All Forum Posts by: Kapil Patel

Can we not take the course and just invest in syndication deals with Michael as a passive investor?

@Derek Diamond - Thank you. I did some digging around and got the same answer. I appreciate your response.

@J Scott - I live in Jersey City downtown right across New York City. How will JC and NY market be impacted on the next reset? Is it true last recession in 2008 the impact was less compared to other cities in US. I heard numbers like 30% in NY area. Would this be still the case? In other words do big cities like NY get more impacted or quieter cities? And which ones recover quicker?

Hi BP,

My condo is 600k. Say in a few years it goes up to 700k. How do I access the 100k to pay down my mortgage?

Thanks,

KP

Hi BP Community,

Can anyone please recommend a handyman or contractor located in NJ/NY area? I need to patch up a hole in the wall behind kitchen cabinets? Perhaps if they can get to it via bottom by removing baseboards. I can see the hole if I remove the baseboard with a flashlight.

Thanks,

KP

Hi BP Community,

Can anyone please recommend a handyman or contractor located in NJ/NY area? I need to patch up a hole in the wall behind kitchen cabinets? Perhaps if they can get to it via bottom by removing baseboards. I can see the hole if I remove the baseboard with a flashlight.

Thanks,

KP

Hello BiggerPockets Fam,

I came across this article today where the current mayor of Jersey City Mr Fulop, NJ posted on his Instagram. From what I gather he is trying to control the market growth and enforce rent control. I am not sure how it impacts investors???

The article Mayor Steven Fulop posted:

https://www.nytimes.com/2018/10/26/realestate/jersey-city-grows-up.html

I am worried that it will impact my goal where I plan to flip my current condo to a rental. If there is rent control and growth control, that would impact me.

If anyone who has experience in this market or just a general outlook on this type of decision, I'd like to hear from you on how the potential future outlook of the market can be impacted from a investor standpoint.

Any help would be much appreciated thank you,

Kapil

Thanks all for the responses.

Hello everyone, 

I am interested in knowing about creative financing or even zero money down for rental properties.

I would also like recommendations on courses I can take specifically geared towards creative financing.

Thank you,

Kapil

@Eugene Moore thank you for explaining. What if I live in it for 4-5 years and turn it into rental for long term like another 5-10 years??? Is it still not worth it? What percentage will I get hit with?