Posted by Casper on July 27, 2003 at 23:07:47:
Thank you very much for your response. it is encouraging to note that 4 units in NYC are not necessarily rent stabilized. I have been looking at those for some time now. I reason that since 5 units (commercial properties), have a higher standard when it comes to obtaining financing, I could come down one unit to 4-units, and thus stand a better chance of finding financing at 95% LTV. I plan to do a couple 4 units before I graduate to the higher units etc. I plan to do this in Brooklyn. What do you think about this ? I figure 4 units ought to be better than 2 units since both can be financed at 95 % LTV.
So since you have looked at many 4 units, is there anything you found out about those that I need to be aware of ? Let me know.
On another note, let me say that I have read a great many of your posts, and I find that you are very knowledgeable about RE in general, and NYC RE in particular. I must commend you for having the grace to share your knowledge with this community. I can imagine that it took you years, much effort and pain to acquire this knowledge. Again, thanks for the magnanimity in sharing, and showing us newbies the way.
For this, and with permission from all the other worthy contributors, I hereby propose that you be granted a CREONLINE honorary Ph.D (Real Estate Investing). You certainly are deserving of it.
Have a great day Frank…