All Forum Posts by: Michelle Pepe

 Hey Ken. Im a resident of HV and an agent here as well. With rates having skyrocketed... utilities are unfortunately almost always high. Electric averages 17 cents a kWh and all the utility companies around here charge you just to have an account... AND then to "deliver" the utilities to you. My husband and I are VERY conscious about using daylight instead of electricity all day (haha), and try to be economical with hot water, etc. We still pay $125 a month just for electric. Then propane is between $2.50-3.50 a gallon delivered. I'm sure natural gas through public lines end up working out to a similar number. Hope this helps!

 Hey Christopher! Im an agent in the Hudson Valley, and $575k goes a loooong way just a bit further north than westchester/rockland. Monroe, Newburgh, Middletown... those are all places in Orange Co, NY that your price range would get you what you're looking for. Let me know if I can help in any way!!

 if you need anything, feel free to reach out. I cover the HV as an agent.

 Depending on what part of "upstate" you're talking about... the Hudson Valley is huge all year round. In the winter, people trek from the city and Jersey to ski and stay in the nice "country" areas for holiday breaks. In the Summer, there's everything from mountains to hike, to Bethel Woods Performing Arts Center (the original Woodstock!) for summer concert series! There's tons of lakes, and therefore lake houses that do very well with short term rentals. Even in the fall, the Hudson Valley is booming because of the fall foliage and booming wedding season.

 Caroline is completely right! The mass exodus from the city during covid pushed everyone upstate, but a majority of people stayed along the Hudson River. Kingston, Newburgh, Poughkeepsie, etc are all flooded with new people - most of which who rent! There is also a great market for summer and winter rentals in the Hudson Valley as well... people come to see the "country" as if Orange County isn't one of the highest populated counties in NY!

Hey Nicole! I'm an agent in the Hudson Valley. Feel free to reach out if you're interested in LTR or STR in this area - especially because we're a ski destination in the winter and a lake/camp destination in the summer and fall!

Hey y'all. All my properties have been purchased using conventional loans. But I have a great opportunity in Indy and I'd love to get everyone's thoughts and suggestions as far as private lenders. $140k purchase price - looking for 80% LTV. Thanks in advance!

 Hey Alex. Reach out to me I'd love to get setup with a local realtor!

When rates were at 3% even for investment properties/second homes, the cash flow in NC was fantastic! Rents along the southern coast of NC were well over the 1% rule most investors try to follow. On a $125,000 condo, even with HOA fees, we found $500+ in monthly cash flow on long term rentals. Now that mortgages for investors are 7%, the cash flow barely covers property management... on to the next state!