All Forum Posts by: Lawrence Tsui
Lawrence Tsui has started 1 posts and replied 5 times.
Post: Boyfriend Squatter alert
- Posts 5
- Votes 5
@Adam Kruse
This is literally not even something you should be worried about or wasting time on lol. Just leave alone.
Sorry let me clarify. I meant my hoa fees are under $400 and property taxes are under $600.
jason, exactly my thoughts and my strategy here. It Is to buy a and b class properties and just get easy tenants to fill them with barely any time needed to manage them. Although, I do not buy all cash.
This is currently how things are operating for me as of right now. The idea is to build equity and wealth with as little headaches as possible. My current places are renting out for $4300 and $7500. The $4300 I’m breaking even and the $7500 I’m actually able to cash flow a little bit. Both properties 25 percent down payment on them, condominiums.(both have under $400 in hoa fees and property taxes a month)
please correct me if I’m wrong but here are my thoughts after some research and help from you on this forum here. If you are cash flowing really well, chances are you are in a place where appreciation might not be so great. If you are appreciating really well, chances are you are in a place that doesn’t cash flow well. Then there’s always property that you can purchase that do a little bit of both.
Damon, thank you so much for your tips and things to keep in mind. Much appreciated.
Wow this place is amazing. Thank you all for your replies and I have a much better grasp on the real estate market in nyc.
for some context, I purchased in the Williamsburg and clinton hill area upwards of $1,000,000 each.
I realized a big debate in the real estate community is cash flow vs appreciation. Ideally you would want both, but it is for sure not possible with luxury condos that cash flow in the nyc area upwards of $1,000,000. I’m at about break even for both of my properties ( which some say is already really good). I hope in time, as rents increase and the value of the property increase, I hope to cash flow on the property.
Hi all,
Looking for some input on how someone can cash flow with property in NYC. I’ve been a stock investor for the past 15 years and recently took out a large amount of cash and purchased two luxury condos in the brooklyn area to diversify. Thanks to everyone in advance!