All Forum Posts by: Steve MacNerland

Hey all, I'm a local investor.  I don't have anything in Plattsburgh as of yet but it is an area we are looking at.   I think it would be awesome if we could start a meet-up...Anyone else interested?

Investment Info:

Single-family residence buy & hold investment.

Getting ready to do a complete Rehab for a STR.

What made you interested in investing in this type of deal?

It is right next to my house

How did you find this deal and how did you negotiate it?

It was on the MLS

How did you finance this deal?

100% Seller Financing

How did you add value to the deal?

Getting ready to rehab

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Real Estate Agent

@Jerrad Dumont congrats on the real estate liscense. I hear you on the expenses, I'm in the middle of a complete gut and reno. Keep me in mind if you come across any good deals on run down multi's. I'll be ready for another project come fall. Interested to see what you have going on.

Hey @Jerrad Dumont Thanks,, yea I still have this property. Its been a pretty good building for me. Your name seems very familiar. Are you from SL originally?

@Brandon Bartley I went to college in Canton. Miss the "fat bags"(not drugs). In my experience over the last 15 years in saranac lake, there aren't enough quality apartments for long term middle class. I've never had a problem with vacancies. I did a lot of work to this building to go from a class c to b Tennant. For the most part turn key properties will not cash flow but there are a bunch that need rehabs that you can still get deals on.

Hey @Kyle F., I have both in my portfolio.  I really like the cash flow of multi but single family are so much easier to come by in my area.  How about you?

Hey @Suzanne Player, the property is just West of Plattsburgh by about 50 miles.  Its nestled in the village of Saranac Lake, just 15 min from Lake Placid as well.  I purchased the property when I was 21 just out of college, its been a great asset for the past 15 years.  I think the 203k program is great, but you do have to have a contractor that is familiar with them.  Getting paid after the fact isn't always an easy pill to swallow for contractors starting out.

Hey @Jamie Brayton,  Thanks for the welcoming.  I really like what is going on the the Troy, Albany Market.  I wish I was a little closer to be part of it.  Look forward to seeing new things you are doing!

Hey @Luke Trovinger, this would be my 6th deal. It's the first BRRRR, but I like the model. Denver must be a hot market right now. I have friend that's an investor out there as well. Do you have any active deals?

Hey BP, while I'm new to the forums I have been listening to the Pod Casts for some time now. Just looking to connect with more like minded people in this business and keep learning from others. I've been in the business in Upstate NY for 15 years now with residential self managed properties. It has always been a side thing but my wife and I are ready to increase our portfolio and focus mostly on BRRRR's. Looking forward to the connections!