All Forum Posts by: Kara Leboeuf

Welcome Matt! Are you just interested in Albany or looking all around the capital region? There are a few local REI meetings that would be a great place to network.

A link to the official legislation would be helpful because I believe people are getting mixed messages from different sources. 

Originally posted by @Driton Selimaj:

I’m looking to get a 6-10 unit , 30-40% down , and hopefully cash flow , just curious about the market upstate

What part of upstate are you interested in?

Its very hard to do, since there is a bond made between each plank. try taking a heat gun to it and trying to remove very slowly. Also have a backup plan..

@William Coet well it is New York State so...

@Dylan Mejo

Have you tried Glens Falls National?

I look forward to this meetup! I recently moved back to the area and I’m excited to make some connections and do some deals.

Cale Myrick I’m in Norfolk and would love to partner on something. Get ahold if you are interested.

Christian Drake it’s a single family Home. It was rebuilt about 5 years ago so hopefully low capex and maintenance for the first few years. And no the taxes are not escrowed, it’s 1112 for P/I then 225 a month for taxes then approx $75 a month for insurance, etc. My only idea, because the house is a 4/3 I could rent it out to 4 military persons and get a higher rent, but I’m not sure the rules on that in my area.

This is my first seller finance deal, so I’m not really sure how to evaluate it. It is located in Norfolk Virginia, in a nice neighborhood, 4 minuets from the beach, right across the street from another rental of mine. My neighbor is attempting to sell it. It has been on the market for some time now and is not selling. I approached him about selling it to me and holding the note. He is interested. Now I’m trying to figure out how much to offer. He is asking $270k and owes $225. The house would be a buy and hold for me. Market rents are about 1700-1800 a moth. His P/I payment is $1112. Taxes run $2700 a year. The house needs about $1500 to be rent ready. What should I offer? I can only afford a small down payment right now, approximately 5k. I was thinking 75-100 a month over his P/I a month and then buy him out with a refi after 4-5 years with a conventional loan? Again, This is my first seller finance and evaluating it has really stumped me. Thanks for any input!