New BRRRR Investor Looking for Connections in NYC
New to Real Estate · New York, NY · Member since 2021 · 9 posts · 4 votes
New BRRRR Investor Looking for Connections in NYC
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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votesQuote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
Hello @Arunabh Ganguli!
All the best to you in business school!
The BP forums are a great place to connect with local RE investors and other good points of contact to have.
I'd also recommend using the BP Search function to look up topics or people of interest.
Depending on your budget, you may have the most BRRRR opportunities ~60-90 minutes outside of NYC (i.e. Suffolk, Westchester and Rockland Counties). To have even more options at a lower price-point, you'd likely want to venture further north in NY (i.e. Ulster County, Capital Region, Rochester, Syracuse, Utica, etc.).
Rents and demand will vary as you move further from NYC.
To find the best deal possible in/around NYC (including the 5 boroughs), you'll want to go direct to seller or work with wholesalers, agents or partners to source off-market deals.
Keep in mind that competition is super high in NYC so the best 'deals' have the most baggage.
- non-paying tenants
- deferred maintenance
- title issues
- open permits, code violations, etc.
All the best to you on your search!
Abel
REbuild Team - eXp Realty5234 Reviews
8 Replies
- 3yAbel CurielBusiness MemberReal Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
Quote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
Hello @Arunabh Ganguli!
All the best to you in business school!
The BP forums are a great place to connect with local RE investors and other good points of contact to have.
I'd also recommend using the BP Search function to look up topics or people of interest.
Depending on your budget, you may have the most BRRRR opportunities ~60-90 minutes outside of NYC (i.e. Suffolk, Westchester and Rockland Counties). To have even more options at a lower price-point, you'd likely want to venture further north in NY (i.e. Ulster County, Capital Region, Rochester, Syracuse, Utica, etc.).
Rents and demand will vary as you move further from NYC.
To find the best deal possible in/around NYC (including the 5 boroughs), you'll want to go direct to seller or work with wholesalers, agents or partners to source off-market deals.
Keep in mind that competition is super high in NYC so the best 'deals' have the most baggage.
- non-paying tenants
- deferred maintenance
- title issues
- open permits, code violations, etc.
All the best to you on your search!
AbelREbuild Team - eXp Realty5234 Reviews - 3yAlex BekezaBusiness MemberLender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
@Arunabh Ganguli Let us know when you're ready to pull cash out of that first BRRRR. We'll do so without 6 months seasoning (only need 3), LLC vesting, and qualify it completely based on the property's DSCR.
Investor Property Loan5306 Reviews - Member since 2023 · 57 posts · 18 votes3y
Quote from @Abel Curiel:
Quote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
Hello @Arunabh Ganguli!
All the best to you in business school!
The BP forums are a great place to connect with local RE investors and other good points of contact to have.
I'd also recommend using the BP Search function to look up topics or people of interest.
Depending on your budget, you may have the most BRRRR opportunities ~60-90 minutes outside of NYC (i.e. Suffolk, Westchester and Rockland Counties). To have even more options at a lower price-point, you'd likely want to venture further north in NY (i.e. Ulster County, Capital Region, Rochester, Syracuse, Utica, etc.).
Rents and demand will vary as you move further from NYC.
To find the best deal possible in/around NYC (including the 5 boroughs), you'll want to go direct to seller or work with wholesalers, agents or partners to source off-market deals.
Keep in mind that competition is super high in NYC so the best 'deals' have the most baggage.
- non-paying tenants
- deferred maintenance
- title issues
- open permits, code violations, etc.
All the best to you on your search!
AbelHi Guys,
I am also looking to partner with a good team in NY, specifically Syracuse and surrounding areas for buy and hold and BRRRR. I would like SFH and small MFH that need a little love. I am a local investor based out of Montgomery County MD, but I am very much interested in this market if anyone knows agents, property managers, reliable contractors I would love to connect.
-Nico
- Real Estate Agent · Miami, FL · Member since 2022 · 238 posts · 102 votes3y
Hi Arunabh, we have a coop in Upper West Side coming on the market next week that is a handyman special. Whereas, coops in general are not the best options for investors who want to renovate and rent right away, we had a client purchasing a gut coop for personal use for 1-3 years, and then it will become a rental investment. All depends on coop rules.
Condos can be rarely found in distressed condition, but it is possible to find ones as value add.
I think the best way to invest in BRRR properties in NYC is to go to the closest boroughs such as Brooklyn, Queens, Bronx.
- Real Estate Agent · Brooklyn, NY · Member since 2022 · 55 posts · 28 votes3y
Quote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
I am a real estate investor myself implementing the BRRRR method to scale my own portfolio.
I am an agent based out of NYC and I am happy to connect and help you find your next investment property!
I may also be able to connect you down the line with other local investors once I get to know you better.
Reach out to me directly and we can talk next week.
- Member since 2021 · 12 posts · 3 votes7mo
Quote from @Zalman Ives:
Quote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
I am a real estate investor myself implementing the BRRRR method to scale my own portfolio.
I am an agent based out of NYC and I am happy to connect and help you find your next investment property!
I may also be able to connect you down the line with other local investors once I get to know you better.
Reach out to me directly and we can talk next week.
Hello Zalman,
Are you still investing in properties? I'm looking for a nyc house hack and wondering if you had any insight or advice. Thank you! - Real Estate Agent · Brooklyn, NY · Member since 2022 · 55 posts · 28 votes7mo
Quote from @Cristian Cedacero:
Quote from @Zalman Ives:
Quote from @Arunabh Ganguli:
Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!
I am looking forward to connecting!
I am a real estate investor myself implementing the BRRRR method to scale my own portfolio.
I am an agent based out of NYC and I am happy to connect and help you find your next investment property!
I may also be able to connect you down the line with other local investors once I get to know you better.
Reach out to me directly and we can talk next week.
Hello Zalman,
Are you still investing in properties? I'm looking for a nyc house hack and wondering if you had any insight or advice. Thank you!Text me at the phone number in my signature and I'll be happy to have a conversation.
- Investor · Rochester, NY · Member since 2015 · 499 posts · 169 votes3y
I invest full time in Rochester NY--let me know if you have questions
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