All Forum Posts by: Tony Sas

While I'm not new to RE investing, I haven't done anything in a while and I'm ready to go. My wife and I bought our 1st property(a 2 family) in 1998 and have rented it since that time never living in it. We cashed out on that property 2 times to help finance the building of our primary residence in 03-04. The rental property is currently breaking even, which leads me to believe I should do something to generate a cash flow. The rental property is in a great area of Queens, NY, so I am reluctant to sell especially in the current market. The rental still has a considerable amount of equity that I can pull out to do something else. The something else I'm not sure of(20% down rental properties do not cash flow in this area and I'm not crazy about going out of state, flipping is a possibility, since I have experience with building) This site has so much great information, thanks for having me.

Wheatie,
Thanks for the reply. My monthly income is 3350.(This property is in NYC) My Mortgage, tax and insurance totals 2800. The extra 550 goes to utilities and anything else that arises, so I probably come out ahead, but not by much.

I currently own a 2 family worth 625K, that I owe 310K. I rent out both apartments and break even after all expenses. (I have cashed out twice on this property to buy and build my primary residence). With the market the way it is, I feel like there are some deals out there. The 2 family is in a very good area. I can sell this property and buy 8 properties(putting down 20%) out of state and potentially have a 500-800 monthly positive cash flow on each property. Any advice would be greatly appreciated.

I currently own a 2 family worth 650K, that I owe 310K. I rent out both apartments and break even after all expenses. (I have cashed out twice on this property to buy and build my primary residence). With the market the way it is, I feel like there are some deals out there. The 2 family is in a very good area. I can sell this property and buy 5 properties(putting down 20%) in not so good areas and potentially have a 300-500 monthly positive cash flow on each property. Any advice would be greatly appreciated.