All Forum Posts by: Jerry Quintiliano

Hey everyone!

So I am moving forward towards purchasing my first investment property. It will be a house hacking venture. I was told that in order to approve the loan, the lender will want to see that a tenant has agreed to live at the property and have already given a security deposit.

Has anyone had any experience with this before? Is it difficult to find a tenant before I even own the property??? In other words, why would a potential tenant agree to a lease when I don't even own the property yet?

Any thoughts?

@Account Closed I am looking to house hack, so I wouldn't really see any return at first. I would be picking up part of the cost to fuel that investment since I would be living there. And I am just looking for the best deal I could find. All those areas seem to be yielding a similar return. About 2500 to 2800 for a 3 bedroom unit. 

Hi @Account Closed

I'm seeing most of the better properties in Babylon, Bayshore, Lindenhurst. Maybe a few in Huntington also. 

If I buy a two family home, I would live in the smaller of the two units and rent out the larger. If I buy a single family, It would have to have a small accessory apartment, which I would live in and rent out the larger portion of the house. 

Does anyone have any success stories with house hacking? Specifically long island or down state New York?

Any advice for a new investor? 

Thank you @Scott Wolf!

And yes. I will definitely be house hacking it. 

Hi @John C.

Our firm handles every aspect of real estate transactions. We mostly represent buyers and sellers in residential houses, apartments, condos, and coops. 

And thank you for the offer, but I am mostly interested in Nassau and Suffolk county for my first deal. Although I'll keep Queens on my radar just in case. 

Is it a single family or a multi-family property? It's almost impossible to find a "1%" single family home in New York. But you can accomplish that, or come close to it, with a two family. 

@Abel Curiel

Hi Able!

Thank you for the kind words. My office is located in Forest Hills, on Queens Boulevard. 

If you go into Nassau the prices and taxes are very high. But in west Suffolk County, you can purchase a rental property for a reasonable price, reasonable taxes (by NY standards), and you can still fetch a strong rental income because you're close to Nassau County which has high salary earners.