All Forum Posts by: Kevin Dee

For an investor who might not be able to afford commercial property in my own area of New York, what are some good resources for finding commercial property in other states? I have looked at Loopnet and Auction.com so far, but am open to networking with people in various growing markets.

Thanks Jonathan, does this also cover the owner if there is a slip and fall accident?

I wanted to ask Bigger Pockets if as a condo apartment owner / landlord... needs to purchase landlord insurance or homeowners insurance. Landlord pays common charges to the building which has some coverage already.

10% ROI after you pay maintenance and R.E. taxes Is tough. I'm in the studio/1 BR long term buy and hold condo market in NYC and my best apt is getting 3.7%.

In nyc you will never have a hard time renting out for your price as long as the unit is in very good shape. Would you want to live there? The cash flow is good. However wealth for some people is real estate. In 15 years if I want to retire, I can manage a few apartments with positive cash flow and not have to worry about wearing a suit to work.

Also in 20 years, what will something worth several hundred thousand be worth if I ever sell? History in the NYC market says a lot more than what was paid for it initially.

I'm certainly not an expert in Long Island real estate yet, but I've heard that getting your license is beneficial. However, not 100% necessary in gaining success. For instance, some people use the license to gain access to MLS listings, but some people would rather hire a broker to do deals for them. I am also in the same dilemma where I might want to get my license someday too. If you want to get into property management for other people, a license is a must.

I would like to get into flipping and wholesaling as well. And before doing a lot of reading and Bigger Pockets podcast listening (great stuff) I had no idea what wholesaling is either. But from my view, it's finding a real estate deal either via distressed sale, auction, foreclosure, etc. so that you can sell the property quickly. Flippers love to wholesale because they don't have to do any construction. The downfall is that you don't make as much per sale. But the stress involved seems like much less too.

I'm interested in real estate groups in Nassau County to build my network as well!