All Forum Posts by: Andrew T.

Hi @Robyn Henderson, 

I also own a steam-heated Brooklyn brownstone. 

My boiler is newer (15 years) but as it has been mostly tenants living on the ground floor, the boiler has been flushed only every few years and has worked fine. This is certainly not recommended - I have had plumbers recommend I do it every other week! But if you put in a newer steam boiler, your tenant should be able to flush it less frequently or you could stop by every month/couple of months to do it. It also helps if you have a plumber service your boiler once a year. 

Best,

Andrew

Hey @Ryan Clancy, I bought a fixer upper multifamily brownstone in Brooklyn last year, and am house hacking it. I can send you the name of my real estate agent who understands the investment market and who I trust. 

The market is really high right now so very hard to find the right deal in our area. Though clearly I support your strategy! 

Hi @Stephanie Sicard, 

Sounds like you have a great outlook. I vote multifamily over condo if you can make the numbers work! Own your whole property and create your own upside.

Just wanted to add one thought that has not been discussed much - immediate vacancy. For either option, be sure you have a real sense of whether or not you will be able to get a tenant in ASAP/keep existing tenants. If you need time to renovate or it is a slow rental market, factor those months' mortgage payments into your equation.  Two+ months of vacancy can be dangerous if you have no cushion left after closing. 

Good luck!

Andrew