All Forum Posts by: Daniel Lee

Hey Tyler,

It is possible but would limit your lending options. Most of the major banks do not finance to properties owned in an LLC. You can inquire at a small local bank or hard money but most likely would not get as good of a rate / terms.

I would talk to a local loan officers in the area and see what your options are available.

Daniel Lee

Vice President

Residential & Mixed Use & Small Multi-Family Lending

NMLSR ID 64756

Flushing Bank

220 RXR Plaza

Uniondale, NY 11556

Tel: 718-593-8067

Fax: 718-961-0055

Email: [email protected]

@Mark Allen would love a copy sample of your pitchbook as well. Can you please send to me?

Will any of the units be delivered vacant? I agree with  @Jaysen Medhurst on both points. I am also interested to hear from the community regarding investing in Rent Stabilized multi-family especially since the majority of MF in NYC is rent stabilized.

@Matthew Greco 

Welcome to BP. I just started re-reading Rich Dad Poor Dad. I still remember how it blew my mind when I first read it 10 years ago. 

Best of luck @Account Closed. Let us know how it goes!

please add me as well!

HI @Amit Kal, thanks for the warm response. It is currently considered a primary residence. I owe $700k and the value is around ~$950k. I'm not too sure about the value yet because the interior still needs a lot of work. I'm looking into a HELOC to pull out equity.

Hey Dan. I am also a new BP member as well as from NYC. I have a feeling that my next property will most likely be outside of NYC.

Best of luck in your real estate journey!

-Dan 2 from New York

Hi Everyone, excited to be part of the community. After being 10+ years in the real estate industry, I finally pulled the trigger and purchased a duplex in Queens last year. Honestly, this deal fell into my lap( Parent's landlord for 20+ years) so it was not like I was actively looking and analyzing deals.

Now that I have some equity, I'm looking to cash out and keep the momentum going. Interested in knowing what strategies other investors in NYC are employing. It seems that most investors are looking to buy out of state due to the high prices in NY.

Curious to see if areas such as the Jamaica,Bronx, East NY, Staten Island, Jersey City, etc are good areas to invest in.