All Forum Posts by: Harold Looney

Colin Mills - Welcome. I've house-hacked in Bayridge Brooklyn for over 16 years. Feel free to DM and I'll share my experiences.

Kimberly Bunch - Welcome and congrats on your success! Are you familiar with the STR restrictions in NYC? I do MTR in NYC to avoid all that drama.

Drilon Haxhaj - I use Michael Blanks Syndicated Deal Analyzer to evaluate Multifamily deals - https://themichaelblank.com/sy...

Quote from @Jonathan R McLaughlin:

What about condoing and selling half the duplex? Now you would have no debt, next to no mortgage cost depending on how you structure it, a secure primary and presumably some cash to work with. 

@Jonathan R McLaughlin - can you share any examples where 1/2 NYC Duplexes were sold as condos?

Malcolm Ring - if you are interested in living in Brooklyn for at least 3-4 years, a more creative approach is to JV with a Small Multifamily Owner who desires a live-in property manager/co-owner and is willing to buy-out your equity back in a few years. This could at least decrease your overall cost to live in Brooklyn and you can participate in the appreciation instead of just giving rent money to your landlord. DM if you want to discuss further.

JV Hilario - I'm a 2 Unit Owner in Bayridge Brooklyn looking to expand my NYC portfolio. Let's connect via DM.

Justin Rush - congratulations! Keep up posted.

Elya Pollak - I applaud your assertiveness in seeking opportunities to gain more Real Estate experience. DM if you want to discuss further.

Quote from @Dustin Travis Ray:

Always good advice from Legendary Luke!

I guess what I was going for was that I know it can be a cash flow killer a lot of times to have a monthly expense for property management. But if you didn’t need around the year management is there another option? What if there was a service for isolated events? Emergency stop ins from someone close and local, end of year remodels involving multiple subcontractors (for bigger projects than what a handyman can handle). 
And maybe that’s the answer - there’s no real need for that. Just fishing for ideas. 

Love the podcast Luke! Keep it up!

As a Small Multifamily Remote Landlord in NYC, I agree with @Dustin Travis Ray that it would be nice to have a service that could handle isolated events like emergencies and projects that require multiple contractors. 

The quality NYC GCs aren't interested in these smaller projects. Also, I don't require the year-round PM service because I can find tenants and collect rent myself.

I'll respond via DM. The BiggerPockets bot doesn't like when we talk about specifics