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!
@Hugh Horner how many units, and where did you buy? What's your COC return?
@Scott Wolf 2 units on Water Street in Catskill, NY looking at Crossroads Brewery, COC is 12.6 %
@Hugh Horner congratulations!
Hello, and congratulations. I am waiting to close on my first investment property in the Hudson Valley as well. It's an already functioning Air BnB. Good luck!
@Chris Szepessy Thank You !!
@Elizabeth Holloway That’s fantastic ! Good luck
Congratulations! Here’s to 5 more of those!
@Adam Kushner Thank You !!
@Hugh Horner hopefully I’ll be getting my first multi family rental in the Catskill area over the winter.
Given that there are three of us (so far) in the Hudson Valley area, does anyone know of a local real investing club/group? If now, maybe we can start one. Has to be many more of us.
@Adam Kushner Good luck ~ they are starting to pop up !￼
@Elizabeth Holloway Everything I’ve seen for meet up’s are further down the river -Poughkeepsie Westchester or North- Albany Troy, 100% we need one ! Love the idea
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.
Woohooo. Great work, keep it up and congratulations on your success.
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.
Thank you for the support, give my love to TX please, My Mother and that whole side are from The Hill Country.
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 !
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..
Thanks for the info, crunching some numbers in Troy currently, but plan on doing the same in Kingston after the holidays- would love to touch base then..Take care
I'm new to this forum and Biggerpockets and would be interested in a local real estate group if anyone else is. I think this area has good potential going forward!