All Forum Posts by: Account Closed

At least 10 Foot separation between water, storm and sewer lines, 18 in vertical separation (OD to OD), if not you must encase piping- generally concrete depending on regulatory agency.

OP, If you have any specific questions and want to message me I am more than happy to answer for you. I am an environmental engineer by day and water and sewer is my wheelhouse. 

Hell of a pipe dream brother, you're brave!  You should really be continuing to work or finding another job that you can perform with said disability. Real estate isn't cheap nor easy.

 I agree with the high taxes. Along with the high taxes is the high water/sewer fees (Which is generally paid by the owner in this area- if unpaid the city will put a lien on your building so it is something to think about- I generally see $190-$220/quarter at my buildings).

Rents are strong- Finding bigger buildings than duplexes in the city is tough- they don't trade hands often. Although, there are an ABUNDANT amount of 2 units throughout. My deals have been off the MLS but there is opportunity out there to find off market deals.

Hi Trevor, 

I’m from Glens Falls and own a few buildings throughout the city. It’s a great market IMO. @Matthew Mason is a Glens falls native and owns a few buildings here as well. We have BP meetings every third Monday of the month at fenimores at the Queensbury Hotel. If you have any questions shoot me a PM. Would love to meet up with a younger hungry investor. 

It is definitely a small market but the area is so stable. The market here is insanely hot right not. Properties are under contract within 3 days. The property prices and rents work so well. I have expanded to surrounding towns but for now I plan on scaling my portfolio here. I have reached out to a few wholesalers with no great luck. 

Patience is key! 

Own it my man. If you're concerned about your age and you want to, just play it off as you're the property manger. 

Not enough properties coming out for sale in my area and the lack of response from mailers. 

John, 

Your situation sounds just like mine 3 years ago. I was in the same position my last year of school, landed my first engineering job at a corporate firm. I elected to move back to my home town in NY as I knew if I was living in a bigger city I would spend much more money. I got an apartment after school with my girlfriend and we decided paying rent sucked. So we got a roommate that covered half of the rent then we split the remaining. I got serious looking for my first duplex and after a year of working I closed on my first property (house hack and brrrr'ed). After that property I bought a conventional investment property at 25% down. Now I am scaling my business in my hometown where prices are reasonable and decided it is better in the long run to stay within my local area. I left the corporate firm and now work for a very small firm about 20 minutes from my house.

I am now 25 and focus all my time after my 9-5 on real estate- Being in engineering you have a knack for construction and it helps in the long run. I was able to learn the hands on skills I drew on CAD everyday on my own properties. The lenders will use you college education and minimal job experience as the "2 year job history" to qualify for your first loan. Assuming your DTI and credit are decent you should have no issues on the financing aspect for your first buy.

You may make a little less in a smaller city/town but you will be able to save more and I think that is super important for landing your first deal.

Don't let lifestyle inflation get to you- you'll see your peers going on vacations, buying cars, financing useless sh*t ect- I fight it everyday. Don't get yourself into that mode. You'll be lightyears in front of your peers if you refrain. Live below your means and stack that cash! I save 90% of my w2 earnings- from the outside I look like I am just scraping by but I am not- it is my choice. 

If you have any questions for a 25 year old that was in your shoes a few years ago shoot me a message, whether it be engineering, first job or first buy. 

Good luck, you will be fine- stay on track and write down your goals everyday.  

 It is because of emperor Cuomo's precious NYC- Ya know, the only place in NY he cares about so he can stay in office. I totally agree with the taxes as a MAJOR expense here in upstate. Our cities failing water and sewer infrastructure really puts a dent on profits too. Our cities are getting interest free loans and putting massive costs on the property owners to pay for this. It is insane. 

Water, sewer and taxes in my area.