All Forum Posts by: David Lant

@David Lant😂

@Peter M. Don't take up comedy when your real estate occupation fails.

I've been flipping houses for a few years now and I've done around 20 flips which in turn have allowed me to buy rental property's.

But between me burning out on flipping and the low inventory and the massive numbers of flippers and the low returns, I'm not seeing a solid yearly salary I can pull in from it.

I am planning to buy some short term rental properties but any money pulled in from them will not be touched for around 8 years.

So I'm trying to figure my next step in my real estate career

I need to make money to keep me afloat over this period.

And please don't read this as I'm not grateful for what I have. I've worked super hard to get to this position and I count my blessing daily. I just really want to keep the momentum going.

Thanks

I've been flipping houses for a few years now and I've done around 20 flips which in turn have allowed me to buy rental property's.

But between me burning out on flipping and the low inventory and the massive numbers of flippers and the low returns, I'm not seeing a solid yearly salary I can pull in from it.

I am planning to buy some short term rental properties but any money pulled in from them will not be touched for around 8 years.

So I'm trying to figure my next step in my real estate career

I need to make money to keep me afloat over this period.

And please don't read this as I'm not grateful for what I have. I've worked super hard to get to this position and I count my blessing daily. I just really want to keep the momentum going.

Thanks

Anyone had regrets from doing a 1031 tax exchange?. I'm looking for some real-life experiences from people that have had second thoughts and the reasons why.    

I have some seasoned clients that purchase homes in the Hudson Valley as vacation rental properties. They've recently bought from us in Beacon and have had great success. There now exploring the idea of doing the same in Newburgh. 

Does anybody know the city's stance in regards to the vacation rental property market? Is there even a market for it yet?

Wondering what people's experiences have been in regards to renting to section 8 and working section 8 tenants?  How was the process of dealing with the government? Is there any special rules and regulations that differ from a regular rental?

I would love to hear people's experiences. 

@Aaron Latos Thanks for the info. I'm finishing off several projects in Beacon and have the capital to invest in the next few months. The explosion and resulting higher prices of Beacon has made the surrounding areas a little bit more desirable for many folks looking to move up from the city.

I am that David Lant. I disappeared from the site for a while and was shocked to see how many people had replied to my question.  

What are the rental trends people are seeing in Newburgh? Are professionals, couples, students or ex Beacon folk heading in?

Also, what are the rents people are seeing? I'm currently getting $1600 for a large 2 bedroom, $1100 for a small 2 bedroom and $650 for a small studio in Beacon.