small multi fams in NJ/metro NYC s/t rental

small multi fams in NJ/metro NYC s/t rental

Rental Property Investor · Kingston NY · Member since 2016 · 17 posts · 1 vote

Getting back into buying after a rather long hiatus since the crash... after burying about 300k cash into a small farm rehab project, now am operating with far fewer resources than before. Excited to buy 3fam or 4fams, may live in or may not, and rent out on s/t furn basis...and do some fix up...like to buy with at least seller paying close costs and small seller carry-back loan of 10k-30k...

Great to be part of this community! 

Goal: get monthly net income to 6k for retiring from f/t work. 

(one res rental now and one comm bring 575 clear/mo: 5,425/mo to go!)

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  • Dave VisayaPro Member
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    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    10y

    Hey @Marcia Langley welcome to BiggerPockets! Definitely start jumping into the community here and feel free to ask any questions related to Real Estate investing!

    BiggerPockets
  • Rental Property Investor · Kingston NY · Member since 2016 · 17 posts · 1 vote
    9y

    Thanks! Has anyone out there almost lost everything in the recession, learned great lessons and gotten all the way back in? Any comeback tips or things that worked?

  • Rental Property Investor · Kingston NY · Member since 2016 · 17 posts · 1 vote
    9y

    ps this above is referring to the real estate investing career...not the agent job ...bought and sold 22 units to date, all acquired 1995-2007. Offer pending now on a 2fam short sale next to great NYC public transit...with very good numbers...actively used underground oil tank...needs updates.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Marcia Langley

    Welcome to Bigger Pockets. A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

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