All Forum Posts by: Les Jean-Pierre

I use word of mouth which has not been too effective. I have a handy guy but sometimes I get big jobs. No property manager as it is a three family.

Biggest issue is repairs. I don't live near my property and have had a problem with contractors not calling me back.

I am pretty much doing the same deal right now and it seems worth it to me. I don't want to deal with chasing down a deadbeat tenant. In NY, there is interest on the judgment and the interest accrued is pretty much paying the lawyer.

Seems like a shake down to me. I would not worry too much until the papers come in the mail.

Don't see how you will get around that one unless your plumber can get a permit quickly. Just make sure your pipes won't freeze. Con Ed was very slow with me on something I thought could have been dangerous to my tenants.

You might want to look at estate sales too. In Woodmere, I have seen a couple of houses that were torn down that were inherited. Again, the taxes might make the area unattractive to a person inheriting it. Also, there is a tax lien sale in Febraury for Nassau County. I have never gone but saw it on the county website.

Welcome to the site. I grew up in Woodmere. We still go out to Long Beach when we visit my folks. I live in the city and have toyed with the idea of moving back to LI. Because of the expense and the taxes, if I were looking to invest, I would look in the areas with the best school districts. You will always hold value in those areas. One thing about this area is that you only have to get it right once and you are in a pretty good spot. Good luck.

I can agree with your assessment. My family used to go to the OBX and one time we rented this really nice place on the water that had everything you could ask for. You never had to leave the premises if you did not want to. I was of the opinion that once you found a really nice place that you were happy with, why change houses.

Related to anyone in the armed forces? I think the Naval Federal Credit Union has a zero down mortgage program.

Where is the building located? I live in NYC and depending on the condition and choice of finishes, some say $75k per floor for a total gut. But, that changes even between Brooklyn and Manhattan(I live in Harlem). If outside of the city, I would cut the price significantly. Also, what condition is the property in?