All Forum Posts by: Meshael Eady

Hello everyone,

I analyze a property a day (sometimes two) and it has made all the difference in my comfortability level. I analyze properties from the MLS and it usually says how much the current tenants are paying to rent (always way below market value). Then i analyze the same property using market value rents because i expect to add value and raise rent after my purchase . Which one should i use to determine what I can pay for the property, Market value rents or the below market value rent given on the MLS? I think the MLS rent makes more sense but i want to be sure i am doing things the correct way.

@Ronald Starusnak thanks I’ll definitely check it out. 

@Adam Nye The only research I’ve done was going on Redfin and searching Albany zip codes until i found the ones with the most Multifamily properties on the market. I agree 12208 properties are higher in cost but the numbers still work for me. I run the numbers on 1 Multifamily property everyday. I will take you up on that offer and will be reaching out to you soon with questions. Thanks for your help. 

Hello,

I decided i will invest in Albany NY in 2019. I zeroed in on three zip codes 12202, 12206 and 12208. Where can i go (online) to find out more about these areas. I would love to chat with anyone who is from the area about things that only someone with boots on the ground would know like rents for 1,2,3 and 4 bedroom units. Also what areas should i stay away from? What towns are all the universities in? Why are all of the buildings so old? Last but not least, i don't know what i don't know so please fill me in on that too.

Hi. I would like to get this under contract immediately. 

You're correct, i will definitely reach out to some folks here in the local market to help me with these missing pieces to this puzzle. When i asked what she wanted of course she only mentioned what she was offered and what the neighbors got and I did not pry (lesson learned). I definitely need a partner on this one. I would love a finders or assignments fee but that will only be icing on the cake. I need the experience and knowledge that comes with closing a deal. Assigning the note to a note investor keeps her in place (for now) so i will research this one 1st. Thank you @Michael Guzik that was very helpful. 

Hi,

    I had a talk with a very nice lady who owes between 300-500k (and counting) on her East Flatbush single family residence. She also owes the sanitation and water companies at least 20k (these were the ballpark figures she gave). Lucky for her she's already got an offer of 1.5 million dollars  However she does not want to sell her home. She says it's because she has a big family and knows she will have to downsize to a smaller house for a lot more money. I believe it's way more personal, possibly there is some sentimental attachment.

  My question is what are her options? I believe there is only one and that is to sell ... FAST! But i obviously have a biased opinion. I wanted to get the options of people who have nothing to gain and know much more than I do. What do you guys think? If selling is truly her one and only option, how do i tell her? Thats the most terrifying part because i was referred to her as someone who could help. YIKES!

however I’m no expert. In fact i know nothing. 

This reminds me of the movie “The founder” ... I think you can charge them rent.