All Forum Posts by: Michelle Pepe

Hey all, I am a new investor with one fix/flip under my belt and hungry for more!!

I am looking for wholesalers and off-market deals in the Hudson Valley that need a lot of work (Westchester, Putnam and Dutchess counties). My partners are well capitalized and have a ton of experience in building/remodeling (20+ years) we just need more deals to keep it going.

We are looking for single-family homes in the $100k-$300k range that need some to a lot of work (we want to add a lot of value).

Happy to hear your thoughts and connect with wholesalers/owners or any like minds!

Hey everyone, thanks for your valuable input. I decided that buying a too-good-to-be-true property w/o a CofO is a bit advanced for me right now. 

As much as I want to add to my portfolio in the Bronx, as an investor, the 25% down is just a bit beyond my means. 

I started looking at the Hudson Valley and have found a few cash-flow-positive opportunities.  Hopefully will be closing on one soon.

Octavio

Hi all -- I'm new to real estate investing, but looking to get into SFR fix-and-flip. (I'm in NYC, and looking at properties in Hudson Valley and Upstate.) I'm hitting a big stumbling block, though, and wondering if anyone with experience can share some tips.

From everything I've studied, it boils down to three numbers: 1) Purchase Price, 2) Rehab Cost, 3) ARV. The formula being: Profit = ARV - Purchase Price - Rehab Cost.

The problem I have is getting reliable figures for 2 and 3 — Rehab Price and ARV.

For rehab price: getting a contractor to give me a ballpark estimate seems the natural approach, but that seems doable only for 1-2 properties. If I'm looking at a dozen properties, it's hard to ask a contractor to run around with me to them all.

For ARV: the right way seems to be to look at comps. But without experience, where do you get reliable numbers? I've asked my agent to run a CMA for me on some properties, but it seems impossible to know if it's apples-to-apples, given that I don't know if those are pre- or post-rehab. I can use the basic criteria (BRs/BAs, sqft, year built, etc), but one property might be a dump sold to an investor for a gut-job, and another might be a beautiful turnkey for an owner-occupant.

Anyone have any insight to share? Appreciate any and all thoughts.

Shulem

Hi guys,

I just finished this article and have been following this story for awhile. Considering there is no legal precedence on this sort of thing, it could have serious ramifications reaching far beyond New York. Just wanted to share this article and curious to hear your thoughts. Fair, unfair? Anyone here have any updates from the ground level? Is there more to the story than they have written here? Feel free to chime in....

https://www.theguardian.com/us...

Thanks,

Mack

Hi, my name is Manny I'm local to the Hudson Valley, NY area I've been out of the Military since last year and have been job hoping since. I'm very interest in investing. Listening to BP and on the market during my day job helps me want to achieve my financial goals, I have my first goal of finding a agent who would like to help brand new investors. My first plan would be to find a multi-family, and turn it into a mid-term rental for "sober living" companies and traveling companies, then expand to OOS investments. 

Hi all! I have a property in Middletown and I'm looking for a property manager. Anyone have any recommendations? I've had a hard time finding anything online. I don't live close by and I'm looking for full service. 

Hi all! Rookie investor here trying to explore new avenues of wealth generation for myself and my young family. A little about me, I work in NYC and live in Long island. I have a 401K that I max out and am close to paying off the mortgage on my primary residence.

During the pandemic the family and I took advantage of STR's primarily in Poconos PA and the Hudson valley in New York and grew to love the idea of owning and running a rental as well as having a place for the family to go every now and then to unwind. I've read in several places that oversaturation is occurring in most STR markets and that profitability isn't as great as it once was but those same sources also keep touting the merits of owning a STR when done right. I'm currently working through Avery Carl's STR boot camp and getting the tools ready to help me run a successful STR . I also fully recognize that STRs are not passive investments and require a lot of time and effort until I can begin to automate it.

I've been primarily looking in the Poconos as that is a destination that is familiar to me and one of which my family has been to many times. Going through past posts I've see some advise against going there while others say that there is still opportunity there. Now that the pandemic is winding down is that still the case? Can you currently run a successful Airbnb there?

So I guess my question boils down to whether the Poconos is a worthwhile investment in todays market or whether I should set my sights elsewhere? I would love to hear from those who currently invest in the area so I can understand the benefits and pitfalls of running a rental there as well as what to look out for when searching for my first property. I'm also in the process of putting together a team to help me realize my goals (I realize that the Poconos refers to a large area with many townships) and would definitely appreciate any recommendations.

I'm very grateful for this community and would appreciate any feedback whether pro or against! I would also welcome hearing of lessons learned through experience with your first STR that you can't get from a book or blog post. Thankyou!