Monthly Archives: March 2012

If I live in Australia, can I purchase an NYC apartment to use when I’m in town and rent out the rest of the time?

Q: I live in Australia and want to purchase an apartment in NYC that my family can use when visiting, and that will then become part of a rental pool. What net return can I expect and, being an Australian citizen, can I borrow in the US? Read More.

What percentage broker’s fee do you charge for the rental of a penthouse studio in midtown?

Q: What percentage broker’s fee do you charge for a rental? This is for a penthouse studio in midtown. Read More.

I own a building on West 84th between Columbus and Amsterdam–how do I develop the property to maximize its value?

Q: I own a 5-story, 19/92 building on West 84th between Columbus and Amsterdam. If I fully renovate the units, what would a unit be worth? I also want to know what layout and room count would make it most valuable. Read More.

What words of wisdom do you have for me as I begin my real estate career?

Q: What should I watch out for in the beginning stages of my real estate career? What is the best way to build a steady relationship with clients so that my name spreads throughout the city of Chicago? Read More.

If I’m thinking about moving from Canada to New York City, what preliminary steps should I take?

Q: I am Canadian living in Canada and one day I would like to buy a small apartment in NYC. Besides the down payment, which I am assuming is 20%, what do I need to have to make this happen?  Thanks. Read More.

Should I buy now, or wait another year?

Q: I have about $85,000 I’m willing to put down on an apartment, great credit, and make $275,000 a year. I’m thinking about buying, but also considering waiting a year to get another bonus and taking the down payment to $150,000 or so. Any advice? Read More.

How do I obtain the beach parking pass in The Hamptons for the summer?

Summer is right around the corner and that’s no doubt the reason so many of you are inquiring about Hamptons beach permits. So, what do you need to know? Well, we’ve made a short video to cover some of the basics. You’ll find additional information at the links below. Just think—watching the video will take you one step closer to summer in the Hamptons! Who’s starting a countdown?… Southampton Village: http://www.southamptonvillage.org/departments.asp?id=1 East Hampton Village: http://www.easthamptonvillage.org/beaches.htm Southampton Town: http://www.southamptontownny.gov/content/760/762/782/1434/default.aspx East Hampton Town: http://www.town.east-hampton.ny.us/HtmlPages/TownClerk/TownClerkForms.html

What do I do if I’m behind on my mortgage payments?

Q: I haven’t paid my mortgage in over a year. They haven’t sent us any foreclosure notices yet, but when they do, I was wondering how I should respond and what to do to get loan modification.  Read More.

Who is responsible for Radon Testing when it comes to the passing of title on a property?

Q: I’m attempting to buy a second home in Southwest Florida. The home is 7 years old, and passed the engineer report inspection with flying colors; however, the Radon gas registered at 6.7, which is above the EPA limits of 4.0. The seller refuses to fix the problem, which would cost between $1,500 and $3,000. I called the State of Florida, as well as the bank, and other agencies to see what I should do, and I get the feeling that this is a “buyer beware!” situation. Radon is the second largest lung cancer carcinogen, right behind smoking, and, according to the EPA, causes 20,000 deaths per year. Can you advise me of the realtor’s, bank’s, or state agency’s responsibilities when it comes to the passing of title? I can’t believe how critical it is that this Radon test is … Read More.