All Forum Posts by: Les Jean-Pierre

Contact me offline and I can send you some links.

Two servicers buy the liens. They then have to initiate a foreclosure. You can buy at the auction. So, for the liens going on soon, don't expect them to be foreclosed for a few years given the backload in the NY courts. Go to the DOF website and it explains most of it.

You cannot buy tax liens at the NYC tax lien auctions. Only two big servicers can. They then can foreclose on the lien three years later. 

I am a nice guy too and hate confrontation. However, being landlord forced me to have difficult conversations. You can just say this doesn't really work for me or something. If you have to get blunt, get blunt. It gets easier each time. Just get to the point and go from there.

I know a broker in Atlanta that might be able to help. Shoot me a mail.

I don't know what HASA is but I manage a couple of Section 8 units. NYC Homeless Services or something like it called me out of the blue and asked if I was willing to rent to displaced people. The department covers 100% of the rent. Rents are not high. A family of 3/4 would get around $1500.

How long did it take to clean out?

I live in NYC but they have to come out to your place and inspect it. You have to fill out some forms. Because I have an older building, it took more time but once you are in the system you are ok. Here you can get your payments from Section 8 direct deposits. Word of caution in that they do annual inspections that depending on the inspector can be ridiculous and you can't raise the rent that much.

Is the property in NYC and under some sort of rent regulation? Just because there are no leases who knows if the owner is doing things correctly.

Hi,

My family owns a three family in East Bed-Stuy. We are pushing on 40 years. Lot of equity and I can say that we only have gotten yellow letters from two individuals. They send them out quarterly. So, I don't know what people are looking at as criteria but the high equity/no mortgage box was checked.