If you are interested in Ulster County real estate, but aren’t quite ready to take the plunge to move to the area full time, you might consider purchasing a vacation home in New Paltz or a vacation home in Woodstock NY. Both New Paltz real estate and Woodstock NY real estate make great investments. Both are major destinations for weekenders from New York City and other places.
New Paltz, just an hour and a half from the Upper West side boasts world class rock climbing, Zagat rated restaurants, music venues, art galleries, and thousands of acres of forever wild open space, for hiking, biking, birding, or whatever you can imagine. Ulster County real estate will only increase in value over time, especially if you purchase now, at the bottom of the market.
As a rental, you can expect to rent your charming 2 bedroom house out for up to $1500 per week at the height of the season!
Contact Sharon Klein, GRI, broker and owner of Hudson Valley Homes and Land, your Ulster County real estate and vacation home expert, specializing in homes in New Paltz and vacation homes and real estate in Woodstock NY.
Find horse property, work with a horse person and horse property expert in New Paltz, Ulster County’s horse country.
There are 25,000 acres of State and other protected land in the New Paltz area, giving us hundreds of miles of trails and old carriage roads to ride on. You can ride for days without ever seeing another rider. It is literally a rider’s paradise here. There is plenty of trailer parking and the culture here is all about horses. Please allow me to help you find a horse property. I have done extensive research on which properties have direct or very close access to trails.
Free foreclosure list at www.HVForeclosures.com. Up to date, accurate, and absolutely free! I just bought a distressed property for $80,000 in New Paltz which would have sold for $180,000 at the height of the market. The market will rebound and smart buyers are buying now to build their futures.
Call me. I am an expert at this and have been for over 20 years.
Sharon Klein
Broker/Owner
Hudson Valley Homes and Land
845-255-1045 www.HVHomesandLand.com
Great investment property in Ulster County NY. The numbers work here. 4 family Hudson Valley investment property with a rent roll of $3200 a month net. Tenants pay all utilities, even water. Walk to the charming hamlet of High Falls. Very good condition. Please look at our Youtube Video at
or go to http://www.youtube.com/watch?v=92bZB9xyGhc
The first house I bought was in the famous Hamptons. This was not what anyone would consider a “typical” Hampton’s house. In fact, I called it the anti Hampton’s house. It was off color, funky, artsy…It looked like an Austrian chalet and had a legal mobile home on it which I rented out to a local fireman. It had an old horse barn in where I housed my horse Jackson. It was, in fact, the ugliest house I ever saw and I bought it. It was my first house. It had 2 floors both 1500 square feet, two separate entrances and was, for all intents and purposes a 2 family. It was wierd, but it was also a serious cash cow. I rented each floor for about $15,000 for a 3 month season between Memorial and Labor Day. It was an amazing investment.
I don’t live in the Hampton’s anymore. I sold that house in 2002 and made $285,000 on it, as well as renting it for a minimum of $25,000 per year for 4 years or so. I now live in my dream house in New Paltz, in the beautiful Hudson Valley. It is much more “me” up here. I don’t have a huge house, but what I took from this Hampton’s experience is how important it is to have Plan Bs in our lives. For me, plan B is always having the ability to earn a bit extra income if I need it. For this reason, I bought a charming old house that I could rent as a vacation rental. There are numerous websites where you can advertise your vacation rental. I decorated and now market my house as a charming antique filled farm house, close to hiking, cross country skiing, fine dining, antiquing, etc. In the Summer months, a two night rental typically brings me $400-$500 depending on the number of people in the party. Where do I go when I rent my house? I built a little cottage which doubles as my office in my back yard. I quietly move into my little back yard retreat for the weekend. It is a small inconvenience for the $10,000 in extra yearly income I make from this smart investment.
Since I do this for a living, I spend a substantial amount of brain power trying to figure out where the real estate market is going from year to year. I’ve been in this business going on twenty years now. I entered it in the later days of the Savings and Loan crisis, which was not too different from the recent crash we just saw. Millions of dollars of equity flying out the window virtually overnight, and from wealthy, savy people too. I have always prospered in down markets, as this type of market is how I cut my real estate teeth. It’s the “dead air” market I have trouble in. You know, dead air, is a sailing term. The wind is not blowing in any direction. I think we are still languishing in a mosh pit of real estate distress. I am finding new deals to be had every day. I am buying a “junker” house myself, and will fix it up and flip it. It’s not a short sale or foreclosure, but a house that simply has been neglected by its elderly owner. The moral of this, my, story is, if you seek, you shall find. I am in the business, so I know what to look for. You may have to view 50 houses before you find one that fits your investment strategy. Start working with a Realtor who is in the the pit and she will help you achieve your goals.
Since I have been focusing my business on selling foreclosures for banks, I have seen many great deals pass my way that I was not able to purchase because of the banks think it’s a conflict of interest. Today I decided I wanted to find a way to change that. I began my search for distressed or investment grade property in the Hudson Valley and in particular a foreclosure in my territory of Ulster County. One thing I quickly discovered is that if it is still on the market after 60 days or so, then most investors have already passed on the house, and they have passed on it for a reason. I was very happy when my offer to buy a 2200 square foot house for $35,000 was accepted by the foreclosure listing broker I called. My research uncovered the more violations and open building permits than you can shake a stick at. It also uncovered an inspection by a local engineer who postulated that the entire foundation may have to be poured again as the footings had shifted. I also discovered that there had been a preliminary electric inspection. When contacted the electrician who performed the inspection, his take on this house was “bulldoze it”. Famous last words: if a deal seems too good to be true, it is!