First Rental Property Investment In The Books...

23 Replies

Liked the numbers on a little 2 family in Catskill, NY..Was looking at buildings throughout the Hudson Valley for my first investment ,but the cash flow is low for the amount of capital to be put down..Decided to redesign my strategy, went on the hunt for multifamily -  really enjoying it !! I have a positive cash flow of 4,853 after all is said and done on my first unit, and I feel good about it..I would like to put together a portfolio of 4 to 5 positive cash flow properties -that are similar in size and price -before getting back in the ring with buildings..Learned a lot from the BiggerPockets Community, thanks y'all !!!!! 

Congratulations on the purchase and thanks for sharing. Onward and upward!

Congratulations! I'm from Athens which is the next town north of Catskill. I have been looking in Catskill also. The area is finally doing well with a lot of new money flowing in. I'm interested to see what happens to the old Friar Tuck resort. It was purchased in September and Investors said they are putting 60-120 million into it. Also Carls Rip Van Winkle Motor Lodge with a $7mm investment and the Astoria Motor Lodge was recently purchased and is being renovated. These are very good signs for a long forgotten area.

Hi there! New to BiggerPockets. This thread caught my attention as I'm also in the Hudson Valley - in the Stone Ridge/Accord area. I've been operating a larger vacation rental and seeing huge success. Looking to buy 2-3 more properties in 2021. VERY bullish on this area as I see sustainable vacation rental growth. I'd join a club! I'm also willing to partner up with other investors to gain access to more capital! #Strengthinnumbers

Congrats on the first! There's a Westchester Real Estate Investors group on Facebook run by Rachelle Rayner that is pretty active and inclusive.

I'm in the process of a small building in Kingston, and own a two family in Westchester. 

If any of you are looking for another two family, we just put ours on the market.

It really is exciting, a true rebirth..I have lived and owned a home in Hudson for 10 years, great to see Catskill finally getting some action- Hudson is excellent- but I see more opportunities across the bridge at this given time..Keep in touch !

@Joseph Serignese

 Stone Ridge is a perfect area for what you are doing ! I think the club formation is a no brainer and I hope to meet you at one..I also wouldn’t mind investing  on some property at some point-with partners..More Capital More Properties !!!! Let's stay in touch..

@Marc Ende