All Forum Posts by: Steven Luttman

Hi @Catherine C. ,

Congrats on the acquisition. The best resource re NY's eviction moratorium will be your attorney handling the sale. Also periodically check the governor's website governor.ny.gov for updates.

As for the tenant, when negotiating the purchase you could stipulate that certain units be vacated prior to close. This then puts the onus on the Seller. The downside is if there are multiple interested parties you risk losing out to an offer that is less burdensome of the current owner. Were they on a lease previously? If so then review that document. As long as it does not stipulate upon expiration it auto renews for a certain length of time then they are on a month to month tenancy. After closing inform the tenant they are to vacate. Depending on how long they have occupied the unit they will be entitled to between 30-90 days notice.

Best of luck,

-Steve   

Hi @Brianca Hill. Showings are very much property dependent at the moment. You may have a nervous owner who prefers virtual showings, or as you mentioned tenants are also restricting access. The best success I've found is offering several dates/times for showings, emphasize that masks and gloves will be worn and that your group touring will be limited to just one person. The more you can demonstrate that you care about the owner & tenants well being the greater the likelihood of gaining entry. All the best, - Steve 

@John B. nice analysis. Do taxes include garbage expense? How about water & sewer? $150 a month for insurance feels light for non owner occupied at that price point. Best of luck on your journey, sounds like you're off to a great start. -Steve

Hi all,

Who are people using for real estate attorneys in the Capital Region, specifically Saratoga County? My needs consist of representation on residential acquisitions/sales and LLC formations.

Thanks! - Steve

I'm seeking recommendations on a roofer in Corinth (Saratoga County) NY. Thanks! 

I'm extremely grateful to @Ryan Vienneau for starting this thread along with all those who have contributed. I've found your thoughts very helpful.

A few have mentioned discounts for early/on time payments. Instead of a discount how about a credit to the tenant's security deposit? I'm envisioning two birds one stone, encourages prompt payment monthly while also increasing their incentive to return property in best possible condition upon completion on lease.

@Robert Schulmeisters anything additional learned about appliance rental deposits? On the surface it sounds like a legitimate strategy.   

@Andrew Caceres can you elaborate on the scope of work you are looking to have addressed? I may have a name or two I can pass along.

Hello BP! Who are people using for lenders in the Capital Region (Albany, Troy, Saratoga, Glens Falls)? Seeking recommendations for residential 2-4 units and commercial 5+. Thanks!

Hi Adam. Up until pretty recently I had some good friends living in Somerville. A few years back they brought me to a beerfest (perhaps at a civic center?). Great area, had a blast.

My office (SJ Lincoln Realty) is in Ballston Spa. I'd be happy to answer any questions you or your mom have.

All the best,

Steve

Hi @Steve Thorne I'd be interested to hear what progress you've been able to make so far?