All Forum Posts by: Carl C.

Do not do this. I get very irritated with continuous mailers and texts and phone calls all from the same people. If I ever decide to sell, it will not be to someone who has annoyed the piss out of me for years. You may need to accept that you aren't getting this property. 

NYC becoming Detroit? In what world? My walk to and from work each day (I'm back in my office since September) shows multiple active construction sites on buildings being built and renovated. Crowded sidewalks, busy restaurants and traffic like there was never any pandemic. Yes, there have been some problems in the last few years, largely thanks to a mayor that no one likes. Are any of them forever problems? Nope. I'm sure some financial services have and will shift to lower cost areas. That's not surprising and it doesn't mean the death of NYC. We aren't a one trick pony. It's interesting to hear people all over the country telling me (not on this forum but in real life) that they keep hearing NYC is a ghost town and no one is there and everything is shut down and how sad that all must be. I'm telling you all from the corner of Madison and 60th where I'm sitting right now, you'd be hard pressed to convince me that anything has changed here. 

Not a specialist but I'd assume whatever your short term capital gains rate is. 

This is temporary. As a resident of midtown, I'll tell you the neighborhood is almost back to normal. Every so often something happens where people say, NYC is dead! And every time it comes back. Sure restaurants and bars are operating at reduced capacity but given the recent nice weather, people are ready to get back to normal. Last night I had a 45 minute wait to get into a restaurant. 

Good point. That's a tough one. 

Good luck. We had a hell of a time finding a Bank when we bought our Coop. Ultimately used BofA but they were a nightmare. They have been sending a lot of notices recently with offers to refi at crazy low rates. We decided it isn't worth it for us. 

We paid cash for one of our properties two years ago. We have not needed to refinance and pull cash out yet but it's nice to know it's there. If you can do that, it's nice to avoid extra fees associated with hard money.  

This would be a definite pass for us if we were evaluating it. Your cashflow even with billing back the utilities is not worth you time. 

We don't use buyers agents and we don't sign exclusivity agreements. Why tie yourself down and limit your options. We like to speak directly with the sellers agent or ideally, the seller. Our experience has been that buyers agents have 100% of the time misunderstood or misconstrued something and ruined negotiations.  

Sounds like a good project. Nice work!