All Forum Posts by: Alex Furini

Darren,

Replacement windows are 90% of the time going to be custom orders. I have used Crystal Windows in college point with good success at a nice price point.

I think you are correct. The main issue lies with the installation at that height and probably needing a riggers license or similar. I am not aware of a forum, but perhaps others here are.

Best of Luck

Alex Furini, RA

Darren,

As Im sure you are aware now, manufacturers can have very different price points. I'm assuming based upon the warranty these prices are for material and installation. When I have replaced windows previously, I purchased the windows direct from the manufacturer and hired the labor to install. This came out much cheaper than the quotes you indicated, but requires you have a good handyman/installer on hand. Note, this will not provide the warranty. I did not use any of the manufacturers you list, but there are others out there with lower price points and good quality. Best option is to get multiple quotes and level them against each other.  

Best of Luck,

Alex Furini, RA

@Alison Pels 

With this alteration, You will be complying with Multiple Dwelling law which introduces requirements for ADA and sprinklers to name a few. Definitely get the zoning and ADA requirements taken care of before you move forward as they can be the most restrictive when it comes to conversions like this. 

Regarding getting the most bang for your buck with the aesthetic parts of the renovation. I find stone countertops, cabinets, stainless steel appliances (with washing machine) and a washer dryer can increase the rent roll. Hardwood floors are very nice and depending on the condition and how long you plan to hold the property are a great investment. Engineered wood floors look and function well, but cannot be refinished like hardwood floors can. These are just a few pointers, your architect should be able to provide guidance on these issues as well as help you understand price points for each of these. If you know where to go and what to buy, you can get away paying a similar price as the cheap materials at the wrong place.

Best of luck!

Alex Furini, RA 

James,

Based upon my experience the turn over is just as fast as the background reports. Normally the same day I believe. The other difference between the two are the rentprep report is paid by you(collect the fee separate) and the smartmove is paid and authorized directly by the tenant. So it really just depends on how fast the tenant authorizes and pays for the report. Both are great and Ive used each many times. 

Best of Luck

Alex Furini, RA

@James Kirby, I use the Rentprep package which includes Background, Eviction, Credit Score pass or fail, and the option to have Rentprep do the phone verification's. They have two options, smartmove and the rentprep background report. I prefer the rentprep background report as I am fine with receiving a pass fail credit report and not the entire credit report.  With the Rentprep report you can select all the above as options to include. I have used the rentprep smartmove in the past, but only after a tenant didn't pass and requested (at their expense) that I re-look into the reasons of why their credit failed. Hope that helps.

Best of Luck

Alex Furini, RA

I do a hybrid version of what has been discussed so far. I accept applications from any tenants who want to apply. I only review once all apps and backup documents from a group have been submitted in entirety. I review the applications and determine who I want to move forward with. At this point I request my $50 per applicant fee which covers the credit/background checks and a little extra for my time.  For me pre-screening, in person meeting, my application and backup material gives me a full picture of the tenant. The credit/background just serves to confirm there is nothing hidden from me. By doing this, I don't have to accept fees from people I otherwise would not rent to. My costs are covered and applicants are happy to not pay fees for an apartment they may not even be considered for. Also I use rentprep as was mentioned previously in this thread. They will also call previous landlord and employer if you choose that specific service. I find it a nice option for the price. 

@John Smith, Yes you would need to separate the apartments. It sounds like you have a duplex apartment over a garden apartment. Is the internal stairway which is currently open between the garden and Duplex apartments or internal between the 2nd/3rd fl duplex? If it is a 2 family on the most current CofO then this should be fairly simple. Feel free to PM to discuss in more detail. Always do your due diligence in situations like these.

Best of Luck

Alex Furini, RA

@Michelle Backer, I'm not a financing expert by any means. That being said from my experiences and observations purchasing properties in Brooklyn, small down payments aren't as easy as other parts of the countries. Some brokers wont even show a place if your not putting down 20%. This has just been my experience and I'm sure there are properties which accept a smaller down payment. It just makes an already difficult search even harder. Keep looking and see what you can find. I do know people who have had success with less than 10% down payments in NJ for what its worth.

Best of Luck

Alex Furini, RA

@Hanna Edwards gave a very good explanation of the process. Having separate meters is great and for a long term property hold is a solid investment. The real money saver as she mentioned is when you have separate heating and hot water for each unit on those meters. Many times homeowners think this is not possible due to the space limitations adding a water heater and boiler to an existing mechanical room presents. However there are many  economical solutions which can fit in the existing space if laid out properly. Feel free to PM if you have questions.

Best of Luck,

Alex Furini, RA

Pat, 

I sent you a PM with some info. 

Best of Luck,

Alex Furini, RA