All Forum Posts by: Ryan Ong

Hi guys, I'm looking to purchase a 2 family house in Brooklyn so would appreciate if you guys can give some advice. It's 700k for about 4000 monthly income in Bushwick.

Johann where do you see potential in reducing cost? If the taxes is very high (6000 for a 2 family home) is this one area where you can reduce cost by submitting an appeal?

And how do you guys estimate expenses when calculating cap rates?

Thank you!

Kwesi,

Just out of curiously which area of Brooklyn is your property located at? It sounds really cheap that a 2 family with a commercial unit can go for under 500K in Brooklyn.

Hi,

I have a question about the valuation of properties in Bushwick,Brooklyn. I believe the NYC market is different and we can't use the 2/50% rule here. Is there Anyone who is familiar with the current market who can share about what you think a property in the more gentrified area of Bushwick ( near the M train around Central Ave) cap rate or price per sq ft should be?

Thank you!

Brooklyn R, I'm looking to purchase a 2 family rental property in Bushwick. How do you estimate your expenses? I'm not too sure about my estimation: 6K (property tax), 6K (water/sewage, maintenance and insurance).

Dyrol what kind of windows are you referring to are they effective? The owner is proposing building another set of windows on top of the existing one. He probably wants to save money by not switching the old windows for some good ones or maybe building another set of windows would block the sound better? What do you guys think?

Hi guys,

I'm looking to purchase my first investment property in Bushwick, Brooklyn. This property is directly beside the above ground subway and whenever the subway passes the sound is pretty loud in the living room. Do you guys think this is a big negative? Are there solutions to this problem like windows which blocks sound and if you have experience with this how much would that cost?

Thank you very much!