All Forum Posts by: Michael Beinetti

@Marylynn B. Rochester NY is a great market.  I'm partial b/c I live here as well as invest here.  The rental market is steady and provides great variety depending on what your investing strategies are.  As far as property management, I use a company that has been phenomenal.  I had a hard time finding a company that would work well for me as I'm so heavy on the trust factor - I've been very pleased with the level of integrity in my experience.

@Larry Turowski Thanks for sharing.  This is an excellent find and follow through!

@Brandon Turner @Joshua Dorkin A legit milestone! Congrats. No looking back!

@Brittany Tucker My gut reaction to your most recent post...finish the program and get the certificate.  

During the year it is going to take to finish your program/certification you can spend time reading, listening to podcasts, asking questions, making connections, and digging deeper into the world of REI. Some good tips were already mentioned in this thread and I think if you dedicate "free time" while working on your current pursuit, you'll do well.

Welcome to BP!

@Larry Turowski One of 9!  I love it!  Thanks for the continued evaluation.  I'm in complete agreement.  It has solidified what my gut was telling me.  Being my first property it has been a little harder to look through the objective lens.  This has helped immensely.

@Rebecca Lebowitz Upper Monroe.  The backyard is Pinnacle Hill.  :-)  

The 1 br is in a good place rent-wise...it's the upstairs that needs to go up.  I'll get it there!

@Barry Cohen I agree.  I think the most important thing to do is run the numbers and see what makes the most sense.  If the numbers don't work...I'll keep it as is with the rent increase.  Thanks for your input.

@Jon Holdman @Jeff Valentino 

I appreciate it.  Frankly.  The clearest message I wanted to hear was to hold it.  It really is a great place and the values in the area are continuing to creep up (one of the few areas of this city) which adds value down the road.

@Jeff Valentino Hey! Thanks...I have a 30yr FHA at 5.875 on the property. Selling would be my cash out option. I'm not looking to cash out with a refi. It was more of a "should I stay or should I go" (sell vs. hold) scenario.

Excellent input all the way around - @Mike Hurney @Bob E. @Shannon Sadik @Elizabeth Colegrove 

My inclination has been to hold it and make the improvement as well as get the rents where they need to be.  Selling it would net me the most cash therefore giving me the ability to move on another deal or two.  There are other ways to do that so selling it is not mandated in this scenario.  

A refi to the 15 or 20 year term will be a part of the near future as it makes sound sense.

I really appreciate the input and will update down the road!!

Just curious...if you are in NY.  Why FL for your investing?