All Forum Posts by: Lawrence L.

@James LaPosta Welcome to BP.....

Read read read.... Books by @Brandon Turner.....Millonaire Real Estate Investor........Building Wealth One House At A Time......Rich Dad Poor Dad.....Thou Shall Prosper Ten Commandments For Making Money....

Keep on listening to the podcasts and then listen to them again!!! You are going to hear something you did not hear the first time.

Network on the forums and at meetups throughout the tri- state area. You can find meet ups when you go to meetup.com. There will be one in the Bronx next month July 13 run by Cesar Rosas. Come on out.

Happy Investing 

See You At The Top

@Tzvi Balsam I would definitely agree with Ceasar.....repeat.... run the numbers using the buy and hold calculator on the BP website to run the numbers and see if they work for your investing needs. I always put my expense numbers a little higher like the fuel definatly will be higher for a 5 unit unless everyone has control of their own heat. Question how old is the building, have you seen it, has there been any major repairs done or  need to be done.Is it located in the lower Bronx 167th st Grand concourse area down to 138 and the Concourse correct me if Im wrong 3 blocks East or West of the Concourse What is the layout is it 5 3BRs or 3 2Brs and 2 3BRs...... 

Happy Investing....See You At The Top 

@Albert Smolinski

Hey Albert....First yes you compare it to an apartment because apartments are residential units no matter if it is 100 unit building or a triplex.

You can do a few things to see what the rents are in your  area 

1. Craig's Lists

2. Rent- o- Meter

3. Look in your local paper to see what others are charging for the same layout 

4. Go to your local REIA or meetups and ask what others are charging.

SEE YOU AT THE TOP

@David S.

How is it going...The Bronx is up next!!! Grand Concourse from 149 to 170  3 to 5 blocks east and west.....Yonkers is not bad either. If you drive this is a good weekend to do a drive around to some the areas in the Bronx and Yonkers. Mount Vernon is nice but the taxes are high.

Happy Investing

@Stephen Hundley

When you are doing any renovations do always give yourself a 2 month deadline?

@Stephen Hundley

What was your timeline for any renovations you have done? Way to go....Really awesome job!!!!! Stay Blessed

@Account Closed

Thanks for the podcast list...

@Mike Dymski

Thank you for the info......Very much appreciated.  

@Eric Schleif

Good morning....What is a bridge loan , agency loan how do they work. 

@Omar Sanchez

Hey Omar how Is it going......

Go to rentometer.com.... Plug in the address and it will give you a average of rents in the area. You can also go to Craig's list and look at apts for rent and you can see what kind of rents are being charged for 1,2,3,  and 4 bedroom apts. For a 2 BR in the lower Bronx 1500 to 1650 is about average.