Investors in Johnson City NY?
Hi BP community!
Excited to see all the information I’ve taken in over the course of a few years on real estate. Currently, I’m in college and will be graduating this spring.
I’m new to this so I’d appreciate the patience when you read my questions.
I’m looking to purchase a property upstate NY and just curious to see how everyone feels with taking on a property with paying tenants? How do I know if these tenants are in fact paying? Do you think a LL would lie to sell the property? Because the sellers agent said Financing is available I’m assuming that they are paying. (Might be a dumb question - sorry) Anyone have any advice on this? The rent is not market price and and I’m assuming it would be due to the condition (did not see it yet - walkthrough will be this following week). It’s a 3 family home and With 20% down I’m looking at $700 cash flow after all expense. The numbers will be more accurate once I see the property with my contractor. Expenses are all separate, water sewage(I pay) Is factored in expenses.
Sellers agent listed water and sewage $2,100 - is there a way I could check what the bill has been the past couple of years?
This will be my first deal and to be honest, I’m a bit freaked out. Would love to hear some insight from experienced investors in the area and any advice would be greatly appreciated!