All Forum Posts by: Chavonne R.

Yes, a judgment lien on property in NY is 10 years. You will have little problem winning this matter but as @Chris Soignier pointed out collecting may not be easy. Sorry. That guy gives those of us who do use lenders a bad reputation. Always pay back your lenders.

@Robert P. that's great. Major interest is better than none. In the future, maybe add a 'family line' to your phone plan and have a phone/number designated specifically for real estate/ landlord/tenant matters, so that your personal isn't tied up. Or a phone with lots of minutes on it maybe.

Oooohhh, this is risky.  I don't know landlord/tenant laws in CA but NY can be really stringent. What out of pocket 'extra' would this cost you and would it be worth it? I mean are you required to do a short term lease based on her estimate of the time it would take? File a Cert. of Occupancy? Insurance? What if someone is hurt on your property? Is she qualified or just guessing she can do this? Are her "entourage of people" actual subcontractors or just her out of work family members, some of whom may 'crash' at your place? Yah.....I would get real specific with her regarding time, effort, people.  She could potentially drag this reno/rehab out for a year or more or to poor selling times.

Hi. Can someone answer this scenario: I'm thinking of buying a short sale house for about 100K pending approval. I've seen pictures only so far from the tenants and the house is dated (but it looks mostly style wise versus anything else) It is clean and in good/livable condition. Other houses in the area are selling for around mid 300 - 400K (with 2 or 3 in the 500K). Actually one of the 500K sells were the closest property to the house and smaller in square footage. If I wanted to purchase, wait the appropriate 'seasoning' time and then refinance for line of credit, what kind of appraisal could I be looking at? Somewhere towards the fair market value of mid 300Ks without a drastic or unneeded reno?  

@Les Jean-Pierre, Just type '@' and then start typing the person's name. a box with their full @name will pop up. You can click that box and continue with your post. 

Thanks @Kenneth Levy. I will definitely be taking you up on that bounce ideas offer in the near future. 

Thanks for the advice @Kenneth Levy. Greatly appreciated. Glad you're through the worst of it. 

Thanks @Marlon Wilson!

Welcome @Stephanie Simmons! I'm a fellow nyc investor (newbie) currently looking for buy/holds, rehab/flilps. Keep looking for the perfect deal - You have access to MLS - and take action. As I'm in the NY area, maybe we can partner up on something in the future and help each other out. Good Luck!

New Hero.