All Forum Posts by: Les Jean-Pierre

Nice job on the rehab. I can't believe it is the same place. How much was the tax lien? Was there a mortgage that was wiped out? These situations always make me wonder what was going through people's heads.

I used squarespace. It is more expensive than the others but I found it easy. If you sign up for a year which costs around 85 bucks if memory serves, you get your domain free. Wix is free but you will have their ad on your page.

I am going to be at the Nassau County Lien Sale coming up. First time I will be attending. I think it is a bid the rate down process. Then you have to wait two years to foreclose. I think any subsequent tax bills you pay instead of the owner is at the same rate which won the lien. Guess, I can let you know soon!

A cousin of mine got a mortgage with them. It was not 0%. She did get a great rate but it was a long process. She is happy she did it but it took a year.

Hi Colleen,

Property is in their names. None live close by so they can't say it is their home. Moving is not a viable option either.

I was told that you can't use the shower in there. Not sure if that is a minor fix or not. 

And should add it is worth conservatively $500k.

Hi, Posting on behalf of a friend. Three siblings inherited a vacation home in Martha's Vineyard. It is in a state of disrepair. They want to keep the property but have no cash. All three have poor credit too. They likely need 100k to get the place up to speed to rent it out. I suggested Prosper or some other peer to peer lending. Any ideas?

Brownstones are 3-5 story townhouse like structures. They can run 2500-4000 sq ft. Most are cut up now into multi families but originally they were single family.

I think I would have invested in Fort Greene or Clinton Hill just because I like those areas as well and it is easier to get to the other property. Either way, you are sitting pretty.  

Harlem will continue to gentrify. There are projects that aren't going away. But, that is NYC. Great thing about NYC is you only have to get it right once and you are in a good position.

There is Wix, Wordpress(which I see a lot of people use). I used squarespace. I found it easy to use. Weebly is another one.

Well, Brooklyn is pretty big. I think if it were its own city, it would be the 8th biggest in the US? Having said that, I would still take Harlem because you are in Manhattan. So, in 2005, you could probably get a retail turnkey brownstone for a 1-1.5MM. Now, I am seeing them go for 3-3.5MM. Would that money have gone as far in Brooklyn? Yes, but there was more subprime in areas like Bed-Stuy. I know the Harlem market well and there was no dip after the credit crunch, it just didn't go up for a couple of years/no new condo developments. 

I moved to Harlem in 2000. There were not a lot of restaurants and services then. I would say where the family property is in Brooklyn is like Harlem in 2000 from an amenities standpoint. Now, Harlem is like an extension of the Upper West Side. 

I know a couple of people in Harlem making a killing on Airbnb by renting out part of their buildings.

What is funny is that my wife and I like LA.