All Forum Posts by: Matt Liu

I am starting to grow as a real estate holding company primarily- getting into more commercial development eventually. Im looking to start using a name - "something realty" to stick to i guess because i like the sound of it and its less conspicuous than "development corp". Is it odd that i am more of a developer and management company but go by "realty"?

Thanks guys - I got it figured out. I can't believe the story about the fire. That's really unfortunate.

I can't believe this - I just realized that the house I bought on Friday still has no insurance!!! Fortunately there isn't much there since it's a shell to be rehabbed. But no!!!!

Is there any way I can order insurance online tonight until the business day tomorrow?

Also should I be worried about telling the insurance agent that I bought it without insurance and am buying it now? Will that trigger any red flags or costs?

Thanks!

Well how would I prove that I did not breach the agreement if say for instance he postpones depositing the checks. I have no proof then that I made that payments.

My private lender is having me sign a deed in lieu. If I understand correctly this means that if I default, he doesn't even have to foreclose he can just file the for the deed to transfer to him.

Now, what is stopping him from going and transferring the deed even without me defaulting (after I sign off on the Deed in Lieu)?

I am buying my first apartment building this winter. Any tips on how to do due diligence? I've seen every unit now with a contractor. We went over the exterior and mechanicals too. Should I hire anyone special for the boiler or roof or other given that it is a building not a house? Radon, bedbugs, anything like that?

I am buying my first apartment building this winter. Any tips on how to do due diligence? I've seen every unit now with a contractor. We went over the exterior and mechanicals too. Should I hire anyone special for the boiler or roof or other given that it is a building not a house? Radon, bedbugs, anything like that?

I have a handyman who has a clever way of ripping me off. He agrees to do a job for very cheap which makes me hire him, but then he doesn't do all the items we agreed on. How can I ensure this doesn't keep happening? Are there any strategies other than having him sign a SOW that will keep him on target? He's the kind of guy who responds more to positive incentives than legal paperwork.

I am looking at a 15-unit in a flat market area (Rochester, NY) and the seller is saying he paid 320k when the tax records show 290k. He says he "paid 30k additional outside of closing". Can I ask him to prove it somehow? Can I also ask him to provide receipts for the upgrade work he is claiming to have done.

I had a deal fall through due to the seller's poor title. After I spend 300 on inspections. The agent sent me back the deposit, double what I paid by mistake. I feel the right thing to do is tell him and send him back half. However I also feel a little like I got burned by the deal wasting money on inspection because they didn't do their research prior. What do I do?