All Forum Posts by: Scott Wolf

Hi @Daniel D., congrats on joining and learning!  $400k may not be much in the 5 boros, but there are definitely properties in those price ranges.  Is there a reason you're focused on Queens & LI? Is that where your work is?

You should also look into Yonkers, New Rochelle, and some of the Jersey river side towns.

Best of luck in your search!

@Yoribaldis Olivo, what do you do that you will only be there for a short time?  

If @Shirley R. is right about Glastonbury, maybe buy the worst house on the best block, and by the time you leave the built up equity will help you succeed in you RE goals, instead of renting.

Never spend the principal

How does that work if it's a partnership? Is the holding LLC the named owner for your share? ie. XYZ properties is your holding llc, is XYZ properties named as partner in 123 Main Street LLC?

streeteasy.com is the best NYC listing service.  Outside of that, I would recommend a broker, but you may need to pay a fee.

For a national tenant, sometimes the rent is guaranteed for the term of the lease by the corporation.  for example, a Dollar General will have it's lease guaranteed, so even if the tenant leaves, you will still get your rent.

Hi @James Xie, industrial is a very hot property type right now.  Depending on the location, and strength of the tenant, this could be a good investment.  Is there a corporate guaranty on the property?  If so, this could make it a very good deal.

Hi Brandon, please add me to your NY Buyer's list [email protected]

Hi @Jason Foxx, how did you obtain your license?  If it was through NYREI or a similar school, they have placement programs that you can use.  If you're doing RE part time, what will be your full-time gig?

A lot of the major brokerages will not hold a part-time license, but you can check The Real Deal for info on brokerages or REBNY, to find firms.

Best of luck on the move to Florida! I have lots of friends in the Delray-Boca area.  As an outsider, it seems anywhere from West Palm Beach down to Miami should have plenty of demand for rentals.