All Forum Posts by: Kyle M Nedd

I know the Cap rate is a significant factor in determine the the true value of an apartment unit.  For example the laundry unit or pool or rents in an apartment when buying becomes a determination the the true cap rate and value at purchase…. So how bout small  Multi family ( duplex’s or triplexs)  does anyone factor in the rental value of unit to determine a price to purchase or sell.. for example  let’s say you inherit tenants with an out dated at apartment  30% below market rent value.. are you considering that factor into the value of the property when negotiating a price point with the seller…we know realtors would tell you can raise the rent in the future… but for me am thinking the actuals now are below value and I will obtain a loss  in the beginning of the purchase…anyone has experience similar situation.. honored to hear your input 

Ryan said some great points… the market are  other  investors doing the same your doing.. meet up groups and investor friendly agent who also invests in to real estate.. And there the classic way which is driving for dollars and creating a mailing/contact list . On my way home from work I will use apps like deal machine and prop stream to mark down houses I think may be a motivated seller.. analyze the home when get home, because every house has their public records available and see if the seller of free and clear or may be motivated .. that’s when you become creative … I know the inventory is low and am looking this route to  acquire my first as well…it exciting for me 

Hi Brian,

It’s seems you know your backyard. And I myself have been looking… alone upper Union, Scotia and Rotterdam. What’s you opinion on the taxes in these areas… after evaluating one deal at upper union, near Central Park, the taxes sort eat most of the cash flow. Maximum $ 100 cash flow… one house I analyzed had a 7500 tax bill yearly …

Hi Brian, 

It’s seems you know your backyard. And I myself have been looking… alone upper Union, Scotia and Rotterdam. What’s you opinion on the taxes  in these areas… after evaluating one deal at upper union, near Central Park, the taxes sort eat most of the cash flow. Maximum $ 100 cash flow… one house I analyzed had a 7500 tax bill yearly … 

so I talked to my brother on his first deal and the underwriter said he thinks he should lock in his rate at 6%. What a gut punch of how the rates have come. Now comes the question for me as a new investor. Should I just over leverage myself with a FHA and have a higher mortgage and pmi or just save more capital to put down a better percentage of 20% down payment for a better rate… at the same time am looking for a property that not just turn key, but to fix up and learn… as they you should but everything in investing, because you need reserves just in case issues appear… for anyone there what do think is the best strategy for a new investor in locking their first deal in a competitive and higher rate market

just readings one articles with tenants and tenant laws in NYS. In one of the Reddit post in a two family home , there is tenant with a 2 year old who who off and on jumps around and the neighbour downstairs is constantly complaining .. the family upstairs has been respectful and has place foam mats to deviate the noise , but it’s not enough for the other tenant. at this point it’s become an issue for landlord. I know every state is different , but can the landlord file notice of eviction because of the noise in NYS. I certainly thinks it’s unfair since I read the tenants with the 2 year has been more than 3 years .. with the new tenant being there for less than 6 months.. and have kids , you can’t stop a 2 year from being a kid…has any experience this in upstate or New York State area… is this even legal In NYS

just readings one articles with tenants and tenant laws in NYS. In one of the Reddit post  in  a two family home , there is tenant with a 2 year old who who off and on jumps around and the neighbour downstairs is constantly complaining .. the family upstairs has been respectful and has place foam mats to deviate the noise , but it’s not enough for the other tenant.  at this point it’s become an issue for landlord. I know every state is different , but can the landlord  file notice of eviction because of the noise in NYS. I certainly thinks it’s unfair since I read the tenants  with the 2 year has been more than 3 years .. with the new tenant being there for less than 6 months.. and have kids , you can’t stop a 2 year from being a kid…has any experience this in upstate or New York State area… is this even legal In NYS

So I wanted to pose a question to my fellow New Yorkers.. I’ve heard being under contract may not matter when there was a a combination of greed and cash buyers . One the seller can contact it’s lawyer to kill to original contract it’s made, to take up a higher offer from a cash buyer or higher bidder… it’s competition and survival of fittest in the market. Certainly sad  to the original person who made that contract with the seller .. I wanted to ask is this is still the case .. has the ny state law change to avoid a scenario like this in this competitive market. Where a lawyer can kill a contract and the seller signs up for a new one 

Hi all, 

Just wanted to verify the meet up is still on tomorrow or a new date and time has changed...

Thank You 

Kyle