I HAVE AN ISSUE  FAMILYI WANT TO BUY A MULITI FAM TO BRR..BUT MY MORTGAGE BROKER TRYING TO CONVINCE ME TO GET A TURNKEY MULITI FAM PROPERTY FROM A GUY HE KNOW THATS WELLING TO PAY THE CLOSING COSTAND I WOULD HAVE TO PUT DOWN MAYBE 3 %  OR 4% PLUS AS A BONUS  HE SAYS CAN GET MY PROPERTY IN THIS PROGRAM CALLED SOTA The SOTA program will pay one year of rent for eligible Department of Homeless Services (DHS) clients to move within New York City, to other New York State counties, or to another state, Puerto Rico, or Washington, D.C.

The demand is orgamic and from the 85% who have NOT lost their job.Lending standards are much tighter that in 2008; in fact banks were quick to raise the bar in April and we have seen the average FICO jump from the low 700s to almost 750!

@Miguel OlivieraHi Miguel - I am in New York with properties in Jacksonville - do you have properties in the area?

@Drew DaveluyWelcome to New York City!

We are located in New York which is reopen on June 9th as first stage.I am thinking of giving two option.1) 30% off this month2) pay 60% now and defer 40% rent after 3month.This case is different as they are Comecial tenant who is on restaurant equipment business.

But that's a pretty high bar for most people in most places.

Well I guess finding good deal is not easy in New York or more precisely in one of the five boroughs.

Hope all is well everyone!
I'm from Greenwhich, NY, (near Saratoga Springs) and i am currently deployed overseas, I am looking to purchase an income-producing 2-4 unit multifamily home, within the capital district, w...

It is funny you mention that; I invest in New York State so a turn to full communism is something I have been dwelling on a lot recently.   

Natasha from Upstate New York