Real Estate Agent · Staten Island, NY · Member since 2016 · 4 posts · 3 votes
I'm a name is Ricky Richardson I'm a real estate agent who lives on Staten Island and this is pertaining to the discussion about investing on Staten Island it is very true Staten Island will be the next Borough that development will be going up all over the place I'm already seeing it happening now! I am already looking at potential deals! Such as fix and flips,lots for developments abandon homes that can be knocked down and replaced with commercial buildings and More!
Lender · Staten Island, NY · Member since 2017 · 30 posts · 12 votes
9y
I close on a 2970 sq ft (500 sqft below grade) semi-attached this upcoming wednesday. 2 family!! I'm going to live in it for a few years to build equity. My mortgage guy and I structured a sweet deal that made all parties very happy. I can share my story if anyone wants to listen.
I'm not a real estate investor just yet, but by the looks of it.... 2017 is going to be fun. I'm a Brooklyn native who can't afford to buy a house in Brooklyn, yet, so I'm moving the family to Staten Island.
Lender · Staten Island, NY · Member since 2017 · 30 posts · 12 votes
9y
I close on a 2970 sq ft (500 sqft below grade) semi-attached this upcoming wednesday. 2 family!! I'm going to live in it for a few years to build equity. My mortgage guy and I structured a sweet deal that made all parties very happy. I can share my story if anyone wants to listen.
I'm not a real estate investor just yet, but by the looks of it.... 2017 is going to be fun. I'm a Brooklyn native who can't afford to buy a house in Brooklyn, yet, so I'm moving the family to Staten Island.
New York City, NY · Member since 2016 · 4 posts · 0 votes
9y
@Rick K Richardson I am interested in SFHs and small multi-unit properties. I moved to NYC a year ago and have been reading up on buy and hold investing for months now. I'd like to get involved in investing in this area. Count me in.
Investor · Parkville, MD · Member since 2015 · 28 posts · 6 votes
9y
Hello @Rick K Richardson, I am also looking on SI, I have lived here for 10 years. I currently invest in Baltimore Maryland but want to start up in NY/NJ area. Please count me in if you have any good deals. I would also like to meet with you to discuss further.
Baltimore, MD · Member since 2015 · 80 posts · 18 votes
9y
I am interested in anyone who is knowledgeable in the Staten Island market around McClean Ave by Holy Rosary School. What is the surrounding rental market like? Do you think the market hit it's peak and be better to sell?
Definitely progress on those projects and should bring a nice amount of economic activity to the area!
That said, I do have a property out there and renting it out was a learning experience. It was very difficult to get Manhattanites interested. Points that stood out:
ferry ride is 30 minutes just to get to the tip of Manhattan, so Midtown is an hour ride giving LIC a huge advantage
the rush hour crunch at loading at either end of the ride isn't that pleasant
the Verrazano Bridge toll is $16 cash, which makes it a bit awkward to invite family / friends over on the weekend (compared to areas served by free bridges)
the local supermarkets are in less developed areas which requires venturing out of the luxury bubble (which will probably change)
What I found is that people looking to rent on SI already have some connection to SI (which means avoiding the bridge toll issue and familiarity with the commute).
This is not necessarily a Bad Thing. Just know that the pool of potential renters might be a lot smaller than you think.
If anyone has had more consistent luck attracting non-SI folks to rent there, I'd be happy to hear how it's done!
Real Estate Agent · Staten Island, NY · Member since 2017 · 4 posts · 0 votes
9y
and to everyone that doesn't live here, it's not a hot market @Alvin S. explained some of the main reasons it won't be unless dramatic changes happen.
I worked on the Empire Outlets project as an intern at Casandra Properties the largest commercial firm on Staten Island, I was doing cold calling to get companies to buy into the Outlet Mall, high end consumer/european brands were the target... I left about two years ago, but have heard walgreens and other basic stores are going in which has annoyed people from the island off cause it's not bringing anything new to the island. Manh wealthy folks that live on the south end of the island are not going to drive to the north end (St George Area) part of the island to shop at walgreens. Also parking by the ferry is not a great situation, also it is a very potential hazardous flood zone as we saw with Hurricane Sandy. Mainly I'm talking about the north end of the island now, but there are great deals to be had here.
Real Estate Agent · Staten Island, NY · Member since 2017 · 4 posts · 0 votes
9y
Hey Everyone,
My name is Sam Flaxman, love my biggerpockets community and somehow missed on this forum. I've lived here for 4 years on Staten Island as a college student at Wagner College and work on the Poulsen Team at Compass on 90 5th Ave in Manhattan as a RE agent soon to be broker.
I know the market and trends extremely well, especially have a network of renters from my school that need off campus housing. I currently live in a gorgeous multifamily duplex over 4500 sq ft with 4 bd, 2ba on one half covering two floors and 3bd 1ba on the bottom.
I am looking for investors to come in and work with to buy this from my current landlord. If you are interested in working on other multi-family properties and learning the market on staten island I'd be glad to help.
Real Estate Agent · Staten Island, NY · Member since 2017 · 4 posts · 0 votes
9y
My name is Sam Flaxman, love my biggerpockets community and somehow missed on this forum. I've lived here for 4 years on Staten Island as a college student at Wagner College, but work at Compass on 90 5th Ave in Manhattan as a RE agent soon to be broker.
I know the market and trends extremely well, especially have a network of renters from my school that need off campus housing. I currently live in a gorgeous multifamily duplex over 4500 sq ft with 4 bd, 2ba on one half covering two floors and 3bd 1ba on the bottom.
I am looking for investors to come in and work with to buy this from my current landlord. If you are interested in working on other multi-family properties and learning the market on staten island I'd be glad to help.