All Forum Posts by: Karl Dowden

Hi @Joe Jor,

It looks like @Adam Cherko (thanks for looping me in!) and @Amanda Gisonni Kittredge already addressed this. Unless it's in the local building department records (typically the certificate of occupancy/certificate of compliance) as an in-law suite or, more likely as an accessory apartment, it is presumably a marketing term. You should check the local building department records and see what the records show the property as. 

Best of luck!

Karl

Disclaimer: The foregoing is for comment and discussion purposes only, should not be construed, and may not be used, as (a) legal advice, or (b) to abate in whole or in part any interest or penalties for, related to, or in connection with any tax or imposition by any governmental authority having or asserting jurisdiction, or (c) solicitation of retention or employment, or for the furnishing of legal or non-legal services, or (d) to create a client-attorney relationship or privilege.

@Christian D. Yes, I represent landlords for evictions in NYC (as well as Westchester County). I sent you a connection request.

Hi @Christian D.,

Unfortunately, it looks like you are in a situation where you will likely have to litigate against the two tenants and/or negotiate a settlement to regain possession. Depending on the exact situation (including the answer to the question @Anthony Rosa raised), the courts may or may not permit you to collect rent from the tenants while they are in possession. Please feel free to reach out to me directly if you would like to discuss in more detail.

Best of luck.

Karl

Hi @Jessica White,

I would recommend speaking with Ryan Ragano. He's a CPA in New York that focuses on representing clients who own real estate (particularly syndications). 

I'd be happy to send an introductory email if you'd like. If so, please send me a message with your email address.

Best,

Karl 

Congratulations @Jonathan Beaumont! Where in Westchester did you purchase? How did your brother find the deal? 

Hi @Noel Brophy,

If you select "Network" at the top of the webpage on BiggerPockets.com, then select "Events", you will be taken to the page on BiggerPockets where members list the meetups in the area.

As of now, there is a Bronx meetup hosted by @Ceasar Rosas. The events are announced on https://www.meetup.com/Bronx-Real-Estate-Investor-...

He is also the host of the Yonkers meetups. https://www.meetup.com/Yonkers-Real-Estate-Network...

@Darren Sager also hosts events in Manhattan. You should contact him to get on his mailing list for upcoming events. 

Other groups in Westchester: 

https://www.meetup.com/Westchester-Real-Estate-Inv...

https://www.meetup.com/WestchesterREIA/

Best of luck.

Karl

@Account Closed's question, was the prior owner still living in the property when you purchased it?

An opportunity to rectify the problem will likely arise sooner than the 5 year mark. If the tenant wants something from you that they are not entitled to under the lease, then you would be in a position to ask that, in exchange for your agreement to their request, they agree to pay for their utilities (or at least a portion of it so that they will have an incentive to minimize their usage). 

You could also have an attorney review the lease and see if there is anything that can be used to help you rectify the problem sooner.

Best of luck,

Karl

Why not try attending various professional networking groups and/or events? That way you can try to meet professionals who may be interested (or know someone interested) in subleasing office space? 

Alternatively, you can email the officers of those groups and/or organizers of those events to see if they can't circulate an email about office space for rent.

One thought that comes to mind is reaching out to your local bar associations to see if they can help you. 

Best of luck!

Karl

Hello @Vaughn Smith, if you are considering property in the Bronx, you should reach out to @Ceasar Rosas.