All Forum Posts by: James Mackey

@Jim K.

No, but I want to every time a real estate agent says you need a real estate agent and a property manager says you need to hire a property manager.

@David Ferrette

They have been offering tax breaks to smaller businesses through the Startup NY program that used to be advertised here in Texas all the time. Because lots of New Yorkers have fled here. Lol.

https://esd.ny.gov/startup-ny-program

The problem is that when you look at the list of exclusions, pretty much every type of business is excluded.

Madness.

I’m still trying to understand why a former attorney for the FBI would rent a home instead of own one.

@Patrick Fraire My best friend’s sister’s boyfriend’s brother’s girlfriend heard from this guy who knows this kid who’s going with a girl who saw Ferris pass-out at 31 Flavors last night. I guess it’s pretty serious. Downsizing from the #1 most expensive state in the US to the second most expensive one because of bad credit and family issues? They can’t afford either of those locations if they can’t even cough up a deposit. I have compassion for those falling on hard times, but this sounds like a pattern of poor decisions led them to this point. Maybe there’s reality show potential there. They really should be looking to live in a “flyover” state like mine, with low taxes and good jobs and affordable homes. If they get into that condo, they’ll never leave. They will assume your gf is still making a profit because nobody in their right mind would do that deal otherwise. AND they’ll never be willing to move out to a unit they can afford because an affordable unit in their price range would be so much less than what they will be used to. It will be a kicking and screaming eviction or your gf will have to stop making payments and let the bank take the condo back. Magic 8 ball says get a new gf. The red flag is her willingness to go upside down on deals like this, and half those losses will be yours if you marry. Not just this deal, but future deals. If she gets 100% of the decision here, it (and her thought process) needs to be 100% fixed if she is to be the one.

@Chase Gibson I think the terms of that potential offer would make it clear what your intentions are. Having been on both sides of owner-financing for commercial property, if you came at me with that offer I would expect you to be trying to refi before the ink on the transaction is even dry. My experience with owner-financing has been that the leverage is with the seller, not the buyer. Instead of a seller being desperate to move a property, it is the buyer who needs owner-financing because they are unwilling or unable to obtain more traditional financing. I have twice been asked to owner-finance a prospective buyer, and both times the offers came in at higher than asking price.