All Forum Posts by: Randi Plevy

Very cool.  Just started shopping for a property in the same area.  Looking for a great mountain view at a reasonable price.  Let me know if you hear of anything.  

I see this request a lot and I'm always a bit flummoxed because all of the real estate attorneys and title companies I work with know what wholesalers are and how to represent them.  More importantly, is it a residential or commercial property?  What borough?  Do you already have a deal under contract or are you just shopping?    

With a CEMA, you only pay  mortgage recording tax on the "new money," which is the amount above the old loan which you are essentially consolidating with the new loan.  The concept is that you already paid the mortgage recording tax on the "old money" and you needn't pay it again.  There are some additional costs associated with a CEMA, but generally speaking, you will save enough money on the mortgage recording tax to make it worth your while.  

Just adding my voice to the chorus for hiring a LT attorney in your area.  They know the system and the judges.  Your tenant will not be able to play the attorney.  Unfortunately, I don't believe you will be entitled to attorney's fees (no written lease agreement), but line up a well screened tenant now to help pay for the cost.  Good luck.  

Just adding my voice to the chorus for hiring a LT attorney in your area.  They know the system and the judges.  Your tenant will not be able to play the attorney the way she has played you.  Line up a well screened tenant now to help pay for the cost.  

@Michelle Hashmi: try judicialtitle.com.  

You are not likely to get an interest rate that low again.  Build up your equity in the primary while you shop for a great investment.  Good luck!

@Ray T.: Hey Ray.  Good luck with your apartment search.  You should know that most coops in NYC have severe restrictions on subletting and airbnb.  Most coop proprietary leases state that renting any part of your apartment without approval from the coop board is a violation of the lease and could be grounds for evicting you from the building.  Coops don't like investors because they are a community of shareholders with common goals, and those goals don't jibe with letting strangers into the building to stay over for a few nights.  

@Lindsey Orr: In New York, check out judicialtitle.com.  They have a lot of real estate forms.  

Sent you a message.