All Forum Posts by: Dan Mcguire

Currently own SFH, but no small apartments. Would like to expand if the deal makes sense, but Long Island is tough. Lookg ing at these numbers with an asking price of $1.3 million, current owner has owned for 5 years and purchased for $870k. I think its a bit over priced, but again I'm use to analyzing SFH and smaller units comparison to a small apartment building. Looking for some feedback.

Annual Income: $114,060.00

Store: $2200

Apt. A: $1500

Apt. B: $1425

Apt. C: $1365

Apt. D: $1675

Apt. E: $1340

Average Expenses : $33,700

Taxes: $19,000

Electric: $4,800

Heating Oil: $4,600
Water: $600
Insurance: $4,700



New Boiler
New Oil Tanks
Certified fill of old in ground oil tank
New Fire Alarm Panel
New Circuit breaker panels
New PSEG Meters

@Steven C kelly I do an in home inspection. This tells me what my property will look like in 6 months.

Do you have a contact at the bank?

Looking for suggestion or experiences on recent refinance rates for investment properties. Looking to possible do a straight refinance and maybe one cash out. Any help is appreciated. 

Section 8 can be good or bad depending on the tenants. I have several section 8 tenants and learned early the needed screening requirements. Always, do a home visit of their current home, by surprise. This is exactly what your home will look like. I had one tenant I didn't follow my own procedure and it caused me more work. Not terrible, but below my standards. 

As an investor and realtor on Long Island the market is crazy. Homes are selling with multiple offers over asking. 

Can you share the lender? Looking for a good cash out refinance deal. 

I will send my tenants an entail or text with 24/48 hours notice. If needed, they can schedule a few days later within reason. After a few inspections you get to know the tenants who are a concern.

Investor and realtor on Long Island. The market is hoping,but it also depends on what your looking for. Long Island has many different niches that one can invest in. Flip and sell or buy and hold. Rentals are hot too and builds long-term wealth instead of short term income. What part of Long Island as that can be a determining factor too?

@James Santana yes, let me know what your looking to do?