All Forum Posts by: Peter Nikic

why Columbis Ohio? do you have anything there yet? I'm investing in TN. we should connect. 

 It's very difficult. If you get a 3F and collect $5k in rent (which will be your mortgage payment), then you can live in the 3rd unit for the cost of taxes and other expenses (heating fuel will likely be the biggest cost other than taxes). 

It's not easy, and I would almost never recommend it, yet many people have done well investing in the Bronx this way.

message me if you have any specific questions.

mostly 2s & 3s, not sure about the FHA, probably.

Bronx is probably your best bet. Lowest starting price-point. Stay close to the subways. Westchester Square area (in the Bronx)  is probably a good bet, but many other areas as well. 

Shorehaven in the south Bronx has the ferry, worth considering.

Morris Heightsw has Metro North RR, also a good spot. 

BTW I'm a Broker and just looked at some of the 2-4 family properties in these areas, they're mostly over $800k. Unbeleivable, but still cheaper than Brooklyn and Queens. Good luck, let me know if you have any specific questions. 

I wouldn't bother either. 

It could be somewhat helpful, but I don't think it's worth it. Secondly, being licensed ties you to rules and regulations. Not that you're looking to break rules, but if you make a mistake and you're licensed, you can get fined and/or lose your license. If you're not licensed, it's just a mistake. 

I'm currently investing in NY and TN, but would be happy to share some insight on getting started. It's a slow and long process, but you need to start. And it seems like you're ready to start. feel free to connect and message me.

 what is your purpose of estimating the rent? are you trying to estimate potential or future rent? or just looking to re-rent an apartment?

the way I do it, is to see comparable rents currently being advertised, then pick a number you're comfortable with based on market rents. The response you get will give you an idea. If everyone that sees the apartment wants it, then it's probably low and if no one wants it, it's probably too high. 

yes. try to stick below Portchester (on NH Line), Mount Kisco (on Harlem Line) and Croton on Hudson (on Hudson line). Having said this, most multi family properties will be small (2-6 units), so it should be in your price range. 

the best values I've seen withing these areas was in Croton and Portchester. Most other places, prices and/or taxes were extremely high which makes the investment purchase tight. 

I'm an investor, but also a broker (NYS), and could talk on the subject for hours. message me with any specific questions. also, I'm mostly in the Sleepy Hollow, Pleasantville & Valhalla area and don't mind giving some guidance.

Tough question, how little $75k goes these days. Maybe try a 2 to 4 family house. I started with $50k in 1994, 28 years later, total returns/value has increased tremendously. Good luck. 

@Ali Mirabzadeh I would add that Denver is the bigger transportation hub which could be better for many reasons.