All Forum Posts by: Raza Rizvi

Hello,

I just purchased a 2 family house in the Bronx. It currently has one gas meter but electric is already divided between the 2 units. I would like to do the same for gas. I am getting a quote for approximately 10k. That includes a new boiler for the 2nd unit, 2 new water heaters, the plumbing for the split and the permits. In addition the architect needs to come up with plans, that is another 3K. Does this seem reasonable or am I being taken for a ride? 

Your feedback would be greatly appreciated. 

thanks @Andrew M.  I will look into it. Thanks 

I am looking for landlord software suggestions to collect rent, screen tenants, create leases, track maintenance expenses etc. Found rentalution.com - has anyone used it? Or something similar. Just trying to make my life easier since I have 7 units I manage now.

Thanks

Hello fellow investors, I have found a property in the Bronx that was advertised as a 3-family but the seller is claiming that it is zoned as a 2-family. In addition when I checked the town records it is showing as a single family home. Here is the reason for my confusion: 1. It has 3 electric meters (one for each floor) 2. It only has one boiler & one water heater All 3 apartments have full windows and lowest apt has 2 exits and is at garden level. There is a basement in addition to the 3 floors The house is priced like a 2 family but completely set up as 3. I will get my attorney to run the title report to see if it is actually a 2 family. Here are my questions: 1. Is it really hard to convert a 2 family to 3 in the Bronx? Anyone has any experience where I should start? 2. If it is zoned only as a single family, I feel I should walk away. Besides checking the county website & title, does anyone have any idea where to check if it is one or 2 family? The property has no Certificate of occupancy since it was built in 1901 but was just gutted out completely & set up as a 3 family. Obviously without proper permits. Any help would be appreciated. Should I pursue this or walk away?? Thanks!!

Hello fellow investors, I have found a property in the Bronx that was advertised as a 3-family but the seller is claiming that it is zoned as a 2-family. In addition when I checked the town records it is showing as a single family home. Here is the reason for my confusion: 1. It has 3 electric meters (one for each floor) 2. It only has one boiler & one water heater All 3 apartments have full windows and lowest apt has 2 exits and is at garden level. There is a basement in addition to the 3 floors The house is priced like a 2 family but completely set up as 3. I will get my attorney to run the title report to see if it is actually a 2 family. Here are my questions: 1. Is it really hard to convert a 2 family to 3 in the Bronx? Anyone has any experience where I should start? 2. If it is zoned only as a single family, I feel I should walk away. Besides checking the county website & title, does anyone have any idea where to check if it is one or 2 family? The property has no Certificate of occupancy since it was built in 1901 but was just gutted out completely & set up as a 3 family. Obviously without proper permits. Any help would be appreciated. Should I pursue this or walk away?? Thanks!!

Hello friends, I came across a property in the Bronx where the owner just wants me to pay off his mortgage & $6k lien & he will sign the deed over to me. The place also needs a gut renovation but I have experience on that end. I haven't done anything like dealing directly with an owner before where the property is not listed on the MLS and there no realtors involved so any help would be appreciated. What should I do besides hiring an attorney to do a title search? Also should I be looking for a specific attorney or anyone that deals with real estate be able to help me out? Really could use help on the homework regarding the title, liens, violations etc. Thanks!!

I am looking to purchase a multi-family investment property that brings me positive income. My budget is around $400-430K with 25% down & I have excellent credit. I am open to all neighborhoods (NYC/NJ/LI) as long as they are safe & easily rentable. Does anyone have any suggestions of areas I should target where the rents are high & taxes are reasonable? 

Thanks

Hello George-Hyuung W. let's meet up. I am looking for a partner in Long Island or the Bronx.

Hi Tim Costello ; please contact me. I am also an investor in LI & it would be great to pick your brain & bounce some ideas.

Hello friends, I am purchasing a 2 family investment property in Uniondale and was wondering how easy it would be to rent the 2 apts? They are both gut renovated. Any advice from locals or folks that work in the area would be really appreciated. Thanks!!