All Forum Posts by: Yifan D.

I want to expand my portfolio in 2% areas. 

Want to buy a small apartment building in NYC. Building has to be between 4 and 9 units. Need to find a way to finance such a deal.

My opinion is to simply stop renting and buy a place to live in. Unless you are getting cheap rent via rent control, you can plow all that rent money into a mortgage. 30 yr conforming is about $500/month per $100k borrowed. You also get the interest deducted so IRS will pay about 2 months for you each year in the beginning. You can probably find a good deal this winter. My best deals are in between Thanksgiving and April Fool's. You get rich by investing in equity appreciation in NYC then use HELOC to get those high rent ratio properties far away.

@George Chang

Congratulations on your deal!

Are you buying in south Bethlehem or north Bethlehem?

My rentals are in the south.  Do you have other rentals in the area or you are just getting started?

I currently have two sfr rentals in Bethlehem.  I'm in the process of getting more rentals in the Lehigh Area.

@Ryan Oldenhage

Thank you!

Another PM I called also told me that they unloaded their rental management business because the the retail residential market is hot right now and they just want to focus on the brokerage business.

I have been compiling a list of property managers in the Lehigh Valley area (Allentown-Bethlehem-Easton).  I have been googling Allentown and Bethlehem property management companies.  I currently have 2 rentals in Bethlehem, but I am an out-of-state investor.  As you all know, property management is critical to our investment, but we lack a yelp for such services.  Please use my list to get you started in search of a property manager if you are in my situation.  However, the list is not exhaustive and may not be current and may not cover the entire Lehigh Valley territory. 

DISCLAIMER: I'm making no recommendation of anyone on the list.  Please do your own due diligence before committing to a contract.  Please try to meet the owner of company in person before any commitment.

Pinnacle Property Management Group

Cassidon Realty *

Green Valley Property Management

DLP Property Management

KPMM Keystone Property Management Maintenance

Equinox Property Management

Apex Property Management

Real Property Management

Sunburst Property Management

West End Associates Inc.

Dietrick Group, LLC

Advanced Realty Services, Ltd 

*DISCLOSURE: I currently have a contract with Cassidon for my 2 rentals.

I will provide URL and phone number for each once an admin of the site gives me permission.

Please feel free to add more to my list and provide any first-hand experience in dealing with any property manager in the Lehigh Valley area.

Just a quick update.

I bought 2 houses in Bethlehem early this year.  They are rented out.

Looking for more deals in Lehigh Valley area PA.

I picked this town because I personally know another guy who owns several properties.  The prices seem reasonable too.

@Brian

Can you rent out the co-op? If yes, you can get a cash out from bank using parents as lendees without selling the co-op.

When you buy another place, ask your parents to issue you a market interest private mortgage note with them being the lender and you the lendee.

If you have a car, how far you are willing to drive to get deals? You will be hard pressed to get the 2% within 1 hr of nyc.

I'm looking for a CPA in the area also.  Please provide any recommendations.

@Sam Harris.  Welcome!

I live in Queens and is actively expanding  my rental portfolio.  I only has one rental in NYC which I house hacked.

Cash flow from rents is hard, but I know there are still reasonable deals if I look hard enough and be patient.

I'm more active in secondary markets.  My recent acquisitions are in Lehigh Valley.

However, I'm looking to connect with others.  My goal is to acquire a small apartment building with 5 or more units.

Please connect with me if you are interested in networking or providing me with leads.