All Forum Posts by: Randi Plevy

@Ken Yeung: Are you asking for the name of a Bronx property manager?  

Whether or not a Seller can "get out" of a contract comes down to what the contract says, period.  What does the inspection clause in the contract actually say?  Contrary to previous opinion, you can force a Seller to sell if they are defaulting by simply chainging their mind.  You must have a lawyer on this deal.  Please talk to your lawyer.  

Yes!  You absolutely must increase the security to match the monthly rent.  In fact, most boilerplate lease agreements have this provision.  Educate your tenant by demonstrating that you're a professional.  That's how professionals do it.  

It only becomes more difficult to evict if you are in the middle of an eviction proceeding and then you accept a partial payment.  

@Tony Tran: Tony, I have a colleague that specializes in this and she's amazing.  PM me for her details.  

@Pradeep Bhai: This is an emergent legal matter and it makes no sense whatsoever that you're "meeting" with your lawyer to discuss it at some time in the future.  This requires immediate action, your lawyer may need to send important legal notices to the Seller and/or file an LP in court.  We have telephones and emails so we don't have to wait a week for an office visit to our attorneys.  C'mon man.  

@Chris Holden: Congrats on getting your first deal done.  Unless the contract states that there are surviving representations, which is doubtful, there is no claim against the Seller.  As @Ryan Murdock points out, it is becoming more common for Purchasers to ask for estoppels from residential tenants, and not just commercial ones.  

@Jesus Ramirez @Nicholas Aiola

Jesus: I couldn't have said it better than Nicholas.  Once you are active, you should sit down with a CPA who specializes in entrepreneurship and real estate.  

@Jesus Ramirez: It is legal.  And I have a long list of buyers hungry for these deals.  Good luck!

@David Freeman: Are you sure you are consulting with attorneys that only practice real estate?  Some general practitioners do real estate transactions, but they will not likely understand your specific needs.  Do you have any deals lined up yet?