All Forum Posts by: Dennis Regn

I have had no luck finding either of these lists. I have been out to riverhead 4x asking for a copy and they just give me the dumb dog look and say that is not public information. So if you find it please share!

To do all that work at that price sounds very reasonable. I’m an experienced rehabber in Suffolk. 100k is very normal for me. Building materials are very expensive have gone up almost 15% in the last year and the cost of labor on LI is higher then any where in the nation. 

I Use Integrity abstract. They are in Mineola. They are great. But  your attorney is always going to start you towards using the title company they trust/own. If you are using an attorney who strictly does real estate they will have an investor friendly title company.  DO NOT Use an attorney that does anything but real estate.  Wholesaling is very difficult in Long Island 95% of sellers attorneys will not allow an assignment clause in the contract.   

No do all your work. And the very last thing you do in that house is have the town come out and  do the pressure test.  That’s what I do. I’m not saying it’s rigjt but if you have them come out in the beginning or during renovation your going to open a huge can of worms.

I recently went through a very similar situation with the town of Brookhaven. I as well did not know about the town CO issue. I did all my renovations and when I was all wrapped up I had pressure test done. The inspector can did a quick walk through of all gas appliances and issued me paper works to have my gas tuned back on. Huge crisis averted. I do know another investor who has same problem but was not so lucky. Had a finished basement in TOB town came to approve pressure test went in his basement which was finished illegally. They made him tear  everything out of basement because house was on to small of a plot to have finished basement. My advice roll the dice.

Call some of the 500 bandit signs you see all over the roads. Go to the local REIAS. Reach out to real estate attorneys in your local area the usually have working relationships with wholesalers. Go to town hall and get business cards at the auctions most everyone that buys on the steps wholesales. I'm an active flipper in Suffolk I highly re commend trying to find your own deals I've flipped 10 houses in the last two years and have only bought 1 from a wholesaler. Usually there numbers are way off as far as ARV and constructions costs. The MLS is a tough place to ship the competition is super tough. I reccomend finding a niche neighborhood you want to be in and work it, drive for dollars leave hand written notes door knock. It's the only way you'll find a deal with meat on the bones.

@Matt B. Our main farm areas are central Suffolk. That's where we live so that's where we operate. We originally purchase our houses with some of our own money and investors. but the more houses we do the more private money people have been willing to give us. If you want to chatand go over deals or are looking to JV something to get your feet off the ground.

Yes I fix and flip. Currently looking to pick up a few more deals bye years end.