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Updated almost 7 years ago on . Most recent reply

Darren Cusanelli's profile image
Darren Cusanelli's profile image
Darren Cusanelli
  • Contractor
  • Member since Nov 29, 2018

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21
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10
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Darren Cusanelli's profile image
Darren Cusanelli's profile image
Darren Cusanelli
  • Contractor
  • Member since Nov 29, 2018
Darren Cusanelli
  • Contractor
10
Votes |
21
Posts
Creative Real Estate Financing

Obtaining second property ...

Darren Cusanelli
  • Contractor
Posted
I bought my first house for 27k upstate NY...its rented and worth 62k...I wanted to pull 30k out for next one...good idea?
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Stevie Mobley's profile image
Stevie Mobley's profile image
Stevie Mobley
  • Realtor
  • from Sacramento, CA
  • Member since Jun 13, 2017

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Stevie Mobley's profile image
Stevie Mobley's profile image
Stevie Mobley
  • Realtor
  • from Sacramento, CA
  • Member since Jun 13, 2017
Stevie Mobley
  • Realtor
  • Sacramento, CA
6
Votes |
8
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Stevie Mobley
  • Realtor
  • Sacramento, CA
Replied

Hey Darren,

Sounds like a bargain! How did you increase the value if you don't mind me asking? Did you rehab at all or did the incoming rent/NOI boost the home's value? I've been browsing upstate NY markets, specifically Rochester and Buffalo, for my first investment. Although the property taxes seem a bit high, the returns considering all factors look attractive.

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