Interested in 883 Park Place & similar properties...

Asked by zanmet, Brooklyn, NY Thu May 24, 2012

Very new to the process. Just got pre-app by chase for
$400,000.Really interested in 883 Park Place.
I'm looking for an investment property, and this seems to fit the bill (3 family under 500k).
Can anyone recommend a checklist of ques i should ask the agent?
what is the best & detailed way to gather info on this or any other property.
Forgive my ignorant ques. I'm just a cautious person who wants to minimize risk.
Detailed answers welcomed :)
Thanks

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8
Mitchell Fel…, Agent, Brooklyn, NY
Thu May 24, 2012
BEST ANSWER
Dear zanmet:

Go on http://www.PropertyShark.com and pull out the details on the property you are considering, you get lots of info there.

Then go onto NYC.gov and connect to Building Information System (BIS), you can use this link: http://a810-bisweb.nyc.gov/bisweb/bsqpm01.jsp
Building Information System will show you the certificate of occupancy if there is one and also if there are any violations on the property (caution...sometimes there may still be a certificate of occupancy on the property even if it states that none are available!).

Then you can go back to NYC.gov and connect to The Automated City Register Information System (ACRIS), you can use this link:
http://www.nyc.gov/html/dof/html/jump/acris.shtml

As far as questions for the agent...
1) What is the annual rent roll?
2) What are the annual expenses?
3) What is the net operating income?

If I can be of further assistance or if you need help locating a good property to purchase please let me know. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote
Gina Mazza, Agent, Staton Island, NY
Thu May 24, 2012
that property has been withdrawn.
email me at
gmazza804@aol.com
and i'll send you others
1 vote
Daria Kolomi…, Agent, Brooklyn, NY
Wed Feb 26, 2014
Good Afternoon! If you are still looking for a property, please, fill free to contact me. Have a great day!
0 votes
Sarit Davidov, Agent, Brooklyn, NY
Wed Feb 12, 2014
If you are still interested in purchasing a Home Contact me at 718-664-0295
0 votes
Sarit Davidov, Agent, Brooklyn, NY
Wed Feb 12, 2014
I have over 65 Houses in Brooklyn Great prices. Give me a call at 718-664-0295
0 votes
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Tue Jun 12, 2012
Good afternoon, zanmet,

I've been helping first-time buyers for 22 years as a mortgage professional.

First steps:

1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for. You will find much better service from a Local Mortgage Banker than at any of the BIG BANKS.

2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Good luck!
Trevor Curran
NMLS #40140
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu May 24, 2012
Why not simply consider working with an agent of your own; he/she can provide any other suitable listings, any ncessary information, schedule showings, etc.
0 votes
M, , Brooklyn, NY
Thu May 24, 2012
Call me 9176825133. I am an agent and can help you with process.

Thanks
Mark. May
0 votes
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