All Forum Posts by: Kay Ferdous

I'm currently analyzing a deal for a 8 unit building. Current owner doesn't have any property manager in place and also doesn't have records of vacancies. I have no intention of managing the property myself. What rate would you guys put in for these two categories. Property is in New Jersey. Im thinking 10% for both. But wanted second opinion

I would be interested as well.. Looking for multi family homes that are distressed.thx

I live in Long Island, NY area and I was wondering how difficult is to buy duplex single family homes that needs rehab or is foreclosed and convert them to multi family. I.e. Add a second entry to second floor add kitchen, bath etc. By difficult I mean do you get pushback from banks/city/village. Is there a big delay in getting the proper paperwork from the time you buy to the time you actually can start work or maybe some towns simply don't allow it ? Would love to here your experiences . Thanks

Can you please send me the info as well. Thx

Hi BP Community, 

My name is Kay, I currently live Long Island New York. I’m a System Engineer by trait but I’ve always been very interested in RE investment. I’ve owned couple properties in the last decade, mostly to live in it and sell it when my living situation changes. I.e marriage, kids..etc. At the moment I’m fortunate enough own a house that’s big enough for me to do room share and I’m in a process of converting it to a multi-Family.

I'm hoping this will be the kick-off point of my REI career. I'm mostly interested in BRRRR/Flips in Long Island. I've made some relationship with few brokers in my area that specializes in Foreclosures /short sale/rehab properties and I've made some bids but I'm quickly finding out how competitive the market is. Would love to find out if there are any meet up groups in Long Island that I can join and learn from like-minded professionals. Looking forward to hearing from you all. Thanks.