All Forum Posts by: George Hermann

Hi Steve, we are in the midst of a COVID-19 crisis and as a result, a financial crisis. Additionally, NY State has restricted landlords options when it comes to tenants. In this environment, I would be very cautious in dealing with a good tenant with years of paying their rent. This said, this is a business for you and considering all options is the right thing to do. I would suggest you consider offering a one year lease and an increase that balances a reasonable increase with the current market. From what you have said, maybe 6% this year would be a good compromise.

Hi Chris, we had about 20 inches last week and are expecting 8 more tomorrow. Nobody will shovel that for free. If he otherwise does a good job I'd say its a good investment to pay the extra the few times we get heavy snow.

Hi Jon, In The Bronx your best target properties for VA financing would be 2 and 3 family homes. The market was very slow till about 4 weeks ago but there have been many new listing opportunities coming up weekly since then. If you want to talk, private message me.

George

Hi Brian, I can't answer your question myself but if you PM me I can refer an attorney who focuses in this market area.

Hi Drew, I know Adam and he will be a great agent for you in Westchester. I specialize in the Bronx, so if that interests you, look up my profile and decide if we should talk.

Shawn, If you want to stay in Manhattan, rent or buy a coop or condo. If you want to house hack and create an investment opportunity, look outside of Manhattan. If you want to consider the Bronx, look at the subway lines that run through the Bronx and Manhattan and look at Metro North which runs through the Bronx and into Grand Central. Check out properties on those corridors.

Good luck!

Hi Shane, I agree with James Perdomo that four family properties are more rare and are on the radar of experienced investors, many with cash offers. I think you will find more opportunities with two and three family houses. 

At this time, contractors are not working in New York. They are considered phase 1 workers and will be allowed back to work on June 7th with a lot of restrictions due to Caronavirus. If you're planning to buy properties that need work, it will cost more and take longer than it did a few months ago.You should factor this into your costs when reviewing opportunities to purchase.

Good luck!

Hi Freda,

I’d be happy to talk to you and help you understand your options. You can look me up here at BP and decide if I might be a good fit for you.

Hi Musammath, I have extensive working knowledge of the Bronx Multi Family market. You can contact me if you would like to talk about the market and your opportunities in it.

I would not recommend Riverdale if you work on the east side. An area like Concourse or others in the Bronx (think near the 6 train) would get you more for your money.