All Forum Posts by: Brian Kehoe

Thanks Chaim that's what I'm now leaning towards. Doesn't make sense to take the loss as long as I can manage to have the rents cover the mortgage. 

The house is in the sheepshead Bay Area. South Brooklyn got hit bad with Sandy and the area is less desirable than those mentioned due to the long travel time to Manhattan. 

Both good points. I remember seeing somewhere about spraying foam between the joists but I don't think that would help the sound from the running around. My worry is the kids are very small now (4 and under) and I know the noise will get worse as they get bigger. Its already pretty bad but it doesn't bother me because they're paying my mortgage. Have you ever had to evict a tenant because they were too loud. I know they can't afford much more rent so I could try to price them out but I really don't want to go that route. 

I'm curious if anybody has ever had an existing apartment soundproofed before? If so how was the process and was it worth it or not. I have a great tenant with three young kids who lives above me. You can hear a good amount of noise from the kids running around. I know kids are heavy footed and it would be next to impossible to not hear them. My dilemma is I'm looking to move out soon and buy another multi family but I'm worried about not being able to find somebody who wants to live below three young kids. They're great tenants, always pay on time and never bother me at all I would hate to lose them. So I'm wondering if investing in some type of soundproofing would be a good idea or not.

Welcome Rashad. Like Troy said bigger pockets is a wealth of knowledge. The people here are extremely helpful and will be glad to help you with any questions you have along the way. 

I feel like the taxes in the city are more consistent and usually don't jump up to much from year to year. Some places in Long Island taxes can increase greatly almost on a yearly basis. 

My first tenants lease expired last month. It was just a simple generic lease from staples. I've since learned so much from bigger pockets and I really want to get a more detailed lease that I can edit in the future if there's anything I want to add to it. Where do you guys get your leases do you make them up yourselves or is there a program or something I can download online? This website is such a wealth of knowledge and has me already thinking about my next property. I'm currently house hacking and hoping to making an upgrade soon as my family is growing fast lol 

Originally posted by @Matt Lane:

Hi @Brian Kehoe

We are experienced developers and have done just that.  Assuming you have the proper zoning and lot dimensions it is definitely possible however not the simplest process for a novice to take on by themselves.  Navigating NYC building regulations and code enforcement exhausting and very frustrating especially if you plan to GC your build.  If you have no experience building then i would hire an experience builder/general contractor to do the job for you, this will save you a lot of aggravation and frustration however it will cost you more.

A few things to consider

- How do you intend to pay for the development?  Do you have the money or are you going to take out a construction loan?  If you're taking out a construction loan you will definitely need to go with an experienced GC

- Expect the subdivision, plan approval and development process to realistically take 18-24 months.  There will be others who will tell you that it will be shorter but DOB is very busy and moving very slow with permits and approvals even when using an expediter.

- Have you considered subdividing the land and selling it to an experienced developer?  Thus us a faster way to make a profit and will cost less money, time and aggravation for you

Hope i was helpful, feel free to message me if you have any questions

 Thanks for the info @Matt Lane. Now I see why people were telling me it would be a headache. Sounds like you definitely need to be involved with the right people to make it happen. I knew the city was slow but 18-24 months for is just ridiculous. I know of people nearby with similar properties as mine who have built on theirs so I'm assuming it must be possible. I'd be looking to do this in a year or two as I'm waiting for some additional funds but I will keep you in mind. Thanks for your input. 

I currently own a multifamily house on a double lot in Brooklyn NY. I'm thinking I would like to build another multifamily in the adjoining lot but I'm hearing from a lot of people that it may be more of a headache than it's worth. Has anyone ever built a rental from scratch and how was the experience?

Vincent Crane I'm curious could you tell me an area to look in where I can get a property for 60k and rent it for $1200. Those numbers seem almost to good to be true. I'm starting to look for some properties but I live in Brooklyn NY and know this isn't the best market.