All Forum Posts by: Carson T.

Quote from @Quentin Thiery:

Quote from @Carson T.:

Quote from @Quentin Thiery:

Quote from @Carson T.:

@Quentin Thiery I definitely recommend the Capital Region! I closed on my first househack in Cohoes (county of Albany) last summer at the height of the market. The building was a triplex and cashflowed while I was occupying!

House hacking is very doable in Albany, Troy, and Schenectady and will more times than not cover your whole mortgage payment. 

I am from Long Island where everything is much more expensive and much newer. All the property I own in the Capital Region is over 100 years old. Some people will say this opens you up to risk and high maintenance costs, but this provides so much opportunity for value-add updating. 

Plus the buildings in this region can be so beautiful. There's nothing like restoring an old Victorian home to its former glory.

@Carson T. Totally feel you! I'm in Miami right now and while beautiful, every building looks more or less the same. Found that in many cities to be honest. You gotta love the NorthEast because those buildings can have some character. I'll definitely look into the upstate region especially since you and many others seem to be recommending it. Did you have to do a lot or some rehabbing/cosmetic work while you lived there?

No rehab on that one at all! Completely turn-key and a cash-flowing monster. If I had to do it again, I'd probably choose something with more value add opportunities. 

If you're looking for your first property, something turn key is honestly not the end of the world. The last thing you want is to get over your head in rehab while navigating the process for the first time. Buying a turnkey property gave me the confidence to dive into more complicated projects later. 

 @Carson T. Wow that's great! Yeah turnkey would be amazing - what was your process for finding that deal? I feel like the turnkey deals are harder to come by and make work given the circumstances. You would still choose a property with more value add work needing to be done (and maybe more headaches) even though you have a cash flowing monster with barely any work? What am i missing? Looking forward to hearing from you about your experiences and how you found a turnkey property

Yeah good point! I was very fortunate. It’s a great property in a great neighborhood, and I’m able to provide great quality housing to great people. 

Let me know when you decide to pull the trigger on the region!

Quote from @Quentin Thiery:

Quote from @Carson T.:

@Quentin Thiery I definitely recommend the Capital Region! I closed on my first househack in Cohoes (county of Albany) last summer at the height of the market. The building was a triplex and cashflowed while I was occupying!

House hacking is very doable in Albany, Troy, and Schenectady and will more times than not cover your whole mortgage payment. 

I am from Long Island where everything is much more expensive and much newer. All the property I own in the Capital Region is over 100 years old. Some people will say this opens you up to risk and high maintenance costs, but this provides so much opportunity for value-add updating. 

Plus the buildings in this region can be so beautiful. There's nothing like restoring an old Victorian home to its former glory.

@Carson T. Totally feel you! I'm in Miami right now and while beautiful, every building looks more or less the same. Found that in many cities to be honest. You gotta love the NorthEast because those buildings can have some character. I'll definitely look into the upstate region especially since you and many others seem to be recommending it. Did you have to do a lot or some rehabbing/cosmetic work while you lived there?

No rehab on that one at all! Completely turn-key and a cash-flowing monster. If I had to do it again, I'd probably choose something with more value add opportunities. 

If you're looking for your first property, something turn key is honestly not the end of the world. The last thing you want is to get over your head in rehab while navigating the process for the first time. Buying a turnkey property gave me the confidence to dive into more complicated projects later. 

@Quentin Thiery I definitely recommend the Capital Region! I closed on my first househack in Cohoes (county of Albany) last summer at the height of the market. The building was a triplex and cashflowed while I was occupying!

House hacking is very doable in Albany, Troy, and Schenectady and will more times than not cover your whole mortgage payment. 

I am from Long Island where everything is much more expensive and much newer. All the property I own in the Capital Region is over 100 years old. Some people will say this opens you up to risk and high maintenance costs, but this provides so much opportunity for value-add updating. 

Plus the buildings in this region can be so beautiful. There's nothing like restoring an old Victorian home to its former glory.

Thanks @Wesley Sherow! I was, unfortunately, working during that meet-up. I'm definitely open to connecting and will send you a message.

Hi Everyone,

I just closed on my first property, a turn-key triplex in Cohoes. Now I’m looking to expand. 

Now that I have my first purchase under my belt, I think I’m ready for a more involved project where I can add value. 

Does anyone have experience with BRRRR's in the Capital Region and want to connect? I'm talking about Albany, Troy, Schenectady, or Saratoga.

I have a great agent already but want to connect with investors who have experience funding fix and flips and fix to rent projects. Anyone who has any suggestions or connections to hard/private money lenders who will work with a first time investor in this region, please reach out.

I look forward to meeting other investors in the area and building out a team.