All Forum Posts by: Derrick Clark

Hi @Joseph Barthelemy

I’d be happy to help you out. I know the Glens Falls, Johnstown, Gloversville area pretty well. 

I'm investing in the Johnstown area. I'm currently doing a BRRRR in Johnstown with a 2 family. I also have a 2 family and live in Glens Falls.

Feel free to reach out anytime. I’d be happy to help. 

Best,

Derrick

Thanks @Julee Felsman 

I sent you a DM. 

Thanks for the insight @Kenneth Garrett. Just wanted to be sure I wasn't boxing myself in by going the LLC route.

I have a 2 unit property under contract with a cash offer. I plan to cash out refinance in the near future. I have heard that it is much more difficult to cash out refinance if the property is under an LLC because it is considered a commercial property.

What are experienced investors thoughts?

I too am starting to look for buy and hold properties in a rural area close to where I live. I live north of Albany NY. I'm not yet experienced in rural renting I'll admit, but my strategy to circumvent lack of a robust tenant market is to factor in more vacancy into my numbers. From my analysis so far, rural markets seem like they would cash flow better than in some urban areas of NY (or at least in the Capital Region). Especially with higher taxes we have here. So, I think the biggest advantage to buy and hold in a rural area is that the cost of the properties are lower in general. With that said, I'm not familiar with the Buffalo area. I'd look at the cost to buy vs market rent in that area. 

I'd like to introduce myself. I just started a buy and hold investment strategy in the Capital Region NY. I'm looking to network with like minded folks and see where Bigger Pockets takes me.

I've already taken the first plunge and bought a multi-family property, fixed it up a bit and plan on holding it for a while. I'd like to expand my portfolio significantly in the new few years.

I'm looking forward to meeting all types of real estate professionals.

Best