All Forum Posts by: Nate Monson

@Bradley Stoddard yeah the short answer to that would be no. Erik mentioned a couple good alternatives but unless you have a property to pull funds from or a partner or relative willing to fund the project most banks will require you to have some skin in the game.

https://www.avail.co/

This software has been used by some clients of mine and they like it. I believe it's about $5/door. Not sure how they integrate with storage units, but I would imagine they may have a solution. Maybe not a perfect one. 

@Angela Persico Nico Caridi is the attorney I recommend, Caridi Law Firm. 

@Evelyn Pecho I am sure there are members here on BP who can comment on your market down there as to what their take on STR are going to do.

If I'm doing my own thought experiment I can see how disposable income may be getting reduced due to inflation. However, I can imagine that some types of STR may be targeted toward a high income segment of the population. In my market a lot of our STRs are seasonal with the horse racing track bringing in significant dollars. There wasn't a significant reduction in the spending there this year. In Albany there are other STRs that are used for conferences with the state buildings and those are still going strong as well.

Good luck!

Hi @Kendricks Kemp the biggest first step everyone should take is to define your goal. Saying your want to "invest in real estate" is too vague to allow you to really get started. Why do you want to invest in real estate? Are you looking for more income streams? Want to be financially free? Or maybe you're passionate about providing good housing for renters (landlord) or first time home buyers (flipping)? Real estate is hard work and if you're only going to be half way in, it could become more frustrating than it is beneficial. Define your goal and you're WHY first and then you can move into the HOW phase of what you actually want to do. 

By all means feel free to message me if you'd like anymore help with this!

@Adam 

@Adam Alvarez you're in the right place! BP is an awesome place to expand your network and to learn how to get started in the real estate game. Good luck!

Hi @Stephen E Drew I'm going to send you a message. I am from Albany and would love to connect sometime!

Certainly if you can obtain those numbers with the rising interest rates go for it!

Hi @Joseph Z. I am a realtor in the Albany, NY area. I would love to share some info with you about our market up here. I'll send you a DM

@Donald DiBuono I would also add Helderberg and Melrose. Those markets aren't necessarily growing. But fit more of the "best neighborhoods" category. Albany isn't much of a growth market either it is more of a stable cash flowing market.