All Forum Posts by: Lou Forino

Not quite sure what you mean here. It isn't a bad situation from my point of view. The tenants are telling me that they are going to cooperate, but I want backup to make sure.

We purchased the house knowing that they had leases until this Feb..we timed the sale of the house to come after that point hoping we would get their cooperation because we have been good to them.

I am just curious if I should give them a 30 day notice on top of a contract stating they will move out for forgiveness of rent.

We are in NYC and I have a property that we are in contract to sell, but it must be delivered vacant. One tenant agreed to leave at the end of March in exchange for rent forgiveness. Feb & March, minus 1 mo. security deposit.

My question is should I still serve her with a 30 day notice in addition to getting an agreement like this signed and 2. does anyone have an agreement that may cover this?

Thanks in advance for you help!

Zennia,

My assumption when you say NYC means the outer boroughs. Staten Island is your only hope of consistently finding properties in the 100k range, but I do not have personal experience there to confirm that. Just hear say from associates.

I do a decent volume of buys in the Queens and Brooklyn areas and 100k isn't realistic unless you are thinking of condos in queens. The largest volume of houses we buy are two families. Typically we get them between $180k and $290k depending on condition, area etc.

Another option to look at depending on where in NYC you live are on the other side of the GW bridge in NJ. From what I have heard there are areas that you can pick up specs for 40-50k and turnover for 80-100k. Once again, this is not from personal experience, but maybe it can give you a lead into areas to look into.

Best of luck to you!

I have been starting a bandit sign campaign in NYC. An issue here like some other parts of the country are that most of the main roads have metal lights and no wood poles. We have been using electric zip ties to secure the signs, but I see some pros (the cash for car guys) using some type of black adhesive.

We are looking to speed up the act of putting up the signs and I was wondering if anyone has any experience using this black adhesive, know where I can get some and any other tips.