All Forum Posts by: Steve Duffy

@Nat C. Thanks very much- logical and very straightforward explanation. Greatly appreciated.

Was wondering the process for obtaining a finished basement permit in Nassau County, New York. Is it required to hire an architect or licensed contractor, or is this something I am able to do myself? Is that typically how people do it, or via an expediter? Not sure what the differences are and the easiest course of action. 

Also, any idea how much this should cost all in for permit, new survey, and hiring someone?

Any direction is appreciated.

Thank you.

Makes sense. Thanks much Scott!

Does not publishing hold up transfer of title/ownership if property is held in the LLC? i.e. will it reflect the LLC as not in good standing within NY?

I believe you need to publish in the county the LLC formation was created.

I hired  Fun and Grow a few months ago. These guys are the real deal. Everyone should use this company to expand their business. I don't know why somebody wouldn't. They were professional and organized. They took care of everything and walked me through the whole process. It was a pleasure to deal with Retrena and the rest of the team at Fund and Grow. I highly recommend them. 

Hi Pete:

Sent you an email- please let me know if you did not receive and or if you have any questions.

Regards.

7 Unit Multi-Family For Sale (12 CAP!!)

Upstate New York: Lake Huntington, NY

Ask: $310,000

Yearly Rent Roll: $58,740

Apt 1: $695

Apt 2: $675

Apt 3: $750

Apt 4: $675

Apt 5: $875

Apt 6: $600

Apt 7: $625

= $4,895/Mo

RE Taxes(includes sewer): $5,194

Gas: $4,661

Electric: $3,866

Trash($214/mo): $2,568

Snow ($75 each): $450/yr

Total Operating Expenses: $19,012

NOI: $39,728

This property is clean and turnkey. Seller needs to free up cash for larger deals.  Recent upgrades:

New Roof (~$20k)

New Hot Water Heater (~$5k)

New Windows

Updated units, except 1. In good condition but could use about $900 in upgrades.

Serious inquiries only. If you are interested let's tie up in contract contingent upon your inspection.  This property is good to go! Solid property, good condition, you won't be disappointed.

We are offering a 10% annual return on a secured note/deed.  We are looking for a total of $200,000.  Hold time is 2 years minimum(5 years maximum) as we turn the property around.  The deal is a 7 unit, multifamily in upstate New York.  My business partner and I have purchased similar properties in the area and are looking to replicate our system.

Any investor will be listed as additionally insured.

We prefer to also put up collateral ourselves on every deal and will be contributing $20k for the purchase.

Proformas available upon request.

In order to keep on schedule we would like to have all monies secured by August 3rd, 2018 the latest.