep me posted and thanks so much!

Hi all, can anyone in the Buffalo NY area recommend a reasonably-priced company to refinish hardwood floors?!  The floors would also need some repair in a few spots.  It's a relatively small job in North Buffalo. We definitely would like to do the 1st floor 1bedroom unit (650 sq ft) and might consider doing a 2nd flr 1 bdrm unit too (450 sq ft) if price is reasonable.  Thanks for any help!!

Welcome fellow Buffalonian!!  Good for you on getting back to doing what you enjoy!  My husband and I were on a similar but different path...managing just one double that we lived in starting 2001, then moved out of in 2007 but held onto. We always planned to acquire more but life and other projects ( carriage house renovation - another rental though!) got in the way...we sold the double when approached in 2012... We finally really got back into it in 2015 when we FINALLY closed on a 4unit in N Buffalo.  I also took the RE Salesperson class (Dec) and passed the NYS exam, but not currently hooked up with a brokerage yet.  I'm really interested in the commercial side so have a few informational interviews set up for next week.  So e citing that you and your wife are back to doing what you love!  Wishing you great success, and hopefully our paths will cross someday soon!!

@Emmy K. we also use Quickbooks Pro and set up our properties as Customers, and track each unit by "class" and "subclass".  I used Jonathan Wolters LandlordAccounting book to help me get everything started 8 years ago, but I just read a post on here about another BP user not being able to access his site anymore.  Anyway, it has served our purposes well.  However, we are a much smaller operation than you (one 4-unit). I have had no need to review other systems so I have no comparison info for you.  Good luck (and keep me posted with your choice as I would be curious for future!).

Welcome @Austin Spite!!!  There is a wealth of knowledge on BP - from the forums and blogs to the podcasts, etc.  I definitely recommend that you spend time doing a lot of reading and listening - plus there are thousands of knowledgeable investors that can help answer specific questions that you might have along your journey.  Best of luck to you!

@Christian Brodin

Definitely my biggest challenge in 2015 was networking, like

@Kathy Stewart.

We finally closed on a 4 unit in Buffalo NY in late summer after signing the contract in October '14 (at least we probably saved quite a bit of cash since we signed at the early part of the upswing). We inherited a great tenant who we still have, plus three vacant units.  We've only renovated one other apartment fully and secured a quality tenant with mucho screening.  We are 90% completed on apartment #3 and only about 50% complete on #4.  We're doing all the work ourselves (fortunately we're not carrying a mortgage).  I think it's time to get out to network to find some quality subcontractors that we can utilize that won't break the bank but that might enable us to get our last two units online much quicker. 

I'm not exactly sure what my problem is with this networking stuff - probably fear.  I seem to be holding this project close to the vest - maybe I'm embarrassed it's taking too long?!   Part of me just wants to complete this whole project by ourselves so that we have a good understanding of the start to finish process of getting everything online, but I'm not sure that this process holds as much value as I'm placing on it.  Additionally, we want to find other deals - but I don't seem to be in contact with the right people in order to hear about those deals before they come on the market (and I know others are).  I think the networking thing is way out of my comfort zone (not that I don't enjoy speaking with people - but I do not excel about talking about myself, what my husband and I are doing - and finding out how people can help me).  But clearly, I need to challenge myself here.  We need good subcontractors who won't break the bank.  We need to find a channel to hear about any deals.  We need to get out there in 2016.

I would GREATLY appreciate if you would share how you rose to your networking challenge @Kathy (and anyone else who is better at this networking thing than I am!).

Stumbled onto this thread due to my Buffalo, NY keyword.  @Sam Tato thanks for the Cap Ex spreadsheet - looks like it will be extremely helpful!   @Arthur Fuller II best of luck to you!

Ditto everyone else -- what a great deal, and thanks immensely for all the details.  Definitely helpful for us more green investors.