All Forum Posts by: Christian Lincoln

Looking for a good excel sheet - not to complicated, to keep track of 10 rents on one property.  One that hopefully states not only what is owed but keeps track of each individual situation.  thanks,

Hey Mike, 

A little late to your post, but I'm starting to invest in Hudson Valley too.  Locked into a couple of buy and holds, but now looking for a modest flip, in Mid Hudson valley, Hopewell Junction would be great. I'm in New Paltz.  Have offers in Beacon right now.  Also interested in private lenders etc, until my credit is bumped back up.

Keep me posted on your movements. 

best,

Christian

Agree with Chris.  Beacon popping or popped. Newburgh sketchy, you have to know the area well. Poughkeepsie wants to pop (as does Kingston), but alas, it has no pop. The colleges there make is fairly safe, but it's definately no a flip market.  buy and hold multi-family, but tough neighborhoods.  Saugerties had a pop about six years ago.  It still seems good, but burdened by a lot of ranch, dull, 1950's, not so pretty S.F.'s  Rhinebeck/Woodstock/New Paltz/Stone Ridge/ too expensive, inflated from weekenders - nyc.  I'm looking for a flip now, if you want to discuss.

Emily, that's a great idea.

Thanks @Colleen F  and Jermaine.  That's good about police stuff.  Yes there is a lot of that in this town, so nipping that in the bud would be good.  And adding the common sense stuff, as they ARE messy.  okay.  Gotcha.  I'll talk to my lawyer about it.  He doesn't seem to have one, but he's going to ask someone.  

I know they vary for each property, but at least the basics to make sure I"m not missing anything? I don't want to re-invent the wheel.  There are certain things students related to student problems etc.

thank you,

christian

I will attend.

So this seems to be a go. How it's shaking out, different from @Brandon Turner 's video and my newly acquired numbers.

The difference between lowering the rent a bit and having the students (or tenants) pay the utility bill will be huge. And that's because i'm in the NorthEast. $$$$ oil/gas and electric highest in country.

The difference between the number of bedroom and adding one more is huge. Once you hit all your overhead and mortgage, that next room is basically all profit.

Ask the owner to hold the note if you have some credit issues. Pays off. I will re-fi in a year. So that 8% will hopefully be a 5% and the numbers get better.

Property has septic and wells, so no water bills. Trash only 400 a year. And I overestimated for electric but that's fine.

The lawyer has been very helpful in sorting out the kinks both with town and with eccentric owner, who was insisting a friend of friend stay in one of structures past the time the students return. 3 months after the closing.

Brandon, You are my new analysis HERO. Just seeing this now. so awesome!!!!

Anybody? I'll pay a seasoned investor for 1/2 hour phone call on this.