All Forum Posts by: Michael Fyvie

Hello All!

Does anybody know of any good online resources to see historical Real Estate Appreciation Data? I am trying to learn how to determine a ballpark figure for how much my properties will appreciate over 10 or 20 years. Any suggestions on resources would be greatly appreciated! Thanks!

@Steven Luttman thank you for your advice! I actually own a multi family in center square, Albany, but was unaware of the wind tower factory plans, that’s great news for Albany! I plan on keeping what I have but I’m apprehensive about paying top dollar in the current market. Do you think we’ll experience a big decrease in values in the next few years? I know it’s very hard to predict. 

Hello All,

I am considering buying a long term rental property in the Albany or Schenectady areas and I am wondering if any agents/brokers/investors have any thoughts or insights to share in regard to where the market is heading over the course of the next 5, 10 or 20 years? Seems New York State as a whole is losing population but I think the capital region has been generally stable (I think?). Prices and sales have been up dramatically in the last year, is it a bad idea to buy now or is there more upside to be seen? I am weighing all of this against possibly relocating to the Tampa Area, down the road some years (where the market is on fire right now). Would it be better to wait and invest in that bigger market? Any thoughts or insights that you could share would be greatly appreciated!

Thank you sir! That’s a relief. I will also ask my accountant ASAP. @Nathan Gesner

Does anyone know if a landlord who hires a property management company is supposed to pay Employer taxes for the Property management services? 

Thanks for the feedback everyone! I will check out the software suggestions. I really am looking for a better way to track everything since I mostly utilize spreadsheets. Something that will assist in tracking performance. Something to help guide me while considering if my property is actually performing well. 

I definitely struggled with the decision to hire a PM. I’ve successfully run my 5 units by myself for 15 years and I’m very proud of the progress I’ve made. I enjoyed most of it! However, my family and I may be relocating in the next few years and I want to keep the properties if we do move. I figured it would be better to try them while I’m still around in case it doesn’t go well. I also figured getting them off my plate would allow more time to focus on getting another property. I’m also one of those guys stuck between my very demanding 9-5 and making the jump to full time investor. Now I’m rethinking the PM lol 😆 

I am in the process of hiring my first property manager for my two longtime rental properties and I’m very excited to take this next step and start building a larger portfolio. My question is, should I be looking into an online real estate investment management software? Or is that not necessary because I will soon have management? Thanks,

I am refinancing a two family rental property I’ve owned for some time. My first refi ever. My question is will I be taxed on the cash I am taking out of the equity? Any curveballs I should be expecting as far as taxes or hidden expenses? Any advice or insight would be greatly appreciated! 

I have a basic understanding how brrrr works, my question to everyone is are the costs associated with refinancing really worth it if the amount of equity is not significant? How do you know when it is better to just leave the original investment in place? In the example above, by George Cox, they would be pulling out 14K BEFORE closing costs. Closing costs range anywhere from 5-10K (at least in NY on average priced properties in my area in NY State). Thanks in advance.