All Forum Posts by: Greg G.

Any help appreciated...

Heating system options for a STR near Gore Mtn. in the Adirondacks, NY

I Need help with the best heating options. It’s a duplex, it’s two 4 bedroom units attached. Currently has oil heat with an undersized old oil burner. I do plan on getting a backup generator but there’s a one year backlog ugh

Plumber is pushing for me to switch to a new propane heater to heat both units.

My concern is running out of propane and having the pipes freezing...

Someone suggested to me that electric baseboard heaters are a good choice and cost effective. Any advice appreciated

@Matthew Irish-Jones thank you.

Fingers crossed, I’m still waiting to hear back. I guess I should have a plan B in place if it is illegal. Maybe ask for a reduction in price? The asking was $130 and we agreed on $80k.

@Michael Swan will do thank you mike

@Dmitriy Fomichenko

Thank you!

@Paul Welden

Thanks Paul!

Yes my LO is very experienced and knowledgeable. He literally moved mountains for me to get into my primary residence last year while I was finalizing my divorce. He took a lot of stress off of me with that loan.

If Anyone needs a good mortgage guy in the Long Island area his name is Steve Tandy with the Garden City Loan Depot Branch.

@Matthew Irish-Jones Thanks Matt.

Yes This was my specific concern exactly...so I was on the phone with my attorney yesterday asking her to request specific information in regards to this matter so I’ll have no worries about tearing down the extension and etc.

Still waiting to hear back on this.

@Paul Welden

The rehab loan will be with Loan Depot...conventional homestyle loan. That’s what my mortgage guy told me it’s called.

The ARV currently looks like 350-400k

@Chase Fisher thank you! Looking forward to closing on my first rental...and swinging a hammer all summer lol

@Tim Delaney

Yes my attorney said nothing popped up on the attorney approval letter check with this but they are going to just double check with the town again.

Hopefully I’m all good to go.

Yes the 1k/night was during peak ski season . The ARV has a potential to be at least 350k from what I see as well...🤞

Thank you

@Tim Delaney

Thanks Tim. My question was should I be concerned about the home not having a CO or permit on the extension which was done over 50 years ago most likely and before this current owner bought the home.

The rehab I’m estimating at 100-120k. So All in I’d be at 200k. Similar homes are renting 1k a night approximately and this would be two units potentially.