The city's appeal continues to drive demand for renovated properties. nypost.com2.

And if that driveway doesn't look bad to you, have someone else start inspecting your properties. 

@Javier Esquivel holding or selling would depend on what the property would rent for, what type of debt can be placed on the property and at what cost..Let's look at the numbers.value $117K75% ARV $87,500(Assuming this is lenders LTVRepairs $35Kall in after purchase is $68K(Depending on closing costs etc...)If the property would rent for a minimum $1400 I would hold as the property will cash flow and I would have the ability to take out all of my initial investment after lenders seasoning period.Delay finance at $75K @ 6% 30Yr Am P/I($500)\cash flow $200 per month at 50% expense ratioyou'll have $0 money into the deal with cash flow and around $42K in equity.This would be a no brainer hold for me.All the best!

You're going to learn A LOT from your first investment property so don't get discouraged.

Your work with syndications and value-add multifamily properties sounds exciting.

We are working with our property manager getting everything ready to go- we are just a few weeks out from going live (fingers crossed).

That's the best way to get into investing; holding the property you own and renting it when buying another.

@Joel Oh- if you are using a loan to acquire the property - the lender  requires  insurance ....if you own the property  free and  clear - your  choice  but I would still  recommend  insurance 

What types of properties would you be investing in?

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