Hi There,
I have been on BP for quite sometime now and always come in and out of conversations. I have not been on here in a while though...Hello everyone, I love where this conversation is going and I thought I would chime in if that is ok? (I am 6 days late but doesn't hurt to try right?)
Hi Scott, I see you are from Brooklyn.....
I am a NYC real estate broker and I deal with a lot of buys and holds. Assuming that I would be your real estate broker (of course once we build some type of trust and a business relationship), I even manage small buildings, condos or co-ops, etc. Almost 80% of the tenant management is done online/ via email and this service I provide free of charge to you.
Of course the upside for me is that I get to buy/sell/rent the property you decide to purchase - turnkey - when the existing tenant(s) plans to move out and usually before they move out (2-3 months before I will send out a renewal notice), I will find you another tenant for you. yaay! If there are problems with appliances and fixes I act as the liaison for getting the work done, so you don't have to worry about it (all you have to worry about is paying the bill). That is what I do best.
This will of course cost you, when you have to make repairs, unless the tenant takes the $ out of their monthly rent. (usually this agreement between both you and tenant is done before the work is done). When tenants move out I perform walk through's to make sure that the apartment is in good order, then report back to you. usually whatever is not in working order is paid for through the tenants security payment, etc....and a lot of other factors that I don't want to get into here (too much to write) I handle it for you so you can take your vacations.
Again, most of the properties I manage are small. I know a lot about real estate investing because this is an area that I am into myself. (buy and hold investing). I know a lot about the sales side, cap rates, ROI, etc.
You can always email me if you have any questions about real estate in New York City. Don't be afraid the purchase in your own back yard, there are a lot of opportunities here!
Check me out online, below are closed transactions that I have handled. Mostly in Gramercy Park or the Chelsea area in NYC. 1 - 3 bedroom condos that have been sold and rented out to tenants, etc. or properties that were bought and then flipped.
http://www.citihabitats.com/manhattan-real-estate-...
Below is a list of existing inventory for the Morgan Manhattan Team.
http://www.citihabitats.com/manhattan-real-estate-...
