All Forum Posts by: Richard Herrera

Hello all,

I'm an out state investor from NY and would be looking to purchase a property in either Ohio or Michigan this year. Looking in the range of 15-30 units value add property. What are the areas in the state best for investment. My wife and I would be holding long term after some fixing up, upgrades and refinance. Also would be looking to hire a pmc so if you can recommend us some a good ones would be appreciated. 

Thank you.

With the abundance of office building available to grab in today's market, at a very low price where you could add value, are there any investor jumping on any good opportunity current as they come across one?. While some might feel is not a good time to invest in that space at the moment - I'm seeing lots of opportunity available and sellers are even willing to be very flexible and creative. For instance, I came across a great opportunity where is currently 100% leased with long term tenants in place.

The owner is willing to be flexible in terms of owner financing or master lease agreement. its over 27,000 SF btw.....reviewed financials and looks good with room for improvement. What are your take on this space for investment?

Hello All,

Has anybody ever created a land trust in NY, how did you do it? what forms you used? what steps did you take?. Can you fill out the forms and take it to the county to have it recorded? any help would be appreciated, I'm trying to set one up for a Subject to deal I'm currently working on.

You can try propertyshark.com it's FREE

Hi guys another subject to question. Almost closing on my first subject to deal but my concern is the "do on sale clause" once we transfer the deed over to my LLC name. Would it be better to create a land trust and have my llc as the beneficial or how would you do this deal so the mortgage company will not call this loan.
thanks

I would call, you will get an answer right away instead of waiting weeks if your letter makes them call you.

yeah I just talked to someone else at the water department first he wasn't sure then he went and asked someone else and said that I'm reponsible for the full lenth from the main pipe on the street to the curb stop and from curb stop to the house, should I be taking this to court because all the contractors I have brought are saying that they only do it from the curb stop to the house but not to the street because its the city that should do it.

thank you for your reply Bob, yeah the original main valve at the curb will be null because is seating next to a tree that the roots rapped around through out the years and can't get to it. So new valve will be installed for the new piping but I still don't get why the city said that the owner has to pay for for the repair that needs to be done on the street.

Hi all,

currently working on a deal with a house that has an issue with the main water pipe going into the house from the street. The city wants us to make a new piping going the opposite direction which is fine but they also saying that I have to do it all the way to the main valve on the street not the curbside, but in my opinion I think it should be my responsibility to run the piping from the house to the curbside valve not the street main valve because this should be done by the city. Is this something that the city should be doing or am I wrong? anybody has a similar issue. Any advised will be greatly appreciated.
Thanks

Hi All,

I would like to network with other investor in the areas shown above, I'm located in Westchester NY