BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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Looking to Build a Team and Connect with investors in Albany/Troy

Posted Jul 8 2022, 12:23

Hi BP,

I am looking to purchase my first investment property in the Capital region of NY. I personally like Albany and Troy
I'm living in NYC for work, but hoping to make an exit in the next year or two.

My goal is to purchase a multi-family home in Albany/Troy and use the hard money loan to fund the renovation and add forced equity. In a perfect world, my exit strategy is to refinance out of the HML into a conventional 30 year loan. I am looking to purchase as an investment property and will not be owner occupied.

I'm currently sitting at square 0. 

I need to connect with a Hard money lender who can help fund purchase and renovation. From my research, it seems the HML's are mostly located in Boston and NYC, however I would go out of my way to work with a local lender if possible.

I am also looking to connect with any local investor-friendly real estate agents in the area. 

Not sure if its allowed on BP, but I would also appreciate any information in the direction of a trustworthy contractor who operates in the capital region.

Thanks in advanced for all/any information. 

Upstate New York, New York

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Bob Reinhard
  • Lender
  • Patterson, NY
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354
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Bob Reinhard
  • Lender
  • Patterson, NY
Replied Jul 8 2022, 13:01

Greetings Austin.

I lend privately and independently broker so always feel free to reach out by phone to talk real estate and also to discuss any hurdles that you may face in the financing end.. (BTW, I'm not in Boston).

For a great real estate/investor friendly agent, I highly recommend @Stephanie Jacobson; great resource and has a very interactive personality.

Much success !

Bob

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Stephanie Jacobson
  • Real Estate Agent
  • Binghamton and Ithaca, NY
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299
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Stephanie Jacobson
  • Real Estate Agent
  • Binghamton and Ithaca, NY
Replied Jul 9 2022, 08:49

Thanks so much, @Bob Reinhard!

@Austin Plantinga I don't actually cover Albany, but I could help you find a BRRRR-friendly agent there. In the meantime, Bob is my favorite private lender, he's a fantastic connection to have. Keep us posted!

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Akshay Nihalaney
  • Investor
  • New York
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Akshay Nihalaney
  • Investor
  • New York
Replied Jul 9 2022, 09:22

Hi @Austin Plantinga

I live in NYC and invest in Albany.

I have worked with @Alison Walden, she is local to the capital region and has helped me with my 3 deals in Albany. She is an investor herself, so understands the different investment strategies and can help you with what you're looking for.

Good luck with your journey. Feel free to reach out to me if you have any Qs. would be happy to connect.

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Replied Jul 10 2022, 13:15
Thanks @Akshay Nihalaney! I'd be happy to set up a phone call @Austin Plantinga to discuss further!

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Replied Jul 11 2022, 10:54

Hi all,

Thank you so much for the advice and direction. I will reach out privately with a PM. 

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Robert Wetter
  • Real Estate Agent
  • Albany, NY
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Robert Wetter
  • Real Estate Agent
  • Albany, NY
Replied Jul 12 2022, 07:26

Hey Austin, Just PMed you!