Nah it was good video bro. Im from south side jamaica queens, sittin here watching this in brownsville brooklyn at work. You already know how impossible it seems to grab a multifamily in NY. Beyond discouraging. But this motivated me! Where there’s a will…theres a way. Hope that deal turns out as successful as you and your brother vision it💪🏽
Hey Man great video. I am a landlord in Brooklyn and queens. Be careful all basement apartments are illegal in nyc. One violation from NYC DOB and all profit is gone and a paperwork nightmare.
Appreciate it! Glad you found this helpful 🙏🏾 . Wishing you luck on your homebuying process btw! Hopefully you can get all of that situated before interest rates get too high. Let me know if you ever have any questions.
love this man, so many multifamily investing videos are about a building in Ohio where a building costs the same as a bag of potatoes, needed to see one about my own area, with some realism. Would you still do this today, given the 6% interest rates?
Great job guys .. what a video... Very inspiring... I am also into buying multi family in Bay Area California. You are so right that need to find a good lender. I am still looking around the lender. Do u have any contact info of your lender that fund your deal?
What are your thoughts on Crown Heights? I have a 10 unit there but with the “tenant first” laws, It is a struggle to get consistent rent from certain tenants and it is hard to evict them. I believe that there will be significant appreciation in the long term but at the same time, that money can be making me more money instead of sitting there.
I would not invest in CH. Consider how people get there. It has a limited number of avenues for flowing-business, say compared to South Park Slope or even Clinton Hill. Besides CH has less Masonry buildings, and there will be a material reckoning for the style of construction and how long they last.
Down payment and closing cost was only $250k for a 1.55 mill multifamily 0.0 I thought they would ask for more. I have been looking at properties in Brooklyn since I been waiting for my huge settlement. I thought I would only qualify for 1 mill because my lawyer told me I should get the lowest 230k so I been looking at properties that are 1 mill and less. Was this a owner occupy multifamy ? Ok I just saw you got an fha loan so no doubt it was
Hi, thanks for watching! Smaller lenders are the way to go in my opinion if you don't have at least a 20% down payment. We wanted to go with rocket mortgage initially, but they turned us down cause we were only able to come up with 10%. Smaller lenders usually have higher risk tolerances but that may or may not be the case now with the rise in interest rates.
I been searching for someone to make a video about this from NYC I want to purchase a home in NYC but I haven’t been able to do you mind if we get in touch 🙏🏻
JP HAITI KID #1🇭🇹✊🏾. Let me come to BK I want to do an interview with you guys for both our TH-cam Channels, I would love to collaborate with my Haitian family. Let’s get it Bro 😆🤝🏾
Good to see some brothers investing in property, instead of strippers, gold-diggers and ice ! I live out here too and I wished my brother and I could get tht bag, but his mind aint there. He would rather work for somebody, than start his own, so I am looking to replace him.
Have you verified your statement that your lender asked you for a "bunch of things" they would not ask of a white applicant? If you have verified that statement you should be seeking damages against the lender and possibly be a class action Plaintiff. If you have not verified the statement you should not make it or at least make it clear that it was your unverified believe or "feeling" . Please be careful with your platform.
Nah it was good video bro. Im from south side jamaica queens, sittin here watching this in brownsville brooklyn at work. You already know how impossible it seems to grab a multifamily in NY. Beyond discouraging. But this motivated me! Where there’s a will…theres a way. Hope that deal turns out as successful as you and your brother vision it💪🏽
Broke it down soo well and was super inspirational too. Its amazing to see you and your brother do it and know that its possible. Very motivating
Appreciate that bro. Its def possible and I hope you can get it done yourself one day. Glad you liked the video 🙏🏾
Hey Man great video. I am a landlord in Brooklyn and queens. Be careful all basement apartments are illegal in nyc. One violation from NYC DOB and all profit is gone and a paperwork nightmare.
Also if you have one in laying tenant or a vacancy every month this building will cost approximately 2500 to carry it
From the outside I see 4 meters. So maybe the basement apt is legal in this multifamily house.
Awesome video ! Thanks for the details. I’m looking for a two family in NY so this helps
Appreciate it! Glad you found this helpful 🙏🏾 . Wishing you luck on your homebuying process btw! Hopefully you can get all of that situated before interest rates get too high. Let me know if you ever have any questions.
Great video filled with gems! Can’t wait to see more 🤝
Appreciate it my guy! More to come 🙏🏾
love this man, so many multifamily investing videos are about a building in Ohio where a building costs the same as a bag of potatoes, needed to see one about my own area, with some realism. Would you still do this today, given the 6% interest rates?
Great video. I'm curious how's your experience been 6 months later?
Keep killing it brother !!!
Great job guys .. what a video... Very inspiring... I am also into buying multi family in Bay Area California. You are so right that need to find a good lender.
I am still looking around the lender. Do u have any contact info of your lender that fund your deal?
Amazing Bro, love this for real🙌🏾🙌🏾🙌🏾
Appreciate it bro! Glad you liked it 🙏🏾
What are your thoughts on Crown Heights? I have a 10 unit there but with the “tenant first” laws, It is a struggle to get consistent rent from certain tenants and it is hard to evict them. I believe that there will be significant appreciation in the long term but at the same time, that money can be making me more money instead of sitting there.
Those laws are no more. Now I am taking everyone to court and winning.
@@mrsalt3337 Thanks for the feedback. Was this recent? I heard that the court was backed up
Register the units to the city and you definitely will get you're money
What was you're credit score and did the lender also gave the closing cost and the down payment?
I would not invest in CH. Consider how people get there. It has a limited number of avenues for flowing-business, say compared to South Park Slope or even Clinton Hill. Besides CH has less Masonry buildings, and there will be a material reckoning for the style of construction and how long they last.
Down payment and closing cost was only $250k for a 1.55 mill multifamily 0.0
I thought they would ask for more. I have been looking at properties in Brooklyn since I been waiting for my huge settlement. I thought I would only qualify for 1 mill because my lawyer told me I should get the lowest 230k so I been looking at properties that are 1 mill and less.
Was this a owner occupy multifamy ?
Ok I just saw you got an fha loan so no doubt it was
Nice job! Congrats on your investment property
Thanks for the video man! Can you tell me who’s the small lender who made your FHA?
This video answers so many questions! Thanks!
Great video! Give us an update!
New video out now! th-cam.com/video/UAu73bIiTr8/w-d-xo.html
Not bad! Closing and Downpayment was approx 18% of property!👊🏿
Truly educational and inspiring fr congrats 🙏🏾 1.5 mil in cash was crazy tho 😂
Appreciate it bro 🙏🏾 and son! Someone having that much in cash blows my mind everytime lmaoo
@@jerrystwocents7273 Odee blows minds 😂
Amazing video!!🙌🏾
Do you have a link to access the excel sheet you used for the analysis?
Gems For DAYS.
🙏🏾🙏🏾🙏🏾
Congrats fam 🏠🏠🏠
Appreciate it my guy 🙏🏾
Hi thank you for this nice video. Do you have any suggestions for lenders?
Hi, thanks for watching! Smaller lenders are the way to go in my opinion if you don't have at least a 20% down payment. We wanted to go with rocket mortgage initially, but they turned us down cause we were only able to come up with 10%. Smaller lenders usually have higher risk tolerances but that may or may not be the case now with the rise in interest rates.
Good video. Thank you.!
I been searching for someone to make a video about this from NYC I want to purchase a home in NYC but I haven’t been able to do you mind if we get in touch 🙏🏻
great advice!
In regards to the FHA loan, does the buyer have to live at the property for at least a year?
Yes, he has to live in one of the units
My guy 🙏🏾💪🏾💪🏾💪🏾
🙏🏾🙏🏾🙏🏾
I am in Bedstuy. 🤑🤑🤑 Malcolm X Blvd!
Oh you getting money! Let me hold a dollar lol 😭
Meaning you own a multifamily unit over there? 👀👀👀
JP HAITI KID #1🇭🇹✊🏾. Let me come to BK I want to do an interview with you guys for both our TH-cam Channels, I would love to collaborate with my Haitian family. Let’s get it Bro 😆🤝🏾
@Jerry's Two Cents what income ranges do you guys have so I know that I can qualify like you?
here from Twitter.
Thanks for stopping by! Hope you liked the video 🙏🏾
Good to see some brothers investing in property, instead of strippers, gold-diggers and ice ! I live out here too and I wished my brother and I could get tht bag, but his mind aint there. He would rather work for somebody, than start his own, so I am looking to replace him.
lmaoooooo looking to replace him is crazy
👍🏻
🙏🏾🙏🏾🙏🏾
Have you verified your statement that your lender asked you for a "bunch of things" they would not ask of a white applicant? If you have verified that statement you should be seeking damages against the lender and possibly be a class action Plaintiff. If you have not verified the statement you should not make it or at least make it clear that it was your unverified believe or "feeling" . Please be careful with your platform.
I heard New York is not a friendly landlord state
It's not