All Forum Posts by: James Wheelock

I would also add that for simplicity sake of a tenant having the heat and electric on one bill it is easier when it does come to turnover it's less utilities to switch over for new tenants coming in.

Personally I'd look at financing a larger apartment complex. With low interest rates it's all about leverage to me. Maybe don't tip your hand to new investors on a forum. Seek someone with experience and partner, don't eat up all your savings, keep reserves. Merry Christmas Eve to you as well!

Tom Chen I am located in Utica ny, which is down the thruway from Utica about 45 minutes. I don't have a large knowledge of the Syracuse area but do have a nice setup in Utica with property management, and a good handy man/maintenance guy who I believe does travel to Syracuse. I could refer you to him and also a very good property inspector in the Utica area if you are interested.

As far as I know there's no ordinance for times of plowing. I have tenants who are nurses, aids etc. that work crazy hours so I'd prefer a plow come early. We live in upstate NY lol it's more of a safety concern than anything I would think.

Don Konipol Understand I'm not disagreeing with you. I said the numbers he suggested were not accurate. I simply meant that deals (Apartment complexes) have been acquired creatively, not just traditionally through a lending institution. It's been done, and yes I personally have seen those deals take place and I've sat down with investors and been shown the numbers on how they were acquired. Nor am I claiming to know more than someone who has 40 years in the business. As for the Gen x statement, eh maybe it was a low blow. Sorry. I hate the stereotype that millennials are lazy freeloaders, I work my butt off! Bottom line, were all here to learn from one another. Good Day

Well this thread got kinda negative there in a hurry. So while they are right in saying there are financing issues with these numbers. Is no reason to be put down by a "Generation x" style thought process. In fact it's that generation that obliterated the economy, thus making it that much harder to make this a reality. Nonetheless, rich dad poor dad is a great book. It's a motivational, self help book. So like anything else in life, it's what you do with the info from that point. The book itself won't make you rich, it's what you do in your spare time that makes you rich. If someone buys wasteful courses that's their choice, but nobody forces you to spend $40,000, you make the conscious decision to do that. And to answer your original question that I don't think anyone actually answered for you. Yes these deals have been done, they close every day. And my thoughts are that we have to just go out and find these deals despite naysayers. Cheers!

Hey James. I am also near Utica. What do you mainly deal with mulit's, single family's, or are you into commercial deals? I am trying to build a portfolio of mulit's right now while I am young. Feel free to send me a message, would love to hear what you do.

Hello Daniel, welcome to bigger pockets. I own/manage units in Utica, and know the market very well. If you would like to discuss some things I would be happy to. Send me a message.

Hey Tim, I own a four unit in south Utica. We should connect. Feel free to message me.

Welcome Chris McCall I would be very interested to hear your technique in negotiating owner financing on bigger properties. As I am looking to do the same on a fairly large property.