All Forum Posts by: Amit Kal

Unless you think this one has great appreciation potential in the next couple of years, it doesn't seem like a winning deal at $135k.

At $90k + $20k in renovations, the numbers make more sense. 

Perhaps this is one you can put under contract for a good price and wholesale to an investor like me. =)

BTW, the Queens market continues to rise - pretty incredible 

http://ny.curbed.com/2016/10/13/13257034/brooklyn-...

I have been shifting to lower rent properties. Instead of buying another SFH for 150k, that would rent for $1550, I'm picking up a quadplex for $310k that rents out for $800 a door in the same hood that the $1550 SFH sits. There is always a market for $800 apartments, even during rougher times. This will hopefully provide some insulation during a pull back in the rental market.

@Jason Yi great story, thank you for sharing!

@Priscila Parra i really like Ridgewood, especially if you are within 3-4 blocks of a subway stop. My favorite multi-family buildings are the Mathews Flats in the Ridgewood North and South Historic Districts. 

Maspeth lacks subway access so I'm not a big fan. Rather, I would seek out Woodside or Elmhurst over Maspeth. 

Michael Charles since you live in LIC and exploring in Brooklyn, I'm sure you know that the L train will be out of commission for about two years. That's going to redirect a lot of folks over to Western Queens in neighborhood such is Sunnyside, Woodside Jackson Heights, Corona and Elmhurst. Prices are already high in these neighborhoods but several hundred dollars less per square foot than equivalent areas in Brooklyn. I think the spread between Brooklyn and Queens will decrease quite drastically over the next 3 to 5 years. You could probably find a two or three family in Woodside that needs work (but would still qualify for FHA) for about $600K. Good luck!

@Ramesh Ramdatt any updates on your end on your plans to invest in Queens? I believe choice parts of Western Queens will see some huge YoY gains over the next 24-36 months. Happy to discuss more. 

Partner up maybe? I invest in Nashville too, and it's what I've done to keep the deals flowing. Currently closing one unit every 2-3 months, but it's slowed down quite a bit the last few months. We are hoping things pick back up now that prime buying season has passed. If you want to chat offline to throw around some ideas, I'm game.

I'm also an investor in Nashville however I live out of state.  It is quite a competitive market and  prices have gone up pretty quickly over the last few years.  Finding "deals" are kind of like finding four leaf clover's nowadays.  They are out there but you really have to put in the time and effort. 

Welcome to BP and happy to answer any other questions you might have. 

Often. But it's not totally unseen. I get photos, many, before I make an offer. I get my property manager so swing by and take a look at the exterior, assess condition and rentability. I get an inspection done.