All Forum Posts by: Jeffrey Stasz

I think if you want to do old/historic homes you need to be in areas where the majority of homes fit this category. Seems to be a lot comments from folks in California where the housing stock is much newer. Not trying to be offensive, but it seems like a lot of folks are making comments on the historic market from markets with almost no historic houses. 

For example, if I ever used Vinyl on project it would sit there like a big fat log. All of the projects around me are either going to hardi board or back to wood. It's one of the first things our buyers are looking for and if you are out of step with the neighborhood the house is going to look like dirt. 

If you look in markets like Brooklyn, NY or Cambridge, MA you can certainly make a living doing this kind of work. But be prepared the capital investment is on a totally different scale.

Acquisition prices will be around the million dollar mark. Renovation costs will be in the 500k to 1MM range and ARV is going to be north of 2.5 mm to make this worth your time.

Seems a lot of people in the flip business are more focused on the median home in their area (which is smart). So if you want to do historic stuff you need to be in a place where the median home will support what you want to do. 

This is really driven by population and job growth. Where I am (NYC) I am starting to see a return of high deltas in tertiary markets along the Hudson River. These areas are well serviced by trains and are getting a big boost from a steadily growing NYC. 

I'd check out SquareSpace. I work in the field and they have very approachable and well designed sites. 

Also, they are ready to handle an ecommerce back-end. So people could actually apply and pay rent through your website. All very easy. And there are plenty of freelance folks that can do the initial build out. 

Freelancer is going to run about 150/hr (I live in NYC) 

Probably about 3.5 - 5 hours worth of work depending on how much content you need and how ready you are for the designer. 

I'll be there. Looking forward to meeting everyone 

Hey. 

I would recommend Moo.com. Vistaprint quality and color control are terrible. 

For color's I would recommend going to kuler.com It's an adobe service and you can search by location to find color schemes for your area. 

For design checkout fiver.com or behance. You can get a graphic designer to do a business card for you really really inexpensively and you can tell the difference. 

Hope that helps 

I've dealt with a LOT of dogs in my life (like well over 300) as an owner, trainer and bird hunter. And in my experience big dogs are way less headache than little dogs. They bark less, they destroy fewer things and are generally easier all around (with the exception of rescue pitbulls). 

Here is what I would recommend: Ask them to enroll in a reputable dog obedience class. The kind where the owners and dog go together. Most new dog owners have no idea how to train a puppy and the information available online is all over the map, and frankly, its not the dog that needs training, it's the new owners that need help. Taking a class with a legit trainer will teach them a lot about how to handle a dog, how to keep it from destroying your house and make life easier on everyone overall. (sorry about the bold I can't turn it off) 

Classes last anywhere from 6 - 12 weeks and the AKC maintains a list of classes and certified trainers on their website. In my opinion, that would be a better use of funds then asking for an extra $30/month. It will mean you have a well trained animal, happy tenants and a little piece of mind (no one robs houses with dogs).  

Hope that helps. And I am obviously pro-dog. 

Hi everyone. 

Would like to get some perspective from folks in the flipping business. I live in a very competitive area (Brooklyn) and looking to start my business in two additionally competitive areas (Hudson Valley and 2 zip codes in DC). I can't afford to start out in Brooklyn but I can start in DC and the HV and familiar with the markets. 

Here is the thing: I work a competitive job (around 70hrs/wk) and that does not leave a lot of extra time to chase deals, network or put my team together. I'm wondering what people's perspectives are on trying to do the my first couple deals  part time vs. just going all in and going full time. 

I have a construction background and was planning on being very hands on with my renovation. 

My question: In these super competitive and expensive markets is it possible to be a part timer or do you really need to go full time to be competitive? 

Hi Martin. 

I am in Brooklyn and pretty active. Nothing you described sounds out of the ordinary. The only thing, that is surprising is the numbers you're throwing around. I have not seen anything in Kings County with an upset price less than 300k in years so not sure which auctions you are going to. 

Another thing to consider: much of NYC real estate is used by foreign investors as a way to hide assets. With the view they are going to have a different cost/benefit analysis. 

Finally, Cash is going to do it. People are bidding in the million plus range in all cash. 

If you want, feel free to reach out directly. I know the market well and could offer some advice on areas to look for. 

Sounds like it really depends on the situation. I am not a landlord yet but can say that depending on the location it could be helpful to allow pets for a few reasons. 

1: larger market of owners 

2: Typical pet owner (dogs) have higher incomes 

3: They are often willing to be a little more self reliant because finding a new place is a pain. 

One thing I do not understand at all: why the preference for small dogs? I've been around ALOT of dogs and can say that it seems like small dogs are almost always messier and louder. Your typical big dog is going to bark less and pee on the furniture less but that's more personal observation than fact. 

I like the idea of meeting and evaluating the dog with a trainer. If you find someone with a well behaved dog that is going to say a lot about them as a tenant. Dog training, even basic obedience, takes a lot of discipline and consistency on the part of the owner. So if someone shows up with a well mannered dog chances are those skills and habits carryover into other parts of their life, like paying rent on time and not trashing an apartment.