Good morning, I am currently using Turbotenant for tenant screening/rent collection and reminders, and lease creation. They also offer a marketing option and outsources to another provider for bookkeeping. I love it, however, it’s missing one key thing for me. It does not provide banking accounts...
I'm going to be listing a four family rental property for my dad. It's a property that I've managed for the past 13 years. The property is in a trust (I am one of three trustees with my brothers) and we'll be doing a 1031 exchange into a DST. Property is located in the Bensonhurst section of Broo...
In both Brooklyn and Queens, I see apartment buildings like this one - https://www.zillow.com/homedetails/695-Meeker-Ave-6-Brooklyn... - which seem like a reasonable price for the area. This one is 1.1M for a 6 unit apartment building, in the area typically a solo 2 bedroom condo is in the 1-2M r...
Hi everyone — glad to finally join the community here. Quick background: I've spent the last 20 years building single-family homes for sale in NY state. I've delivered 50 homes, handling each project from land acquisition through permitting, construction, and sale. My average margin across projec...
Hi Everyone, I am a 29 M based in Manhattan looking to invest out of state. I am particularly eye-balling the Atlanta or Orlando markets for my first investment. My long-term goal is to build a stable portfolio that will give me the ability to draw on the equity in 10+ years (sooner if possible) ...
Hello, my name is Todd and I'm new to all of this. While I'm hoping to close on a 3 unit LTR in Hudson Valley, I'm having no luck finding a potential property manager. I'd have no problem expanding my search geographically for a multi unit LTR if I can find a good manager. Any ideas how I can go ...
To all remote real estate investors purchasing outside of where you live - when you find some interesting properties online and the numbers (rent comps, taxes) seem to work out, what do you do next? Do you travel there to view? Basically how do you “verify” the condition of the property that’s no...
Ask ten investors why they avoid New York City and you’ll probably hear the same answers: “The prices are too high. The cap rates are too low. I can get better cash flow somewhere else.” They’re not wrong, but are they measuring only one part of the return? One of the most common criticisms of Ne...
Are there groups of investors that invest in either rentals or rehabs? How would I find these groups other than the REIA and there typically a minimum amount for entry and what is it?
I’m looking for honest feedback from people who have invested passively, partnered as capital, or evaluated small multifamily/JV structures. Most passive real estate investing conversations seem to center around syndications, funds, or larger operators. I’m curious how investors think about the s...
My building in NYC just experienced a minor fire. The fire seems to have started from an AC that a tenant installed. This is my first time dealing with something like this, but thankfully, everyone is safe. It seems like the sprinkler system was able to put out the fire before FDNY arrived. When ...
I’m curious what other investors and lenders have seen here. Once an investor accepts a quote, what is usually the biggest issue that causes the loan to get delayed, restructured, or fall apart? Is it typically: The appraisal or ARV coming in low Title issues Borrower credit or background Not eno...
Imagine you're getting ready to sell your property, refinance your mortgage, renovate, or pull a new NYC construction permit. Everything appears to be in order—until someone discovers an open NYC Department of Buildings (DOB) permit or permit application from years ago that nobody knew still exis...
Hey BP Community! 👋 I see a lot of investors in the forums asking how to pull cash out of a stabilized rental without running into the strict debt-to-income (DTI) walls of conventional underwriting. I wanted to break down a recent DSCR (Debt Service Coverage Ratio) refinance scenario we worked th...
Seller financing lets you buy a property without ever qualifying at a bank. When a seller owns a property outright (or has strong equity), they can act as the lender — you make monthly payments directly to them instead of to a mortgage company. The down payment, interest rate, and loan length are...
I’d like to help my parents create a Will, trust, etc. does anyone have any recommendations for estate planning lawyer on the tristate, lower Hudson valley area? More specifically Rockland County
Folks - it's possible we create a special needs trust (either at death or during lifetime) but I need to research that well first. Child's only 7 yrs old so a while to go but you never know what life brings on so we may set one up with minimal funding for now. My main - is VOO better suited than ...
So Real Estate = location, location, location... I consider a 4-unit brownstone in New York City. The location is great, but the property owes huge tax and building violation penalties. There is no tax lien though - the current owner makes some min payments, but there is Stop Work order from the ...
hello group, I am back again seeking new direction and guidance. Through the help of this forum, I currently own 3 single family homes out of the state and i currently live in NY tristate area. I am interested in pursuing turn key 6-12 unit apartment complex building. Open to locations. Ideal pre...
Hi, We're considering trying to buy a multi unit that's owner occupied (our primary residence) here in nyc. We're handy and we own a few properties in Baltimore so comfortable with tenants. But a few hurdles we're trying to explore here in nyc - most of the properties we're finding are 6+ units. ...
My husband and I are in our mid-50s and planning to retire in about 10 years. We've lived in Chicago for the past 30 years, but both of our children now live in Manhattan. Recently, I've been considering buying a one-bedroom co-op in Manhattan (under $500,000) as a second home. Ideally, it would ...
BP, I've been on a long search for technology and applications that allow me to automate parts of the tenant journey (leads, apt tours, screening, rent collection...). I don't see any reliable apps that focus on handling maintenance requests for small multifamily owners (2-4 units). I have only s...
Is this legit? Anyone have experience with it? What's the cost?
Good afternoon, I have a leak coming from the roof of a 3-family apartment building in Brooklyn. Does anyone know any qualified roofers?
Hey everyone, I just joined BiggerPockets and wanted to introduce myself, but more importantly, ask for some candid advice from the people in the trenches. I recently started working as an AE/originator for a direct private lender. We fund residential flips, DSCR, and ground-up builds nationwide ...