All Forum Posts by: Yacine Rimmo

Hum no make that comment public! I want to know too haha. Thanks for asking the question Minhaj :)

Hi Odie, Wouaw I didn't realize I haven't replied for 15 days!

Drastically different no different yes. First of all I am not even very familiar with NYC but you can get better return in Paris generally. NYC is just sky high and I don't even now if there is anybody that can claim a positive cashflow in any market around here. The game is all appreciation.

Now the other thing is French are not crazy about suing for the smallest reason while here in the US you basically can get sued because your neighbor didn't wake up happy this morning... and he possibly could get a lot of money from that... Liability is very close to zero financial risk too as long as you get any insurance. You really have to mess up for it to be a problem.

Rates are wayyyy lower now (and generally) I think 15years fixed is like less than 1%. Yes... (http://www.meilleurtaux.com/credit-immobilier/baro...)

Tenant are less headache... they tend to handle minor things themselves and be handy while my understanding is here tenants call for the slightest issue they have. I do the caulking in my bedroom, fix the flush in my toilet etc. I don't have to but it's just quicker than calling my landlord having someone pass by etc.

Houses and apartments are smaller typically. 450sf would make a 2BR in Paris.
No A/C mostly.
New and old constructions are nicer by all architectural standards.

But in France you earn less money for the same job and the lending options are not as diverse as here, haha!

Not better nor worse just a bit different :) 

thank you @Steve Kontos and @George Despotopoulos! I love Astoria, too bad I can't invest here for now. Househacking could make sense here but it is still a lot of money out of pocket every month. I could bet on appreciation, but not as a starting point in RE investing.

Very interesting discussion here! I am new in investing in the US and I find a lot of very useful info from it! Thank you @Jeffrey Smith @Jay Hinrichs @Cara Lonsdale :)

Thanks for the advise @Steve Kontos. This is especially true when doing out of state deals!!

Welcome @Frank Dotro! I am new around here too. Looking into MultiFamily investment

@Steve Kontos I can only agree with you. I have been looking at properties for many months.
Not only is the market competitive but people simply go for appreciation... Which I understand in NYC but this is not the way I want to do this. The only thing I found could make sense was Househacking, which basically turns into a forced savings but can actually give good return over time...

This is what I am working on right now. Finding the market that fits best what I want to do. 2 Hours away max by road from NYC.

I have a nice google map list and pins on all markets I need to look into... I can see some trends already but I still need a good amount of research.

Hi @Michelle Clark and welcome to BP! Everybody needs a property manager :)

Welcome @Cory Carrigan!

Thank you All for the warm welcome :)

@Timothy Yen best of luck to you too!

@Basit Siddiqi  thanks for the tips, this is definitely helpful!

There is one networking event I found on meetup about MultiFamily on January 3rd... talk about a coincidence. I am going, maybe I will meet you guys there.