All Forum Posts by: Kevin Rodriguez

We have a Section 8 tenant who's portion of the rent has bounced. She has gotten very defensive, and claims that she hasn't been notified by her bank. At this point, I'm trying to determine what the best course of action is. We are considering applying our $50 late fee at the moment, and are unsure if we should hand her a Pay or Quit notice.

I'm not sure if/how the Section 8 tenancy affects any of this. Any advice would be greatly appreciated.

I'm interested in buy and hold real estate. I just acquired my first multi family with an FHA loan, and am now back into hardcore savings mode. I project that I'll be able to invest in another multi family in another 2 to 2.5 years.

Does anyone have any suggestions as to some smaller investments I can make in that time period? Doesn't necessarily have to be real estate related. I just hate the idea of having money just laying around in a savings account. Any suggestions would be much appreciated.

I am looking at purchasing a 2 family property, and was wondering if there was a way to avoid mortgage insurance if I put 10% down. I am specifically looking to purchase a property in the 500 to 600k price range in Queens, NY.

Originally posted by @Eric Hrlbock:

I grew up in long lsland and moved to poughkeepsie recently. I have 7 rentals up here and they all cash flow after all expenses. I am not in war zones and a blue collar areas w a little research for 100-150 or a multifamily for a couple hundred thousand.  These are not Mls properties if Mls expect a little higher. My father in law just sold his store in Astoria and part of his 1031 was a five unit w 2 garages. For 499k up here. Nice area  the one unit was the old owners and it was 2400 sq ft.   Best of luck feel free to hit me up w questions

Thank you for your response, Eric. This is helpful. It's more or less the price range I was looking for. If you don't mind me asking...what type of investing strategy do you use for your properties? Buy & hold? BRRRR?

I am new, and have been focusing heavily on educating myself. In the near future (within the next 6 months), I would like to get serious about purchasing my first rental property. 

I would like to get a SFH for under $300,000 in the NY/NJ area. The problem that I'm having is narrowing down on a few neighborhoods. I live in Queens, and have found that, my neighborhood, and many neighborhoods around me are very expensive for beginning investors. Some other neighborhoods are heavily developed and SFH's are scarce.

Can anyone suggest any neighborhoods in the NY/NJ area (NYC, Westchester, LI, Northern NJ, etc.) that might be worth looking into for a beginning investor. Any suggestions or advice would be greatly appreciated. Thank you!