I know it's a marathon, not a sprint, and I am in this for the long run, but I'm also eager to jumpstart the process!

I am in the process of buying my fourth unit but this situation is a new one for me!

It gives you better control over the process and helps you really understand the market.

Many lessons have been learned firstly is you can’t be too nice or trusting and second is, don’t wait to figure out the refinance and cash out process and until you are almost done with rehabbing the property because currently going through a very lengthy, cash out refinance ordeal at the moment as I’m trying to get financing terms finalized as we speak.

Even more interesting is the yield curve, which currently seems to be in the process of un-inverting (?)

We are working to help people evaluate their situation and manage properties while these court actions are in process.

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

Does it make sense to cheap out over the few thousand dollars it will cost to go through a proper escrow and title process?

Curious to hear how things turned out and whether any unexpected challenges came up in the process.

The process is relatively the same.