All Forum Posts by: Jason Gerasia

Alex - Thanks for the reply and insight.  I was wondering more about a steel type of rail system, something like what you might see in a high-rise condo building.  Do you have any experience with that sort of system?  See here: 

http://www.atr-technologies.com/Products/Cable_Rai...

Can anyone provide insight into a good rail system for a roof area that is going to be tenant friendly? I had a wood deck on a flat rubber roof that needed to be removed to replace the roof. Unfortunately, the cost of replacing the roof and installing a new wood deck (would require expensive permits, a lift for materials, material + labor cost) was going to be too much so I found another solution.  Very thick, sturdy "pads" I can put down on the roof, which would be strong enough to endure any small parties my tenants might throw on this roof-deck area.  See a link for the pads I'm considering below.  I've also attached a picture of the roof and where I would need the rail system.  I need to make sure it is sturdy and secure enough to support a person leaning against it so I don't have to worry (too much) about someone falling off the roof.

I'm hoping the rail system does not need to be fastened or screwed into the roof as to avoid any damage to the roof, which would create a potential for water leaks.  I needed to replace the roof due to leaks, so I am hoping this latest roof last me 20 years or so.  Any help is appreciated.  Thank you

http://www.bestmaterials.com/detail.aspx?ID=19067&...

Good for you Aidan, you're off to a great start.  I invest in the Albany area, if you have any questions feel free to reach out.

I invest in Albany, particularly Center Square, but I am living in Queens.  I am in CT. for business pretty often as well as White Plains.  Let me know if you'd like to get together and connect sometime.

Welcome

I'm from and I invest in the Albany area while currently living in NYC. The most important thing you need to know in Albany, as well as anywhere when investing from afar is the local area in which you are investing. I know the Albany/Colonie area very well. I cash flow nicely in the Center Square area of Albany with multis, but multis come at a premium down there, and SFH are more doable in Colonie/Cohoes areas like the others have said.

If you have any questions feel free to reach out.

That helps. Thank you!

Can anyone tell me what the laws are around tenant security deposits in the state of NY? For example, is there a recommended account for holding? Also, what do I have to do with the interest earned if keeping the monies in a savings Account? 

I am looking for information on private lenders and private lending.  How to go about finding a private lender? The process of working with a private lender? and the pros and cons of working with a private lender? Can anyone help or point me in the direction of a good resource?

Thank you.

Hi Rob - I did not have any issues, but I did replace the roof not more than 3 years ago.  I also have an agreement with a tenant to shovel when it snows for a portion off of his rent.  I would just make sure you have an up-to-date roof and a snow removal and maintenance plan.  

Thank you.  George, it would be nice to connect, I don't know a whole lot about the Manhattan market, other than it is expensive and competitive.