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All Forum Posts by: Erik Snipas

Erik Snipas has started 2 posts and replied 16 times.

Hi Dan,

I sent you a DM. I have someone who can help. Give me a call when you have a chance. 

Post: Any advice for a new commercial real estate broker from veterans?

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9

Hi Suzanne,

Adding my response from my own dealings (2 years after your OP but better late than never, right?).  Make sure you confirm the zoning district of the property and ensure the buyer's proposed use is a permitted use.  I have seen far too many clients come to me under the mistaken belief that their proposed use was permitted in the zoning district.

Hi everyone!  

For those of you with property (commercial, multi-family, single-family, etc.)  in Nassau County, New York, as a friendly reminder, the filing period for commencing a tax cert (tax grievance) proceeding for property in Nassau County ends on March 1, 2022. If a property is not filed on by the deadline this year, the property owner will forfeit any right to a refund for tax year 2023/24 and have to wait another entire year before being able to file. 

Grieving your real estate taxes in New York is essentially a "no lose" situation because a challenge can only result in the assessment getting reduced or remaining at its current level.  

If I could be of help to any property owners in New York (upstate New York or Long Island), please feel free to contact me!  Anything I can do to give back to the Bigger Pockets community! 

Post: underground oil tank on potential purchase

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9
Originally posted by @Michael M.:

I spoke to several tank removal companies.  Almost all of them said that they legally have to do soil testing.  I found one company that said "wellll really.... its up to you if we test.... but if there is a big leak we have to report it.... but we won't report any holes in the tank....."  Seemed like they were willing to look the other way, but even this company said to try do do everything before closing.  Spoke with lawyers, oil companies, and more.  Pretty much everyone said it's not worth the risk.

So what happens with properties like this in NYC?  Do they stay on the market forever?  Do they get bought by people who don't realize what they may be getting into?  Or do they get snatched up cheap by investors who "know a guy"?

 Michael have you tried looking up the property in the NY DEC spill database? https://www.dec.ny.gov/cfmx/extapps/derexternal/index.cfm?pageid=2 This usually gives a cursory look on the property before you spend on the environmental review and possible remediation.

Post: Nassau County Meet-Up

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9

Great meeting tonight, everyone! I want to especially thank @Cary Tober for putting this together. It was a breath of fresh air to meet some great people who all shared an interest in real estate and genuinely wanted to help one another. 

Can’t wait until the next meeting!

Post: Nassau County Meet-Up

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9

@Lulli Debrosse let people know about this!

Post: How to subdivide land?

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9
Originally posted by @Wayne Brooks:

Start with your local building and zoning dept., go down in person. They usually have someone that can give you the requirements for your particular property.....minim lot sizes, set back requirements, etc. If it looks feasible they can tell you the process to go through.

 Agreed - it is usually very easy to set up an appointment with your local building department.  It's probably best to bring your architect/engineer along with you with any composite plans you may have drawn up so that the building department has an understanding of what you plan to do.  

Post: Erik from Long Island, New York

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9
Originally posted by @Kirk Hanson:

Welcome to BP.  If you are interested in flipping houses in the Charlotte, NC market, check out my profile.

 Thanks, Kirk!  I am more so interested in buy and hold properties but have definitely had my eye on the Charlotte area as well.  If you think we can help each other, let's chat!

Post: Erik from Long Island, New York

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9
Originally posted by @Brian Rosher:

Hi Erik,

What are your goals for investing?  Perhaps you can use your skills as a leg up to look for deals where subdivision or a change in use can increase value.

Brian

Hey Brian, my goals are buy and hold rental properties to start and eventually, with experience, move to commercial real estate. 

I’d be glad to provide any help I can! 

Post: NY Out of State REI Meeting

Erik SnipasPosted
  • Huntington, NY
  • Posts 16
  • Votes 9

@Lulli Debrosse we should go!