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In re upstate, I was in a little town called Swan Lake in Sullivan County last week (near Bethel) and it was like a cross between South Williamsburg and a Catskills Ghost Town. Many shuttered formerly fancy resort hotels, and lots and lots of hasids emerging from the misty woods. Seriously strange.
Kens….the biggest issue in owning rental property is that once it is more than 1-2 units in your own building, it beocmes exponentially more time consuming to manage. It depends what his day-to-day job is as to whether he can deal with that or he has to hire handymen, etc.
An absentee landlord is a recipe for all sorts of problems. After that, it’s all about the yield.
Thanks Dave and Benson. That was very helpful. I actually want to talk to both of you at the next get-together.
Benson, let’s chat about upstate. I know it’s dirt cheap by Schenectady, Troy and Albany area and loads of inventory but I was debating getting something either closer in upstate (liberty, monticello) or further (watertown).
Dave, I really need your advice on BedStuy (actually my best friend does). He has been looking in the past month at investment properties in your hood (Halsey) as well as some properties on Quincy (not sure if that’s by you) to buy and rent out. He is looking at 2-3 family ones. I have a couple of questions of do’s and don’ts but I much rather discuss this with you in person.
I’ll greatly appreciate both of your advices as both of you are more experienced in both real estate and life than myself or my friend.
In re upstate, I was in a little town called Swan Lake in Sullivan County last week (near Bethel) and it was like a cross between South Williamsburg and a Catskills Ghost Town. Many shuttered formerly fancy resort hotels, and lots and lots of hasids emerging from the misty woods. Seriously strange.
the chicken with rice was baby food also?
Kens….the biggest issue in owning rental property is that once it is more than 1-2 units in your own building, it beocmes exponentially more time consuming to manage. It depends what his day-to-day job is as to whether he can deal with that or he has to hire handymen, etc.
An absentee landlord is a recipe for all sorts of problems. After that, it’s all about the yield.
Kens, make sure your friend buys and then actually rents it out vs. letting it sit for 2 yrs like me.
I’ll shoot you an email soon about something else
Dave, please post clips of hot women cause some of us like them!
Snappy – I found my notes about what I fed MacDuff – baby food veal or chicken mixed w/ plain white rice.
Thanks Dave and Benson. That was very helpful. I actually want to talk to both of you at the next get-together.
Benson, let’s chat about upstate. I know it’s dirt cheap by Schenectady, Troy and Albany area and loads of inventory but I was debating getting something either closer in upstate (liberty, monticello) or further (watertown).
Dave, I really need your advice on BedStuy (actually my best friend does). He has been looking in the past month at investment properties in your hood (Halsey) as well as some properties on Quincy (not sure if that’s by you) to buy and rent out. He is looking at 2-3 family ones. I have a couple of questions of do’s and don’ts but I much rather discuss this with you in person.
I’ll greatly appreciate both of your advices as both of you are more experienced in both real estate and life than myself or my friend.
Monday, Monday…
http://www.youtube.com/watch?v=H7KrlDZ5Hkw
LOL Rob!