All Forum Posts by: Account Closed

I’m interested in buying a house in Woodstock NY to use as a vacation home and in the long run for retirement. I would want to rent it out for a short term vacation rental, Airbnb, Vrbo etc. Any other Woodstock investors here who could tell me what the market and demand is like? If I could cover my mortgage and tax that would be fantastic.

Thanks

Can anyone recommend some great real estate investing books to read for a new investor? I have read Long distance real estate investing by David Greene and Rental Property Investing by Brandon Turner. Both great but want to read as much as possible before getting started. Thanks

@Kathrine Bowers Thanks to everyone for your responses. So just to give a little more info my goal would be to bring in 3-4K per month net cash after all expenses. Is this possible? That’s why I was thinking of selling rather than a refi as I really would rather some extra income. If I was to sell I know I would need to buy the equivalent of $900k in property to avoid taxes this would also Involve gettIng a $300k loan. (Or I could do a huge cash out refI but not sure If I would bring In much extra Income this way?) I am very new to this so not sure if these numbers make sense but from reading about the 1% rule I feel like I’m not making my investment work for me right now, although I do love the safety of having $$ in Brooklyn. I’m just in a situation right now where I need to bring in some extra income.

Hi..Yes 600k in equity and I bring in $300 net cash flow and pay down $1350 on mortgage. I was thinking of a 1031 exchange and buying  properties outside NY to generate a better cash flow.  Would love suggestions on other areas to invest. Thanks.

Hello, I am a new member and would like to ask a question. 

I currently have an investment property in Brooklyn worth 900k with a 300k loan. Rent is $3100 and after expenses I bring in $300 per month although I do pay down $1350 on my mortgage. I’m thinking of selling and buying equivalent value of properties out of NY to generate more cash flow. I should be able to do this right?  I feel like in a 900k property I’m not generating much cash although I have certainly done well with equity build up the last few years.  Any advice on areas..Or if this makes sense ?