All Forum Posts by: Aladdin M.

Hi everyone,

Any ideas and guidance welcomed.

I bid on an REO being auctioned on a popular auction site.

All of the processes seem to be running well until I received the lein search and found that there were code violations declaring the property uninhabitable.

I believe that the issues found are repairable, but it will take a significant amount of money relative the the value of the property.

Any suggestions on how to proceed?

-A

Do you still have these lease agreements handy or updated ones?

I would truly appreciate it.

Hi Kevin,

I grew up in the Upper-East Side. It's currently going through a huge revitalization. It's gone from pimps, pushers, and street walkers to restaurants, antiques, and boutique furniture stores. My guess is that you bought in the Bay Towers. I used to live there as well (HOA was $800 when I was there). You should definitely calculate if you are losing after your tax write off and determine your exit strategy from there.  That area is going to continue to appreciate.  If you are losing after your tax write off, then you are losing out on opportunities elsewhere.

DM me if you want to know more about the area.