All Forum Posts by: Steven Luttman

@Mike Adams I think @Ryan Vienneau would be useful to run this by, as he is a top property manager in the Cap Region.

@Kaitlyn Recny you should clarify lease status prior to closing. If a signed agreement outlining terms and security deposit is not provided by seller your attorney should be able to draft a tenant estoppel for signature. Should tenants elect not to pay rent it will be difficult to initiate an eviction without documentation.

@Ryan Thyrring & @Nicole Butt

Copy and pasted event posting for next meetup below. 

Saratoga Springs Real Estate Meetup #11
07/20/21 07:00PM - 09:00PM America/New_York
493 Broadway Saratoga Springs , New York 12866

"Come grab a cocktail or a coffee at Palette Cafe in Saratoga Springs for our next monthly meet-up! This event is open to any and all local real estate investors or professionals looking to learn from and network with like-minded individuals in the area. We typically kick off the event with a brief presentation on a real estate related topic. We then break up to openly and casually network with one another!"

@Ryan Thyrring there's a great monthly meetup in Saratoga led by @Allison Keib I would definitely encourage you to check out. Hope to see you there. -Steve

Commercial loan based solely in building's revenue is an option. How about a co-signer, is there a friend/family member with great DTI you could pay to be a borrower along with you? Are there any items on your credit report that could be paid off? Something like a $400 a month car payment with only a few installments left may be worth partially depleting your savings if the result is a stronger personal monthly cash flow. Good luck, let us know how you make out. -Steve

@Charles Carroll congrats on getting started. Both areas are very competitive when it comes to multifamily, especially for anything near rent ready condition. Get your financing lined up in advance and make sure you're clear on your goals, because when an opportunity comes on market you'll want to be able to act quickly.   

@Adam A. If you have not already tried to buy them out I would start there.

Municipalities are finally starting to roll out rental assistance programs for tenants impacted by the pandemic. See if they would be willing to apply for this. My understanding is it does require tenant cooperation, however is worth looking into.

Steve

@Andy Mejia sounds like you need a temporary easement. A lawyer should be able to draw one up for you fairly easily.

@Nicole Green Legacy Title does a nice job, give them a try.

@Albert Tiburcio great job, congrats. What's next?