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All Forum Posts by: Matt Lane

Matt Lane has started 2 posts and replied 47 times.

Post: Electric heat bronx ny

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

@Jayson Greenblatt  did you ask the owner what the typical winter electric bill is?  Why not negotiate a discount on the sale and then convert to oil with the savings?  It's more none out of pocket now but increasing the value of your property.  However only makes sense if you can get them to discount the price sufficiently 

Post: Electric heat bronx ny

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

@Jayson Greenblatt Was there a reason this house didnt have gas or even oil heat?  Was the seller selling the property at a discount because of this?  Im remotely familiar with the bronx

Post: First Long Islander On This Site?

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

Hey @Javier Reynoso

There are actually plenty of Long Islanders on BP, including myself, just seems we are the only two in the forum.  Welcome to the site and be sure to subscribe to the podcasts, they are very helpful

Post: Suing a Contractor in NY State..

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

@Matthew Spiegel

 Sorry to hear about your situation.  Haven't dealt with suing a contractor but have definitely had ones stop mid job and disappear.  

I dont think its worth getting a lawyer to sue them either however if you do have their address maybe your closing attorney can type up a threatening letter for free when can be sent to them. It probably wont make much of a difference but it cant hurt either.

In the future you can try doing these two things

1) When contractors go to home depot or any of our suppliers to order material on our account, the suppliers are not allowed to moved forward without calling our office and getting authorization for the order.  They will either tell us on the phone what is being purchased or will fax us the invoice for us to approve before allowing the contractor to make the purchase.  This way we can be sure the contractor is not putting random material for another job on our account

2) We also make a photo copy of the license of every contractor we deal with so we know where they live.  We do this at the beginning and tell them it is to ensure if they leave the job in the middle or do something inappropriate that we know where they live and will have our lawyer deliver a lawsuit.  This is not fool proof but it helps set expectations.

Hope that helps 

@Ram Mishra how do you find out more about the NY event?

Post: Newbie from NYC

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

Welcome @Canny Almonte.  Always good to see more realtors director towards investors!  

Post: A Beautiful Orphan 2 Family in the Bronx, NY

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

@Boaz Golani

How did you find out BNY is the new owner and how have you tried contacting them? Their should be a real estate trust division, not sure if that's what they call it but i'm sure you can find the name with a little googling.

I are sure they bought the tax lien or were they the lender and foreclosed on the owner?

Post: Success on 4th Vacation Rental!

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

Congrats  @Maura Paler!  

What do you mean by vacation rental restrictions?  Are you talking about local town regulations that prohibit short term rentals or is it on the state level?

I heard AirBnB was not 100% legal in NYC as there are "hotel" regulations for such short term rentals and it gets more complicated if you're leasing your apt or its a part of a Condo/Coop

Post: Darren Sager Invited Me

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

@Darren Sager looks like @Karen Hurd couldn't respond to your email since you aren't connected.  Thought I would loop you in to help her out one last time

Post: New Member from NYC

Matt LanePosted
  • Investor
  • New York, NY
  • Posts 50
  • Votes 13

Welcome @Nicholas Hooyman

Always good to see fellow NYers join the community.  If you haven't done so yet, definitely check out BP's Ultimate Beginner's Guide  at the link below 

http://www.biggerpockets.com/real-estate-investing