All Forum Posts by: Shane Mahar

In Albany, the leases for students are yearly, beginning June 1 of each year.  

Obviously things could be different there, but are you going to miss the majority of students looking to rent for NEXT year?

Meaning if you're not looking for tenants for June, will you miss the bunch?

I honestly have one inspector I would trust with any project. I've used him on my own home, and any investment I've bought. 

I even recommend him to all buyer clients. (I'm a Realtor).

Matt Smith - Ace Home Inspections - (518) 727-7091

Say Shane Mahar recommended you and he'll help you out.

no attorney needed.  I used legalzoom.com. It was too easy, to not recommend. 

hey Phil,

I'm from Albany and personally have a 2 fam in the "Student Rental Area" as well as managing a few properties and being a Realtor. There happen to be 5 colleges that bookend this one section that mostly contains 2 and 3 family homes. 

The Pros and Cons to student rentals could be a whole other story. But the ideal cap rate ends up being around 10%, but generally a little bit lower without making capital improvements. COC return would really depend on how you purchase the building (cash/mortgage).

Awesome Steve. Always love seeing fellow investors in Albany! 

Sebastian, I recently bought a 2fam on Washington Ave in Albany in September. Needed a total gut, but it's small with only two 800 sq ft apartments. Down to studs and back up again, my budget is around 60k. 

With that being said I've done what I could on my own, and I know some people who have cut some costs from my job as a Realtor and managing several properties for some other investors. 

Seems like your project is quite a bit larger and therefore quite a bit more expensive!

Hi Marylyn.

Is your duplex in Schenectady schools? 

If so then it may be worth more to an owner occupant than an investor. It is a VERY depressed rental market in Schenectady right now.   I think your Realtor may just be trying to get you the most money! 

(We are not ALL evil)