All Forum Posts by: Nicholas Gaetano

It is really not that hard to buy a property in Costa Rica.  There are plenty of realtors there who are more than willing to help put together a deal.  All of the ones that I have worked with were very helpful and helped me coordinate everything I needed in order to purchase the 

Since I used to live in Costa Rica, I have great contacts for people to live at and manage our properties (we have onsite care takers).  Also, I have a great contractor that has done a great job with our properties.  

We decided to chose properties in iconic locations in Costa Rica.

The mountain house

The Beach House (Playa Avellanas)

And the rainforest house (in La Fortuna). This property will be purchased in August with 6 partners.  I have 3 of the 6 currently.

Let me know if you have any other questions.

I will. Thank you for the information! 

I have 2 properties in Costa Rica right now and I will buy my third there in August with partners. Then I am going to run investor retreats out of them in addition to renting them out on AIrbnb.  What questions do you have?

How did you get started? Finding a realtor, what areas did you decide on? Finding property management companies. I am really. In this property I wouldn't be so concerned with making money as long as it pays for itself and I have a nice vacation spot. 

Hey Nick!

Welcome to BP. This is a great place to network and learn.

I like the Monroe / Union County area. A lot of folks prefer Union County schools, so that is a general positive of investing in that area. There is a new hospital in Matthews, and a lot of investors will target hospitals for medium term rentals. With Monroe being off of Hwy 74, this makes it an easy shot to Charlotte, Matthews, and 485 to get elsewhere. All-in-all, I like Monroe as a place to invest.

In the current market, I think all strategies are still on the table, you just have to negotiate better prices. If you are going to buy with leverage, the increased interest rates will limit cash flow on rentals. If you're trying to flip and you buy with hard money, make certain you have a clear exit strategy and the property will perform as a rental if the flip gets overly expensive or the market does not like the price you try to sell at.

Hope this helps!

Syracuse and Utica are both great for cashflow, less exciting for appreciation. The biggest things to watch out for is the area you are buying in, and the condition of the property. Syracuse is very spotty crime wise, there isn't a cut and dry good and bad side of the city walk the area, talk to neighbors and get a feel for where you are buying (unless you don't care about that).  

Condition is a big concern because Syracuse is an aging city with a lot of 100+ year old rentals with large amounts of deferred maintenance. Trust me, I'm about $20k and counting over my initial rehab estimate because the last owner hid a lot of problems and I wasn't yet experienced enough to catch them. 

I'm a novice but always happy to chat REI with locals if you want to connect. Good Luck!

Syracuse and Utica are both great for cashflow, less exciting for appreciation. The biggest things to watch out for is the area you are buying in, and the condition of the property. Syracuse is very spotty crime wise, there isn't a cut and dry good and bad side of the city walk the area, talk to neighbors and get a feel for where you are buying (unless you don't care about that).  

Condition is a big concern because Syracuse is an aging city with a lot of 100+ year old rentals with large amounts of deferred maintenance. Trust me, I'm about $20k and counting over my initial rehab estimate because the last owner hid a lot of problems and I wasn't yet experienced enough to catch them. 

I'm a novice but always happy to chat REI with locals if you want to connect. Good Luck!

 Those are two pretty good cash flow cities because they are pretty low in appreciation and the rent to price ratio's are good.  When you are buying in the north east asset condition becomes the name of the game.  You can think you are cash flowing until your plumbing fails, you have knob and tube wiring throughout the house, and you have a tenant who stops paying.  

Hello Nicholas, the Syracuse area is the new site for Micron, a $100 Billion project in Clay. We are going to see @50,000 new workers come to the area, mostly high skilled. 

Here’s some info on Syracuse:

Syracuse NY ECONOMIC DRIVERS

• Syracuse recently named one of the Top 3 places in the country to live post-pandemic by Business Insider. • Significant corporate investment in the addressable market: • Amazon’s new 3.7 million sf Distribution Centercreated 1,500 new jobs in Liverpool, and an additional hub in Dewitt created another 500• Lockheed Martin in Liverpool recently won a record setting $3 billion contract• SRC Inc. a national defense research company added 300 new jobs at its Cicero headquarters, already employing 900 highly skilled workers• Raymour & Flanigan hiring 1,000 new employees at their field support and distribution center in Liverpool• JMA Wireless investing $100 million to build out an additional 5G component factory in Syracuse to complement the existing facility in Liverpool, and bringing much of its workforce to work in the area from around the country, bringing the number of local employees up to around 1,000.• Byrne Dairy investing $28 million to expand its dairy plant in Dewitt, increasing to 300 employees at the plant• Micron Technology, the second largest semiconductor manufacturer in the US after Intel, is building a $100 Billion computer chip factor in the White Pine Commerce Park – a 1200-acre development site owned by the County in the Town of Clay. The 4 plants will employ 9,000 highly skilled and salaried workers and ancillary supply companies will bring in another 40,000 jobs to the area. Construction will take 25 years beginning in 2024 (site work is already underway), with the first fab up and running at the end of 2026. An anticipated 7,000 construction workers will be on the site. A $500 million community fund is being allocated by an advisory board, and an additional $300 million will be granted to construction projects in the area. Health care and services will need to be expanded in CNY leading to more than 100,000 new people relocating to the area.

Let me know if you want me to send you available properties.