Rental Property Investing in Westchester County NY.
My name is Peter Lombardi and along with my business partner began investing in rental properties in Westchester County NY in 2018. Between June and October of last year we completed our first project which comprised of the complete renovation of a 2 family home in New Rochelle NY. Once renovated and rented we were able to refi with a lender pulling a large percentage of our capital out of the project and began to look for our next deal. This month (May 2019) we finally closed on another 2 family home in Tuckahoe NY and are in the beginning stages of the renovations.
The reason I am writing this post and have signed up with BP is because I am hoping to meet other investors who are operating in the same geographical locations as I am. Over the past two years I have spent immense amounts of time studying this industry however most of the material that I have consumed comes from investors operating in other parts of the country where the numbers look totally different from what we see here in Westchester County. My hope is to connect with other investors from this area in order to both grow my knowledge base as to what is considered a successful deal as well better understanding variables or factors that should be looked at when analyzing deals specific to this location. My hope is to grow my network with other like minded individuals and hopefully form mutually beneficial relationships as I continue down this career path.
If you are currently operating in Westchester, have specific knowledge of the marketplace or are looking to get started investing in the area please feel free to reach out ot me as I would love the opportunity to discuss in more detail with you.
Hello @Peter Lombardi. Welcome and I am happy to hear you are doing well in getting your second property. This gives me hope for my first deal in that I am looking in Westchester County also. I am an architect and currently help owners renovate commercial and residential properties with hope to do the same for my own properties to hold.
I completely agree on the perspective outside of our locale.
Pete, call me.
@Peter Lombardi congrats on taking the plunge and diving in! I can tell you from experience that once you start with one, you get addicted quickly.
There's a few meetups that go on through Westchester and one in Newburgh headed up by some pretty great investors.
Welcome to Bigger Pockets!
This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.
Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro
If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/
The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search
Hi Peter,
I am a local New Rochelle investor and native born to New Ro. I’d love to connect, the more of us that get together the better off we all are.
I have structural engineering and construction management experience. I just went full time real estate in August when I joined EXP. Call me any time, I cohost some of the investor meetups in westchester also, we had one last night, I wish we had connected before now.
If you have time this weekend I’d be happy to show you my duplex project in New Rochelle. Shoot me a pm and we can exchange contact info