All Forum Posts by: Matthew Rodriguez

@Matthew DeVercelly I'm assuming that is per each two bedroom unit?

Thanks for sharing, appreciate your help.

Hello everyone,

I am having a problem reviewing local triplex units in lower Westchester (White Plains / New Rochelle / Port Chester / etc.). more specifically, trying to figure out an estimate for heat / oil expenses yearly. Does anyone have a general range / or know were I could find this.

I am seeing numbers range from $3,000 to $20,000 to fill an oil tank for a triplex. 

Thanks!

Hi everyone,

When vetting possible new tenants, you of course always want to make sure that theree are no signs of prior evictions. I have heard mixed information as to where to find that info.

Does this show up when running the credit report on sites like Experian or TransUnion or do you have to call the tents prior landlords and do your own investigation?

Thanks!

@Aneury Evangelista thanks for the help. I have heard ranges vary anywhere from 8%-20% depending on the local market.

I have also considered factoring a 0% vacancy into the equation and instead only accounting each unit to be able to collect rent for 10 of the 12 month a year. This allows be 2 months of vacancy for each unit already built in. Any feedback on this method?

Thanks!

Hi everyone,

Apologies if I may have posted this in the wrong section of the forum. I am trying to figure out a solid base percentage to account for in unit vacancies in the New Rochelle / lower Westchester market.

Any and all feedback is greatly appreciated!

Hi everybody-

Im attempting to figure out a rough number to incorporate for expenditures. Specifically heat and water for a triplex in lower Westchester, NY.

Additionally, as I had mentioned before, my idea behind purchasing a duplex rather than a triplex is that my major goal was to constantly have 2 of the 3 units always rented and allow the loss of one unit to count for my annual vacancy rate. That way if all three units are rented out at the same time, I would be able to completely collect from the third unit during the given time frame, almost like an added bonus gift. My logic clearly needs more detailed work but just curious to see what you all think. 

Any tips are greatly appreciated!

Thanks,

Matt

I appreciate everyones help!

Hello Everyone,

I have been doing my research on the process behind purchasing multi family properties around local markets. However, I am trying to formulate a ROI plan and am having a problem finding a general safe number that I could depend on for the monthly asking price for each unit in the house. I look on sites like realtor.com and Truillia however there is such a wide range of prices that its hard to land on one safe range.

Any thoughts would be greatly appreciated!

Matt

@Brian Bassano I appreciate your reply, I had noticed the BP has a few different calculators but haven't really gone over them yet. 

I have decided to stick between 3-5 units mostly because if I were to invest in a property that has over six units, I would have work with rent control laws. Meanwhile, investing in two family properties will mean a slower ROI (assuming one of the two units will remain vacant at times of transition, etc.) I would love to hear your opinions on what you think about the local market, etc.

Thanks again!

Matt