Nye Properties LLC

Here it is!! First purchase of 2022, and my very first Short Term Rental property. This is a brand new type of venture for me, and I couldn't be more excited! It's mostly turn-key, but there's still so much more needed to get a STR up and running that you don't deal with on regular LTRs. I'll update you all once we're finally live on AirBNB!

2021 in Summary:
I started out the year having only purchased 1 rental property since 2018. Needing to get back on the wagon, I set a somewhat arbitrary goal to buy 4 more investment properties in 2021. This goal gave me direction, and motivation. While I didn't quite hit the goal, in reality I'm in an even better place, and started moving in a brand new investment direction that I never expected. Not only did I buy my first out of state property, but I also went under contract on my very first AirBNB / short term rental property (& 2nd out of state purchase). Little did I know that this would set the tone and course for my entire 2022 and beyond.. I can't wait!

2021 Highlights:
- 3 properties purchased
- 8 units added to portfolio
- 1 property sold (1 unit sold)
- 4 properties refinanced
- 1 property pending / under contract

#3 for 2021: My first purchase ever OUT OF STATE. I'm so excited to announce buying a rental property in Savannah, GA. I've never yet ventured out of NY, so this is quite the change for me. I wanted to diversify, avoid NY tenant regulations, lower taxes, and to explore new markets and possibilities. Thanks goodness for my awesome friend, partner, and boots on the ground Tyler who helped make it all possible.

2021 Update: Not a purchase, but 2 more "BRRRR's" in the books. Cash out refi of 2 rental properties to LEVERAGE purchasing another. Debt can work FOR YOU

#2 for 2021. Found this off market deal, and added a great 4-unit + massive garage for additional parking / income. Surprisingly, this is my first off market purchase!

Another 3 Unit in the books. Our first purchase of 2021, but hopefully not our last.

It's a tough time to buy rental property. There's nothing available, and too many investors. But we managed to buy one last week! Another 3F in Cohoes [seems to be a sweet spot for us]. No need to shine this one up, it's already beautiful and ready to go!

NEW YORK STATE: Evictions halted indefinitely during the crisis.

New York halts evictions indefinitely due to coronavirus pandemic A statewide suspension on evictions will take effect March 16 at 5 p.m.

NATIONALLY - 60 day moratorium will suspend evictions and foreclosures: HUD foreclosures until end of April, Freddie Mac & Fannie Mae foreclosures until mid-May.

Fannie Mae, Freddie Mac, HUD suspending all foreclosures and evictions The federal government is taking action to keep people in their homes by suspending evictions and foreclosures due to the spread of the coronavirus.

Attention INVESTORS & FLIPPERS. New York State is looking at legislation to impose taxes on all property re-sold within 2 years of purchase. Obviously this is directed at investors / flippers, but this also hurts your average homeowner who may have to move within a year or two for common everyday reasons. This has not yet passed, but it's good to keep an eye on what the state is doing. There have been many changes to the real estate industry in the last year or two at the state level.

While the state may think they are helping the public in some way, they are actually hurting our communities by inflating resale prices, and discouraging improvement and renovation of dilapidated buildings, yielding more zombie properties, and less property tax income for the state as a whole.

New York Might Pass an Anti-Flipping Bill. Are Other States Far Behind? - Realty Times That dream of buying a house in a state of disrepair and fixing it up to sell for a big profit is one many of us share. And the people you see on TV aren’t the only ones who are doing more than dreaming. According to ATTOM Data Solutions’ most recent stats, more than 200,000 U.S. homes...