The program received over 1,000 applications, but later publications were critical of the program, citing too many limitations for property owners AND hefty construction costs associated with the conversions.There are likely 10s, if not 100s, of thousands of properties in NYC and surrounding suburbs with ADUs, and most are not filed with the building departments.

While I'm just beginning my journey in this industry, I'm passionate about real estate investing and eager to learn from experienced professionals.My goal is to build strong relationships with both buyers and sellers, ensuring smooth transactions and mutually beneficial deals.

Building strong partnerships!

You have a solid foundation, build on it.

BOE = Building basis less land value * 20-30% * applicable rate (now 60%)

Since it won't be cash flow in this condition and may run into loss it may offset my rental income but hoping to build equity and have another investment in my portfolio.What would you folks suggest?

We wanted to build a cabin for us but learned there is nothing and off grid so it has been sitting there for last three years and paying the property tax. 

I’m here to learn while I build cash reserves and attempt to make my credit as attractive as possible.

Hi Josh, Additionally, consider building conservative assumptions into your financial projections to account for potential market fluctuations, economic uncertainties, and unforeseen challenges.

I don't mean residential DSCR or other non-qm type loans but rather loans for office buildings, stipmalls, owner occupied SBA loans, etc...