All Forum Posts by: George Hermann

Just Google Bronx Pre-Foreclosure listings and you will see several places to get what you want. Personally, I use Property Shark.

Hi Jinyu,

It's always a little more complicated in a coop in NYC. First, you need to check the coop rules regarding subletting your apartment. Most boards restrict this. Second, check the flip tax the coop gets upon sale. (If there is none, you are very lucky). Next is the NYS and NYC transfer tax, and then broker fees. 

I would be happy to discuss your options and help you with this decision. Please PM me if you would like to discuss.

George

I can't help you with first hand facts, but in the hundreds of buildings I work with in New York City, they all lease. This should tell you something.

Hi Steve,

Well, the first step is to get your real estate agents license in New York State. Then interview with NYC based brokerages that have excellent training programs. Once you're there, you will find agents to work with that are experts in selling and buying condos and coops.

Hi Devon,

I would be happy to answer your questions about real estate investing in the Bronx. 

Hi Noble,

I suggest you take a look at my profile and see if what I do is in line with what you're looking for. If it is, let me know and we can start a dialog.

Baze,

I can help you. Contact me privately.

George

Hi Michael,

If you would only intend to work part time as an agent, it will most likely cost you more than you will make. Just having a license is of little use. However, an experienced agent can help you find and make deals, save you time, and be a great sounding board for you. Find one in New York and one in New Jersey. You will only pay a fee when a deal closes.

Steven,

I have a very good Landlord/Tenant attorney. If you're interested, PM me.

@Louis L. 

Rents for 3 unit multifamily's in the Bronx will not be in the $3,000 range so you need to adjust your proposition right away. There is also the question of how the property will be maintained on a daily basis (by you or PT Super)? Where do you work and how would you get to work from your new property in the Bronx? You need to address the complexities right up front to make a good decision.