June 17, 2025 • 30 mins
The real estate landscape in New York is undergoing significant changes, and understanding these shifts could save you thousands of dollars whether you're renting, buying, or selling property.
At the forefront of these changes is the newly implemented FAIR Act, which fundamentally alters how broker fees work in rental transactions. Despite widespread confusion, the rule is actually straightforward: whoever hires the broker pays the fee. If you're a renter seeking assistance, you'll pay the broker fee. If a landlord hires a broker to find tenants, they—not the renter—must cover that cost. This legislation brings much-needed transparency to transactions that historically lacked clarity.
For property owners with tenants who want to sell, the podcast offers crucial advice: build positive relationships rather than pursuing costly evictions. With tenant protection laws in New York being exceptionally strong, eviction proceedings can drag on for years, costing landlords substantial amounts in legal fees while receiving zero rental income. The smarter approach? Work collaboratively with tenants, potentially helping them relocate or offering reasonable compensation. This strategy typically costs less than lengthy legal battles and results in faster, more profitable sales.
The Department of Buildings has also stepped up enforcement, actively monitoring real estate listings for unpermitted work. When purchasing property, always request floor plans and property cards during your title search—these documents reveal illegal modifications and can serve as powerful negotiation tools. Taking photographs throughout renovation processes provides essential protection against potential violations later.
Ready to stop renting and start building equity? Many tenants are surprised to discover they qualify for mortgages. Connect with us to explore your options and take that first step toward homeownership—where you're sleeping and making money simultaneously through property appreciation and equity building.
Have questions about navigating New York's complex real estate environment? Reach out to our family business where we pride ourselves on transparency, expert guidance, and lifetime relationships with our clients that extend well beyond closing day.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:08):
Hello everyone, welcome to Sudo with Bias
Podcast, and we are excited tobe here.
Guys, it's a beautiful day.
The summer's around.
Well, we're in the summeralready.
We're having a lot of fun.
Speaker 2 (00:18):
Oh yeah, it's getting hot, cold hot.
Speaker 1 (00:21):
I'll tell you something.
One thing I always say aboutthe weather in New York is
bipolar, just like most peoplein new york.
It's like always up and down,those feelings, right.
So I feel like the weather'sjust like that one day it's cold
, one day it's hot.
It's like man, it's like.
I feel like the weather alsogot emotions yeah, it never
stops, man it never stops crazy.
So before we start, guys,quickly, you know this is a
(00:42):
family business, right, me,andrew, chris, and we have other
realtors as well.
But one thing is it's a familybusiness and we have our
preferred lender, which is Heidi.
She's our preferred lender.
She's also my wife.
She has tons of programs over95 loan programs and more.
Anything out there she mostlikely have it.
It's a family business.
We're here to assist.
It's a family business.
We're here to assist.
It's a mom and papa shop, likethey call it.
(01:03):
One stop, one shop.
Right, we're here to assist.
Also, guys, feel free to askany questions, any real estate
questions.
That's what we're here for,angelo to answer any questions
at all times, right, and we alsoare like an open book.
If you need anything, anycontacts, any referrals, we're
out there to also refer you.
Great people and people that wework with.
Speaker 2 (01:22):
Absolutely For everything.
Anything that you couldpossibly think of in real estate
, we got you covered.
Speaker 1 (01:26):
Yeah, we got your back for sure.
And one thing about us is, likeany transaction we do with you,
this is a lifetime relationship.
We're here Even after you close, buy, close or don't buy or
sell, we're still here.
We're like a lifetime with allour clients as well.
Speaker 2 (01:41):
Yeah, absolutely.
And just one thing to mentionbefore we get off that topic is
that every vendor that we workwith, we always try to get the
feedback from the client to seehow they performed.
Speaker 1 (01:49):
Yes, One thing about it is very important is customer
service.
We make sure that clients aretaking care of buyers, sellers
or any clients that we work with.
We make sure you're taken careof and we always reach out to
make sure everything's good withyou.
Speaker 2 (02:01):
Absolutely.
Now let's start it off with oneheck of a topic that has been
making headlines the FAIR Act.
And this FAIR Act just cameinto play, I believe, either
this week or last week.
I have to double check.
But what ends up happening isthat it was this week, it was
this week, correct?
So this week landlords mustcover the cost of brokers they
(02:23):
hire rather than passing the feeonto renters.
So what does that mean?
Usually, when you went toStreet Easy and stuff, there
used to be a little thing calledbroker fee and whatnot, and it
used to be like the landlordhired a broker, a broker, and
they passed on the expense oflike the broker fee to the
tenant through Street Easy andall of that, and then you would
(02:45):
go there and then you would paythe broker their fee for, you
know, having you.
Speaker 1 (02:50):
I think there's a huge confusion with it.
Right, because, yes, before youcome to the broker for rent,
this is all about rentals.
Right, they will come.
So, basically, the renter willcome to the listing and they
will pay the broker.
Right, but the broker was hiredby the landlord.
Now the way it works is likethis Whoever hires the realtor
(03:11):
or the broker to help you assistyou in finding a rental For
instance, if it's the renterthat's looking for and the agent
is helping the renter therenter is responsible to pay the
broker's fee.
The renter is responsible to paythe broker's fee.
If the landlord hires thebroker, the landlord is
(03:32):
responsible for it.
In other words, a broker cannotcharge a fee to the renter if
the landlord hire him.
Exactly, it actually is aviolation act if a broker
charges a fee to the renter ifthe landlord was the one to hire
him.
So that's where the confusionis that most renters believe
that's it.
We don't pay no broker fee.
No, you're incorrect.
You do pay broker fee if youare the one to hire the broker
(03:54):
or the realtor to assist you infinding a renter.
You only pay no broker fee ifyou're going to a landlord and
the landlord has a realtor.
So that's where the confusionis at Right, because everyone
I'm in a few group chats andeveryone's like, ah, that's it,
we don't need to pay no morebroker fee because it's with the
renters.
No, you do pay if you hire therealtor or the broker to assist
(04:17):
you in finding a home.
So just be clear that if thelandlord hires the broker, the
landlord is responsible for thebroker fee.
If the renter hires the clientrenter hires the broker he is
responsible to pay that.
What is happening in the realestate industry, which I like a
lot everything now is more indetail, everything is more in
(04:38):
writing, everything is moreprofessional.
Right Now, agents will need tobe more professional and letting
them know their role in thistransaction.
Right Now, agents will need tobe more professional and letting
them know their role in thistransaction right, in sense of
if I'm representing the landlord, I don't charge you a fee, but
if I'm representing you as arenter, I do charge you a fee.
And another good thing is thatnow most broker will have to
(04:58):
disclose their role, mostimportantly, and also their fee.
So now it's more transparencyon every transaction, and I
think before there wasn't somuch transparency and a lot of
brokers were getting away withcertain things right.
But the reality is that what Ilike about real estate now in
New York is more transparencythan anything.
Now it's more detailed.
(05:19):
The transaction is in detailhow much you're getting paid,
what is your role as a realtorin this transaction, which it's
huge In New York.
People are always trying tohide around and I'd never really
like to do business like that.
I'd like for you to know everydetail in your transaction.
I try my best to be astransparent as possible and be
very detailed on thistransaction so you can know
(05:40):
exactly what's my role.
And one thing I've learned,also as a realtor you need to
know your role as a realtor,right, I cannot come and talk
about any legal questions.
Right, as the attorney, Icannot come and talk to you
about any mortgage questions.
I could just tell you hey, Iadvise you to speak to your
attorney.
I advise you to speak to yourmortgage broker.
I feel like we all need to knowour role in the transaction.
(06:02):
You cannot overstep a rolethat's not yours.
What I'm liking a lot is thatNew York, little by little, is
changing a lot of laws and it'schanging a lot in this aspect of
being more professional andthey are involving all this, so
it could be more professionaland I think it will end this
myth of every broker not beingso transparent, because now you
have no choice Because they havethis myth of realtors like not
(06:23):
not being so transparent becausenow you have no choice because
they have this myth of realtorsor brokers not being transparent
, realtors or brokers doingthings incorrectly, not really
being transparent with theclient.
Now it's no choice.
Now you have to right or youwill get called to 311 of your
new york city or you get aviolation you don't want.
No violation will be have yourlicense suspended exactly
(06:44):
Exactly.
Speaker 2 (06:44):
So just to summarize that right, the TLDR is that
whoever hires the broker isresponsible for the commission.
If the landlord hires thebroker, he's responsible for it.
If you, the renter, hire abroker, you're responsible for
the commission.
That simple.
Speaker 1 (07:01):
It's that simple.
I just wanted to get more intoit.
Speaker 2 (07:03):
Exactly commission.
Speaker 1 (07:05):
That's yes, it's that simple.
Speaker 2 (07:06):
I just wanted to get more into it.
Exactly I like to.
I get passionate about thisexactly I love real estate, I
breathe real estate absolutelyand it goes to show you, like
you know, like you said, moretransparency, very
straightforward approach, likeyou don't need to wonder like
who's paying that fee or what'shappening.
I don't know how it's going towork in street, easy, I believe
now they're going to have toremove that like broker fee or
whatever.
Speaker 1 (07:25):
Yes On that yeah.
So, like Zillow, you know allthis is.
It's like the real estate.
If you notice the past year ortwo, there's a lot of laws that
are coming into real estate guys, which is good because it
protects the public.
And I like that a lot.
It protects the public.
It protects you know.
It's more transparency.
Now it's more detail everytransaction, and now
everything's in writing right,which I feel like our career as
(07:48):
realtor.
As the days go by, angel, onhonest opinion, I think it's
becoming more professional.
Speaker 2 (07:52):
I agree, everything is becoming more professional.
Like you said, things arebecoming a lot more transparent.
Having talked talking aboutlike renters and stuff, we can
also, like now, switch thediscussion to another talking
point that we have here, andthat is, if you are thinking
about selling your property andyou have a tenant in there, how
(08:14):
should you go about that process?
Speaker 1 (08:15):
I have about 10 years and I think that my approach
that I got a lot of success atis advising the seller to be as
lenient, as nice, as polite aspossible to the tenant.
Why I say that Tenants have alot of rights.
In New York City it gets to apoint like some tenants take
(08:36):
advantage of the system right,and some tenants become selfish
and don't realize that reality.
This landlord depends out ofthe payments to make their
mortgage payment.
The reality is this I alwaysrecommend the sellers to always
build a nice relationship withrespect and honesty and try to
work something out with thetenant to help them move out.
Why I say that?
(08:57):
Because I have seen tenantsthat have been evicted and they
could take up to two to threeyears depending where is this
happening at, especially in NewYork City, and I think a lot of
tenants do take advantage of thesystem when it comes to that.
I do think that you know,sometimes you got to look at it.
Sometimes I think in life and Ialways say that to my wife you
got to look at both sides.
You cannot just focus on oneside.
(09:18):
What I mean by that is like,yeah, he's the landlord.
Everyone thinks landlords arerich and filthy rich, which not
all of them are.
But you got to look at bothsides.
Would you like it to be done toyou?
Not paying the rent?
You go into court.
Have in mind you're not payingrent right for these tenants.
I'm not paying rent.
This landlord has got to paythe mortgage, got to pay
(09:38):
attorney fee, got to pay thewater, regardless insurance,
property taxing, and the listgoes on.
Is it fair to be doing that toa landlord?
that's the real question.
That's what I think you know.
I have right now a client umthat he actually have a tenant
and he has a tenant and thetenant actually doesn't want to
leave.
He's giving him a hard time,he's not paying rent and now he
(10:00):
requested 25 000 just becauseyou know it's unfortunate.
Now he's trying to takeadvantage of just because you
know it's unfortunate.
Now he's trying to takeadvantage of it because he knows
that the system is going totake longer.
But I advise my client to worksomething out with them where
both sides will be happy.
You know, $25,000 is a littlebit steep, but they're working
it out.
I'm hoping and praying thatthey come to an agreement.
(10:21):
But the best route, guys, toall the landlords and homeowners
work it out with the client,because it's either you're going
to give it to them or you'regoing to give it to the
attorneys mortgage insurance,property taxes, water, and the
list goes on.
So it makes more sense to workit out.
Work something out wherethey're happy, right what I've
done too, andrew.
I have told landlords todefinitely come and pay their
(10:44):
new place that they're moving to.
At least a broker's fee, atleast one month of rent, right
Something where they feel likethey're being helped as well,
because some landlords, you know, aren't the best as well,
because you got to look at theother side as well.
Some landlords are slumlordsright, so you got to also look
at that side that tenants dohave right.
You know tenants sometimes getupset because you're not
providing us the service, butwe're paying rent right.
(11:05):
So I understand that point aswell.
So the best thing I advise toeveryone is work something out
with the tenant.
You know, don't go through thatroute of attorney.
Don't go through that route ofgoing to court.
It's not a great outcome.
I'm telling you that right now.
You know all these attorneyswant to pay off free and they,
you know they still go with this.
Oh, it's COVID, it's stilldelayed, and all this.
(11:27):
So you know you don't want togo months and months without
receiving a rent, you know.
So it's best to always worksomething out with the tenant.
That's what I advise at alltimes.
Speaker 2 (11:38):
Hit it right on the nail Like you basically want to
be as nice as possible totenants because if not it's
going to cost you a lot moredown the line.
Yeah, because, honestly, withhow you said that there's so
many rights for tenants in newyork, it only favors you to be a
good landlord in new york.
(11:59):
Yeah, you shouldn't get intobuying buildings and stuff if
you know that the cash flowthat's going to come in there
it's not going to be good enoughfor you to be.
Like you know being a goodlandlord Like you don't want to
be struggling to be a landlord.
You should know your, yourmargins.
Talk to your broker, whoeveryou're working with, to like
make sure that the numbers makesense for you.
(12:19):
Because you want to be a goodlandlord.
You want to have a good amountof cash flow to say, if they
need something, a repair doneand stuff like that, you're not
panicking to try and get thefunds.
You know you have enough income.
I agree with you 100%.
Speaker 1 (12:31):
So it's good.
I had this other client about ayear ago.
He came to me.
He's like nah, watch me, getthis tenant out and I'm going to
evict this tenant.
It tenant, it's actually in thebronx.
Is this um client?
and I told him listen I'mtelling you, man, out of
experience, don't go that route.
Yeah, he got over a year tryingto evict this guy.
He was, you know, trying toevict him.
(12:51):
He put an attorney and all he'sbeen doing is paying legal fees
and it's just been a delay anddelay.
So now the client's calling meand telling me alex, I should
have listened to you.
I was like listen, man, youknow it happens.
You got to learn out of it.
But the best route, you know,is come to an agreement with the
tenant.
You know where both sides arehappy.
Speaker 2 (13:08):
Yeah.
Speaker 1 (13:09):
Right, and tenants out there, you know, be as nice
as possible to landlords, right.
You know you got to treat eachother the way you want to be
treated.
That's the treat.
What I recommend guys, worksomething out with the tenant,
be as nice as possible to thetenants and it's the only way
you're going to be able to sellyour property.
So I've been really good withthat.
I actually just came from alisting appointment just now.
There's a tenant.
(13:29):
I was sweet and nice to her andthe lady was very nice.
They are also asking me to helpthem relocate.
So to all those homeowners andsellers out there that want to
sell their property but you havetenants in there, right, if
they have a lease, of course youhave to respect the lease right
.
By law, you can also buy outthe lease as well.
To all the homeowners out there, what we offer is that we could
(13:50):
come in and say there is nolease, right, even if it's a
lease as well, we can also letthe client know if they're open
for you to do a buyout on thelease.
But if there is no lease, whatwe do to these tenants, we also
help them relocate and, ofcourse, if you probably cover a
fee or something for them.
But we work something out whereboth sides are happy.
We help the tenants relocate,we help you sell the property
(14:11):
for top dollars and everyonewill be happy at the end.
So we offer that for all thetenants out there, all the
landlords, homeowners out therethat have properties with
tenants and are scared to sellthe property, right.
So you know, as long as youhave a good relation with the
tenant, we'd speak to them andwe try our best to meditate it
where everything is a peacefultransaction, not stress-free as
(14:32):
possible.
But we walk you through it, butwe help the tenant relocate.
More importantly, we make surethat tenant has a place to move
to, because we don't want toleave anyone homeless.
That's one thing I don't.
I don't do and I don't practiceat all.
Speaker 2 (14:50):
Absolutely, we always try to be as accommodating as
possible for renters wheneverwe're working with them.
We also float the idea like,hey, why not just become a house
owner yourself?
You know, you know, it's funny,you mentioned that.
Speaker 1 (14:57):
So we actually had one time a tenant, um, that
wanted they actually were movingon.
They were like you, you knowwhat, man, let's just buy
something.
You'll be surprised, guys, toall the tenants out there, right
, all the first-time buyers Ilove to help first-time buyers
You'll be surprised that onceyou give all your documents to,
for instance, to Heidi topre-approval, you'll be
(15:17):
surprised how much you qualifyfor is out there.
Heidi actually helped thistenant.
We actually found a place.
We got her a single family.
The lady thought she didn't everqualify.
She thought the worst and whenshe came to see she qualified to
buy a house, she had the fundsto buy a house.
She bought a house and to thisday she tells us thank you, you
know, now she's not renting, shedon't have a landlord Every
(15:39):
year like, hey, renew the lease,hey, you got to move out.
So to all those tenants outthere, guys, I recommend you to
get pre-approved.
You have nothing to lose to getpre-approved.
You actually got a lot to win.
Why, andrew?
Because, let's say you don'tqualify, heidi will prepare you
to qualify you.
Heidi has been working withclients two to three years,
helping them prepare to be ableto purchase the American dream.
Like they say Purch.
(16:08):
Like they say purchase a home,so tenants out there, first-time
buyers or anyone out, there,get yourself pre-approved.
Speaker 2 (16:10):
You have nothing to lose.
You actually got to gain morethan anything.
Well, let's say it's the bestinvestment, because then you
don't have to worry about newownership and what happens with
your apartment and all of that.
If now the person coming in isgoing to become a slumlord or
anything like that or whatever.
Speaker 1 (16:21):
You're just in control of your own property you
know one thing buyers alwaystell me buyers that buy the
first time property and I wasone of them, by the way why I
did not do this before I shouldhave been.
I should have buy a house along time ago, but most of us
just sit around and just be.
You know, you start doubtingyourself.
In reality, you have no ideawhat's out there for you unless
(16:44):
you go for it.
So to all those buyers outthere, all those people that
potentially want to behomeowners, go for it.
You have no idea how muchexcitement and so much memories
that you're going to build inthat house yeah, absolutely.
Speaker 2 (16:55):
And and a property is also basically like a piggy
bank because you're puttingmoney into it through the
principal when you pay everymonth and when you come to sell
it, you're going to get thatmoney back, like you're not
wasting it in rent, just goingnowhere, right, every time you
make a payment it's going to goto the principal, meaning you
(17:15):
got more equity.
So when you sell it or if youtry to do something with the
equity, you have it there andit's also appreciating.
Speaker 1 (17:22):
So let me ask the public wouldn't you want to
invest into an investment whereyou're sleeping and you're
making money?
Just think about that you'resleeping and making money.
Who don't want to sleep andmake money?
yeah, all right you buy aproperty, you're sleeping and
it's making money as long you'redoing your payments, you know.
(17:44):
And one thing about it it goesup in value.
The properties probably coulddrop, market could crash, god
forbid but it goes right back upand it goes up to even double.
I see a lot of homeowners thatbuy a property for 300 and now
they're selling for seven$800,000 guys.
Speaker 2 (17:59):
Yeah, my friend, his home.
They bought it for around, Ibelieve, $400,000 back in the
early 2000s and now that verysame home in Mott Haven is worth
$900,000.
Speaker 1 (18:14):
Unbelievable Over 100%.
Speaker 2 (18:17):
Wow, a lot of profit, a lot of profit, but they're
keeping it because you knowthey're going like.
This is like insane, right Likenow it's getting gentrified
here.
Speaker 1 (18:26):
My Haven yeah, my Haven in the Bronx.
Oh my God, it's changed so much.
Yeah, I grew up in thatneighborhood.
Speaker 2 (18:33):
Especially in Port Morris.
In Port Morris, all of that new, all of the industrial
buildings and whatnot, they'rebeing turned into lofts and
apartments, like really niceones as well.
Yeah, so a lot of people, a lotof young professionals, are
moving down there, and I knowthat you wanted to talk about
the department of building aswell yeah, department of
(18:56):
building.
Speaker 1 (18:58):
I deal a lot with department of building.
I'm involved um a lot of rent,a lot of fixing properties.
I'm involved with architectengineers.
I'm involved a lot with them.
But one thing I would say aboutdepartment of building make
sure you're tracking, like, say,the work you do throughout the
process.
Like, take pictures, takevideos.
Right, have your contractor dopictures and videos.
(19:19):
Why do I share that with you?
Because I say you do a jobright and you're telling them
listen, I did all this, but youdon't know what happened behind
that wall, right, but if youhave pictures and video, it will
help you.
Um, I recently encounter um aninspector I won't say where was
the department of building thatsaid that we didn't do a certain
job that he wanted, exactly howhe wanted it done.
(19:41):
Good thing is that my architectactually advised me to take
pictures throughout the process,because this happened as a
professional.
It can happen to anyone.
Anyone can make a mistake,angel.
But for your records, anyonethat works with the department
of building, right, and you'repulling out permits and all this
work I recommend you to tellyour contractor, your plumbing
electrician, take picturesthroughout the process.
So if they come back to you andsay, hey, you didn't do this, so
(20:04):
you don't have to break thatwall and show them exactly what
you did, right, if they requestit.
You have pictures and processof it, right?
Just have in mind that.
Also, it's best to always doyour properties with permits
with architect.
It saves you a lot of headaches, they're giving you a lot of
fines.
They're catching a lot ofpeople with stop work orders.
It actually goes bad for youwhen you get caught during that
(20:24):
process of doing work illegallyand not doing it the correct way
.
Speaker 2 (20:28):
Yeah, because we've seen a lot in the market that
there's markets, there's certainlistings in the market where we
go like that was a flipper whogot caught, most likely yeah
there's a lot of flippers outthere that are getting caught.
Speaker 1 (20:49):
New York City, washington County, it's not the
same the same.
Now it's like I've been alsohearing this um department of
building.
Now I've been hearing, right,it's rumors that they're
actually going on the mls onzillow, looking at properties
when agents come to list it andthen they come and hit you with
violation.
I actually just recently wentin contract in the property with
a for our client, angel inOrange County, right, if I'm not
mistaken.
Yeah, it came back on the titlereport.
Speaker 2 (21:06):
The seller had to pull out permits for an updated
kitchen, updated bathroom, theelectrical and the lights,
because they didn't do it bypermits.
Speaker 1 (21:14):
Yes.
So they hit the homeowner withviolation and fees.
But how did he get caught?
He didn't get caught doing thejob, he caught during because
the the agent, which we all doput it up on zillow.
Yeah, it happens, guys.
This is I've been noticingdepartment of building is doing
their job.
You know they want a piece ofthe pie, I guess they would say,
(21:34):
but it's just doing their job,right, they're trying to catch
everyone out there that's notdoing things they get.
And then also, if you sit downback and it Angel, it actually
protects the public.
Why?
Because you did work in theproperty without permit.
We don't know if it was up tocode.
Speaker 2 (21:48):
Right.
Speaker 1 (21:49):
And now, when our client, for instance, move in
there, the electrical is up tocode.
Now it's going to pass, right?
It's going to be safe for ourclient, right?
We don't know, because you know.
One thing I noticed is that yougo to Home Depot, everyone is a
contractor, everyone's aplumber, everyone is electrician
, and when you come to see thework, it's none of it is up to
(22:10):
code and it's not safe to ourclients.
It's not fair or safe to ourclients.
So, moving forward, guys,everyone that works, I recommend
you, any work you do to yourproperty, I recommend you to use
the palm in the building, do itthe correct way.
Hire the professionals to dothe work.
Also, when you speak to aprofessional, speak to two to
three professionals.
(22:30):
What I mean?
Speak to the two to threearchitect, two to three
electrician, plumbers, becauseeveryone has different feedbacks
, everyone has different feesand you will see who's working
with good faith with you.
That's what I do a lot.
Speaker 2 (22:42):
Yeah, it's whoever you feel the most comfortable
with that.
You feel like you know you cantrust this person.
Yes, and at a reasonable priceas well.
Like you got to balance thosetwo out.
If you're thinking of, you know, updating your home, like Alex
said, do everything by permitwhere it's going to come back to
you.
If you're selling a home andthe department of buildings
(23:04):
catches you which right now theyare very, very on top of their
game it's going to cost you.
So if you have things that aremodified in your home and you're
trying to sell them, best betis to kind of see if you did any
modifications on your home andtry to bring it up to code to
get the best bang for your buck.
(23:24):
Because if you're selling yourhome and you have something
modified in the home and thedepartment of building catches
you, you're not going to get topdollar.
You're going to have to go backto the drawing board and fix
whatever you did or get it up tocode or whatever it needs to be
.
And that's the case going onright now with a lot of homes,
(23:47):
especially in Westchester.
Speaker 1 (23:48):
Yes, I've been noticing.
One thing I really want to talkabout.
It's about when buyers ordertitle report.
Speaker 2 (23:56):
And floor plan.
Speaker 1 (23:58):
Yes.
So I want to get in detail whatI mean by that.
Yeah, of course, every buyer,because every bank would not
lend unless they have titleinsurance, right?
So you have to order a titlereport when you're buying a
property.
Yeah, but I think this is whatI'm going to share.
It's a good tip, right?
It's a good insight, like Icall it.
So I recommend every buyer,when you buy your property,
(24:19):
order floor plans of theproperty.
Why do I share that?
I think that's huge.
I've noticed a lot of buyersbuy property and no one orders
floor plans.
I'm going to recommend you guysto get as much history, as much
information of your property.
Why do I share that with you?
Because if, tomorrow, you wantto legalize anything inside the
(24:41):
house, and if you get the cityinvolved into your house, angel,
if something in that house isnot legal, you're going to get
hit with all of that that youneed to legalize right from the
city.
So the city expects you that,when you buy your property, do
the full research, full historyof the property.
Why I share that with you?
(25:02):
Just recently, angelo, one of myclients, bought a two-family.
The good thing is that I orderthe floor plans.
I always ask my title companyto order the floor plans.
It came out that the extensionthat was done in the house there
was an extension.
It was actually a deckextension, which is most of the
stuff that is illegal in theproperties is usually the decks.
(25:23):
He did an extension to thehouse.
It was a cement extension tothe house.
What a deck right for theclient for the two family came
out to be illegal.
The other thing is that when weordered the floor plans we saw
also that there was a bathroomin the basement that wasn't
legal.
We also came across that wallswere taken down.
(25:44):
So now I was able to negotiatewith the seller to get my client
a better deal.
Yeah Right, because a lot ofthis stuff is not legal in the
house.
You're selling me a house andyou're not disclosing honesty on
this property.
And I had the client run thefloor plans of the house.
So one thing you know had theclient run the floor plans of
(26:04):
the house.
So one thing you know make sureyou order the floor plans right
.
And I'm going to share anotherbig thing.
Not all houses have floor plans.
Sometimes these floor plans areso old the apartment building
probably lost it.
Don't have it.
But most of these houses someof them don't have floor plans.
So don't be scared if you don'tcome across a floor plan, right
, because some of them don'thave floor plans.
So don't be scared if you don'tcome across a floor plan right,
because some of these housesdon't have floor plans.
But if I recommend, when youorder your title report, moving
(26:25):
forward to all the buyers, orderfloor plans.
It's going to save you a lot ofheadaches in the future.
It's going to help you a lot.
It's going to give you actuallythe history of the house.
It's going to let you knowwhat's legal, what's not legal
inside the house.
So order floor plans every timeyou order your title report.
You will tell me thank you onceyou decide to do any extension
inside the house, any room youwant to do.
(26:46):
Additionally, you want to seeif the basement is lit.
You want to see why this househas three bathrooms and it's
supposed to be one.
All this would come up thesefloor plans.
I actually, in Contra, recentlygot a property, had it was a
single family with threebathroom.
I knew the basement wasn'tlegal, the bathroom, but I would
(27:06):
have thought that this, thefirst floor, was legal.
So if you don't have this isanother thing if you do not have
floor plans, make sure youorder the property car, the
property car.
So this house is actuallyunique.
This house is a property inworcester county.
It was a single family, hadthree bedroom and three
bathrooms, right.
But the property that had nofloor plans at all but it had a
(27:30):
property car and the propertycar said it was three bedrooms,
one bath okay so basically, Ihad to legalize the other two
bathroom, which I did, but I didthe okay.
All the information I got fromthe property is huge because it
would save you a lot.
So when I came to do the floorplans, I already knew that two
bathrooms weren't legal and Iwas able to legalize it quickly
(27:51):
because I was able to get theproperty card and with the
property card I was able to knowthat it's three bedrooms and
one bath.
Even though there was no floorplans, I was able to do the
floor plans for the house nowand now we have three bedrooms,
which was originally legal, andnow we have three bathrooms.
That was originally legal ofthe house.
Speaker 2 (28:07):
Right, I know that the.
What do you call it?
I know that your client wasvery happy with that.
Yes, you were able to help himwith getting all of those
bathrooms basically legalized.
Speaker 1 (28:17):
Yes, good thing there was no floor plans on the house
but there was a property card.
So when you do your you orderyour title report make sure the
property card is there or thefloor plans.
The property card will tell youeverything that's legal inside
the house.
It's nice.
It will give you at least agreat idea of what's legal,
what's not legal but, the floorplan was more detailed.
Speaker 2 (28:36):
Does the property card also show how many bedrooms
are in the?
Yes?
Speaker 1 (28:39):
Bedrooms, bathroom.
It tells you, if it's gas, whatwas built on everything they
say they have a legal deck.
It tells you everything in theproperty card.
Speaker 2 (28:48):
It's just a description, right.
Speaker 1 (28:50):
It's a description of the entire house Exactly.
It even tells you it's HVAC gas.
It's very detailed, theproperty card.
So I recommend you guys, whenyou order your title report,
right, of course, order yourmunicipals, of course, check
your liens, which title willalways do, but make sure you ask
the title agent.
Speaker 2 (29:08):
please order your floor plans and property car and
if you're not too sure, likemaybe you want to put a fence
around there for the outsideorder also, your survey yes,
I've always do a survey.
Speaker 1 (29:20):
People don't do service to, probably just to
save money.
You'd be surprised where yourline is at.
Guys want to wrap this up.
I want to tell all the fathershappy father's day.
Out there, you know, I've beennoticing more fathers are coming
up for the kids and it makes mehappy because I'm like that
with my kids.
My kids are everything to me,which is levi and lexi yeah,
they're my world.
Happy father's day.
And before I leave, I actuallyleave.
(29:42):
I invited me to the school.
They had like a father's dayevent and the teacher almost
brought me tears because shetold me something that my son
shared with me.
He told her he wants to be abusinessman like his father and
that touched me because I'vebeen like begging god to please
push my son to that direction.
So you know, I hope God putshis hands in, like he has for my
son, and pushes my son to bethe next businessman.
Speaker 2 (30:06):
There you go and the family.
Speaker 1 (30:07):
That's beautiful, All right guys, thank you so much.
Thank you for watching Sudowith Bias.
We're here for any questions.
Please like subscribe.
Thank you guys.
See you all till next time.
Bye guys, goodbye, bye guys.
Hello everyone, welcome to Sudo with Bias
Podcast, and we are excited tobe here.
Guys, it's a beautiful day.
The summer's around.
Well, we're in the summeralready.
We're having a lot of fun.
Speaker 2 (00:18):
Oh yeah, it's getting hot, cold hot.
Speaker 1 (00:21):
I'll tell you something.
One thing I always say aboutthe weather in New York is
bipolar, just like most peoplein new york.
It's like always up and down,those feelings, right.
So I feel like the weather'sjust like that one day it's cold
, one day it's hot.
It's like man, it's like.
I feel like the weather alsogot emotions yeah, it never
stops, man it never stops crazy.
So before we start, guys,quickly, you know this is a
(00:42):
family business, right, me,andrew, chris, and we have other
realtors as well.
But one thing is it's a familybusiness and we have our
preferred lender, which is Heidi.
She's our preferred lender.
She's also my wife.
She has tons of programs over95 loan programs and more.
Anything out there she mostlikely have it.
It's a family business.
We're here to assist.
It's a family business.
We're here to assist.
It's a mom and papa shop, likethey call it.
(01:03):
One stop, one shop.
Right, we're here to assist.
Also, guys, feel free to askany questions, any real estate
questions.
That's what we're here for,angelo to answer any questions
at all times, right, and we alsoare like an open book.
If you need anything, anycontacts, any referrals, we're
out there to also refer you.
Great people and people that wework with.
Speaker 2 (01:22):
Absolutely For everything.
Anything that you couldpossibly think of in real estate
, we got you covered.
Speaker 1 (01:26):
Yeah, we got your back for sure.
And one thing about us is, likeany transaction we do with you,
this is a lifetime relationship.
We're here Even after you close, buy, close or don't buy or
sell, we're still here.
We're like a lifetime with allour clients as well.
Speaker 2 (01:41):
Yeah, absolutely.
And just one thing to mentionbefore we get off that topic is
that every vendor that we workwith, we always try to get the
feedback from the client to seehow they performed.
Speaker 1 (01:49):
Yes, One thing about it is very important is customer
service.
We make sure that clients aretaking care of buyers, sellers
or any clients that we work with.
We make sure you're taken careof and we always reach out to
make sure everything's good withyou.
Speaker 2 (02:01):
Absolutely.
Now let's start it off with oneheck of a topic that has been
making headlines the FAIR Act.
And this FAIR Act just cameinto play, I believe, either
this week or last week.
I have to double check.
But what ends up happening isthat it was this week, it was
this week, correct?
So this week landlords mustcover the cost of brokers they
(02:23):
hire rather than passing the feeonto renters.
So what does that mean?
Usually, when you went toStreet Easy and stuff, there
used to be a little thing calledbroker fee and whatnot, and it
used to be like the landlordhired a broker, a broker, and
they passed on the expense oflike the broker fee to the
tenant through Street Easy andall of that, and then you would
(02:45):
go there and then you would paythe broker their fee for, you
know, having you.
Speaker 1 (02:50):
I think there's a huge confusion with it.
Right, because, yes, before youcome to the broker for rent,
this is all about rentals.
Right, they will come.
So, basically, the renter willcome to the listing and they
will pay the broker.
Right, but the broker was hiredby the landlord.
Now the way it works is likethis Whoever hires the realtor
(03:11):
or the broker to help you assistyou in finding a rental For
instance, if it's the renterthat's looking for and the agent
is helping the renter therenter is responsible to pay the
broker's fee.
The renter is responsible to paythe broker's fee.
If the landlord hires thebroker, the landlord is
(03:32):
responsible for it.
In other words, a broker cannotcharge a fee to the renter if
the landlord hire him.
Exactly, it actually is aviolation act if a broker
charges a fee to the renter ifthe landlord was the one to hire
him.
So that's where the confusionis that most renters believe
that's it.
We don't pay no broker fee.
No, you're incorrect.
You do pay broker fee if youare the one to hire the broker
(03:54):
or the realtor to assist you infinding a renter.
You only pay no broker fee ifyou're going to a landlord and
the landlord has a realtor.
So that's where the confusionis at Right, because everyone
I'm in a few group chats andeveryone's like, ah, that's it,
we don't need to pay no morebroker fee because it's with the
renters.
No, you do pay if you hire therealtor or the broker to assist
(04:17):
you in finding a home.
So just be clear that if thelandlord hires the broker, the
landlord is responsible for thebroker fee.
If the renter hires the clientrenter hires the broker he is
responsible to pay that.
What is happening in the realestate industry, which I like a
lot everything now is more indetail, everything is more in
(04:38):
writing, everything is moreprofessional.
Right Now, agents will need tobe more professional and letting
them know their role in thistransaction.
Right Now, agents will need tobe more professional and letting
them know their role in thistransaction right, in sense of
if I'm representing the landlord, I don't charge you a fee, but
if I'm representing you as arenter, I do charge you a fee.
And another good thing is thatnow most broker will have to
(04:58):
disclose their role, mostimportantly, and also their fee.
So now it's more transparencyon every transaction, and I
think before there wasn't somuch transparency and a lot of
brokers were getting away withcertain things right.
But the reality is that what Ilike about real estate now in
New York is more transparencythan anything.
Now it's more detailed.
(05:19):
The transaction is in detailhow much you're getting paid,
what is your role as a realtorin this transaction, which it's
huge In New York.
People are always trying tohide around and I'd never really
like to do business like that.
I'd like for you to know everydetail in your transaction.
I try my best to be astransparent as possible and be
very detailed on thistransaction so you can know
(05:40):
exactly what's my role.
And one thing I've learned,also as a realtor you need to
know your role as a realtor,right, I cannot come and talk
about any legal questions.
Right, as the attorney, Icannot come and talk to you
about any mortgage questions.
I could just tell you hey, Iadvise you to speak to your
attorney.
I advise you to speak to yourmortgage broker.
I feel like we all need to knowour role in the transaction.
(06:02):
You cannot overstep a rolethat's not yours.
What I'm liking a lot is thatNew York, little by little, is
changing a lot of laws and it'schanging a lot in this aspect of
being more professional andthey are involving all this, so
it could be more professionaland I think it will end this
myth of every broker not beingso transparent, because now you
have no choice Because they havethis myth of realtors like not
(06:23):
not being so transparent becausenow you have no choice because
they have this myth of realtorsor brokers not being transparent
, realtors or brokers doingthings incorrectly, not really
being transparent with theclient.
Now it's no choice.
Now you have to right or youwill get called to 311 of your
new york city or you get aviolation you don't want.
No violation will be have yourlicense suspended exactly
(06:44):
Exactly.
Speaker 2 (06:44):
So just to summarize that right, the TLDR is that
whoever hires the broker isresponsible for the commission.
If the landlord hires thebroker, he's responsible for it.
If you, the renter, hire abroker, you're responsible for
the commission.
That simple.
Speaker 1 (07:01):
It's that simple.
I just wanted to get more intoit.
Speaker 2 (07:03):
Exactly commission.
Speaker 1 (07:05):
That's yes, it's that simple.
Speaker 2 (07:06):
I just wanted to get more into it.
Exactly I like to.
I get passionate about thisexactly I love real estate, I
breathe real estate absolutelyand it goes to show you, like
you know, like you said, moretransparency, very
straightforward approach, likeyou don't need to wonder like
who's paying that fee or what'shappening.
I don't know how it's going towork in street, easy, I believe
now they're going to have toremove that like broker fee or
whatever.
Speaker 1 (07:25):
Yes On that yeah.
So, like Zillow, you know allthis is.
It's like the real estate.
If you notice the past year ortwo, there's a lot of laws that
are coming into real estate guys, which is good because it
protects the public.
And I like that a lot.
It protects the public.
It protects you know.
It's more transparency.
Now it's more detail everytransaction, and now
everything's in writing right,which I feel like our career as
(07:48):
realtor.
As the days go by, angel, onhonest opinion, I think it's
becoming more professional.
Speaker 2 (07:52):
I agree, everything is becoming more professional.
Like you said, things arebecoming a lot more transparent.
Having talked talking aboutlike renters and stuff, we can
also, like now, switch thediscussion to another talking
point that we have here, andthat is, if you are thinking
about selling your property andyou have a tenant in there, how
(08:14):
should you go about that process?
Speaker 1 (08:15):
I have about 10 years and I think that my approach
that I got a lot of success atis advising the seller to be as
lenient, as nice, as polite aspossible to the tenant.
Why I say that Tenants have alot of rights.
In New York City it gets to apoint like some tenants take
(08:36):
advantage of the system right,and some tenants become selfish
and don't realize that reality.
This landlord depends out ofthe payments to make their
mortgage payment.
The reality is this I alwaysrecommend the sellers to always
build a nice relationship withrespect and honesty and try to
work something out with thetenant to help them move out.
Why I say that?
(08:57):
Because I have seen tenantsthat have been evicted and they
could take up to two to threeyears depending where is this
happening at, especially in NewYork City, and I think a lot of
tenants do take advantage of thesystem when it comes to that.
I do think that you know,sometimes you got to look at it.
Sometimes I think in life and Ialways say that to my wife you
got to look at both sides.
You cannot just focus on oneside.
(09:18):
What I mean by that is like,yeah, he's the landlord.
Everyone thinks landlords arerich and filthy rich, which not
all of them are.
But you got to look at bothsides.
Would you like it to be done toyou?
Not paying the rent?
You go into court.
Have in mind you're not payingrent right for these tenants.
I'm not paying rent.
This landlord has got to paythe mortgage, got to pay
(09:38):
attorney fee, got to pay thewater, regardless insurance,
property taxing, and the listgoes on.
Is it fair to be doing that toa landlord?
that's the real question.
That's what I think you know.
I have right now a client umthat he actually have a tenant
and he has a tenant and thetenant actually doesn't want to
leave.
He's giving him a hard time,he's not paying rent and now he
(10:00):
requested 25 000 just becauseyou know it's unfortunate.
Now he's trying to takeadvantage of just because you
know it's unfortunate.
Now he's trying to takeadvantage of it because he knows
that the system is going totake longer.
But I advise my client to worksomething out with them where
both sides will be happy.
You know, $25,000 is a littlebit steep, but they're working
it out.
I'm hoping and praying thatthey come to an agreement.
(10:21):
But the best route, guys, toall the landlords and homeowners
work it out with the client,because it's either you're going
to give it to them or you'regoing to give it to the
attorneys mortgage insurance,property taxes, water, and the
list goes on.
So it makes more sense to workit out.
Work something out wherethey're happy, right what I've
done too, andrew.
I have told landlords todefinitely come and pay their
(10:44):
new place that they're moving to.
At least a broker's fee, atleast one month of rent, right
Something where they feel likethey're being helped as well,
because some landlords, you know, aren't the best as well,
because you got to look at theother side as well.
Some landlords are slumlordsright, so you got to also look
at that side that tenants dohave right.
You know tenants sometimes getupset because you're not
providing us the service, butwe're paying rent right.
(11:05):
So I understand that point aswell.
So the best thing I advise toeveryone is work something out
with the tenant.
You know, don't go through thatroute of attorney.
Don't go through that route ofgoing to court.
It's not a great outcome.
I'm telling you that right now.
You know all these attorneyswant to pay off free and they,
you know they still go with this.
Oh, it's COVID, it's stilldelayed, and all this.
(11:27):
So you know you don't want togo months and months without
receiving a rent, you know.
So it's best to always worksomething out with the tenant.
That's what I advise at alltimes.
Speaker 2 (11:38):
Hit it right on the nail Like you basically want to
be as nice as possible totenants because if not it's
going to cost you a lot moredown the line.
Yeah, because, honestly, withhow you said that there's so
many rights for tenants in newyork, it only favors you to be a
good landlord in new york.
(11:59):
Yeah, you shouldn't get intobuying buildings and stuff if
you know that the cash flowthat's going to come in there
it's not going to be good enoughfor you to be.
Like you know being a goodlandlord Like you don't want to
be struggling to be a landlord.
You should know your, yourmargins.
Talk to your broker, whoeveryou're working with, to like
make sure that the numbers makesense for you.
(12:19):
Because you want to be a goodlandlord.
You want to have a good amountof cash flow to say, if they
need something, a repair doneand stuff like that, you're not
panicking to try and get thefunds.
You know you have enough income.
I agree with you 100%.
Speaker 1 (12:31):
So it's good.
I had this other client about ayear ago.
He came to me.
He's like nah, watch me, getthis tenant out and I'm going to
evict this tenant.
It tenant, it's actually in thebronx.
Is this um client?
and I told him listen I'mtelling you, man, out of
experience, don't go that route.
Yeah, he got over a year tryingto evict this guy.
He was, you know, trying toevict him.
(12:51):
He put an attorney and all he'sbeen doing is paying legal fees
and it's just been a delay anddelay.
So now the client's calling meand telling me alex, I should
have listened to you.
I was like listen, man, youknow it happens.
You got to learn out of it.
But the best route, you know,is come to an agreement with the
tenant.
You know where both sides arehappy.
Speaker 2 (13:08):
Yeah.
Speaker 1 (13:09):
Right, and tenants out there, you know, be as nice
as possible to landlords, right.
You know you got to treat eachother the way you want to be
treated.
That's the treat.
What I recommend guys, worksomething out with the tenant,
be as nice as possible to thetenants and it's the only way
you're going to be able to sellyour property.
So I've been really good withthat.
I actually just came from alisting appointment just now.
There's a tenant.
(13:29):
I was sweet and nice to her andthe lady was very nice.
They are also asking me to helpthem relocate.
So to all those homeowners andsellers out there that want to
sell their property but you havetenants in there, right, if
they have a lease, of course youhave to respect the lease right
.
By law, you can also buy outthe lease as well.
To all the homeowners out there, what we offer is that we could
(13:50):
come in and say there is nolease, right, even if it's a
lease as well, we can also letthe client know if they're open
for you to do a buyout on thelease.
But if there is no lease, whatwe do to these tenants, we also
help them relocate and, ofcourse, if you probably cover a
fee or something for them.
But we work something out whereboth sides are happy.
We help the tenants relocate,we help you sell the property
(14:11):
for top dollars and everyonewill be happy at the end.
So we offer that for all thetenants out there, all the
landlords, homeowners out therethat have properties with
tenants and are scared to sellthe property, right.
So you know, as long as youhave a good relation with the
tenant, we'd speak to them andwe try our best to meditate it
where everything is a peacefultransaction, not stress-free as
(14:32):
possible.
But we walk you through it, butwe help the tenant relocate.
More importantly, we make surethat tenant has a place to move
to, because we don't want toleave anyone homeless.
That's one thing I don't.
I don't do and I don't practiceat all.
Speaker 2 (14:50):
Absolutely, we always try to be as accommodating as
possible for renters wheneverwe're working with them.
We also float the idea like,hey, why not just become a house
owner yourself?
You know, you know, it's funny,you mentioned that.
Speaker 1 (14:57):
So we actually had one time a tenant, um, that
wanted they actually were movingon.
They were like you, you knowwhat, man, let's just buy
something.
You'll be surprised, guys, toall the tenants out there, right
, all the first-time buyers Ilove to help first-time buyers
You'll be surprised that onceyou give all your documents to,
for instance, to Heidi topre-approval, you'll be
(15:17):
surprised how much you qualifyfor is out there.
Heidi actually helped thistenant.
We actually found a place.
We got her a single family.
The lady thought she didn't everqualify.
She thought the worst and whenshe came to see she qualified to
buy a house, she had the fundsto buy a house.
She bought a house and to thisday she tells us thank you, you
know, now she's not renting, shedon't have a landlord Every
(15:39):
year like, hey, renew the lease,hey, you got to move out.
So to all those tenants outthere, guys, I recommend you to
get pre-approved.
You have nothing to lose to getpre-approved.
You actually got a lot to win.
Why, andrew?
Because, let's say you don'tqualify, heidi will prepare you
to qualify you.
Heidi has been working withclients two to three years,
helping them prepare to be ableto purchase the American dream.
Like they say Purch.
(16:08):
Like they say purchase a home,so tenants out there, first-time
buyers or anyone out, there,get yourself pre-approved.
Speaker 2 (16:10):
You have nothing to lose.
You actually got to gain morethan anything.
Well, let's say it's the bestinvestment, because then you
don't have to worry about newownership and what happens with
your apartment and all of that.
If now the person coming in isgoing to become a slumlord or
anything like that or whatever.
Speaker 1 (16:21):
You're just in control of your own property you
know one thing buyers alwaystell me buyers that buy the
first time property and I wasone of them, by the way why I
did not do this before I shouldhave been.
I should have buy a house along time ago, but most of us
just sit around and just be.
You know, you start doubtingyourself.
In reality, you have no ideawhat's out there for you unless
(16:44):
you go for it.
So to all those buyers outthere, all those people that
potentially want to behomeowners, go for it.
You have no idea how muchexcitement and so much memories
that you're going to build inthat house yeah, absolutely.
Speaker 2 (16:55):
And and a property is also basically like a piggy
bank because you're puttingmoney into it through the
principal when you pay everymonth and when you come to sell
it, you're going to get thatmoney back, like you're not
wasting it in rent, just goingnowhere, right, every time you
make a payment it's going to goto the principal, meaning you
(17:15):
got more equity.
So when you sell it or if youtry to do something with the
equity, you have it there andit's also appreciating.
Speaker 1 (17:22):
So let me ask the public wouldn't you want to
invest into an investment whereyou're sleeping and you're
making money?
Just think about that you'resleeping and making money.
Who don't want to sleep andmake money?
yeah, all right you buy aproperty, you're sleeping and
it's making money as long you'redoing your payments, you know.
(17:44):
And one thing about it it goesup in value.
The properties probably coulddrop, market could crash, god
forbid but it goes right back upand it goes up to even double.
I see a lot of homeowners thatbuy a property for 300 and now
they're selling for seven$800,000 guys.
Speaker 2 (17:59):
Yeah, my friend, his home.
They bought it for around, Ibelieve, $400,000 back in the
early 2000s and now that verysame home in Mott Haven is worth
$900,000.
Speaker 1 (18:14):
Unbelievable Over 100%.
Speaker 2 (18:17):
Wow, a lot of profit, a lot of profit, but they're
keeping it because you knowthey're going like.
This is like insane, right Likenow it's getting gentrified
here.
Speaker 1 (18:26):
My Haven yeah, my Haven in the Bronx.
Oh my God, it's changed so much.
Yeah, I grew up in thatneighborhood.
Speaker 2 (18:33):
Especially in Port Morris.
In Port Morris, all of that new, all of the industrial
buildings and whatnot, they'rebeing turned into lofts and
apartments, like really niceones as well.
Yeah, so a lot of people, a lotof young professionals, are
moving down there, and I knowthat you wanted to talk about
the department of building aswell yeah, department of
(18:56):
building.
Speaker 1 (18:58):
I deal a lot with department of building.
I'm involved um a lot of rent,a lot of fixing properties.
I'm involved with architectengineers.
I'm involved a lot with them.
But one thing I would say aboutdepartment of building make
sure you're tracking, like, say,the work you do throughout the
process.
Like, take pictures, takevideos.
Right, have your contractor dopictures and videos.
(19:19):
Why do I share that with you?
Because I say you do a jobright and you're telling them
listen, I did all this, but youdon't know what happened behind
that wall, right, but if youhave pictures and video, it will
help you.
Um, I recently encounter um aninspector I won't say where was
the department of building thatsaid that we didn't do a certain
job that he wanted, exactly howhe wanted it done.
(19:41):
Good thing is that my architectactually advised me to take
pictures throughout the process,because this happened as a
professional.
It can happen to anyone.
Anyone can make a mistake,angel.
But for your records, anyonethat works with the department
of building, right, and you'repulling out permits and all this
work I recommend you to tellyour contractor, your plumbing
electrician, take picturesthroughout the process.
So if they come back to you andsay, hey, you didn't do this, so
(20:04):
you don't have to break thatwall and show them exactly what
you did, right, if they requestit.
You have pictures and processof it, right?
Just have in mind that.
Also, it's best to always doyour properties with permits
with architect.
It saves you a lot of headaches, they're giving you a lot of
fines.
They're catching a lot ofpeople with stop work orders.
It actually goes bad for youwhen you get caught during that
(20:24):
process of doing work illegallyand not doing it the correct way
.
Speaker 2 (20:28):
Yeah, because we've seen a lot in the market that
there's markets, there's certainlistings in the market where we
go like that was a flipper whogot caught, most likely yeah
there's a lot of flippers outthere that are getting caught.
Speaker 1 (20:49):
New York City, washington County, it's not the
same the same.
Now it's like I've been alsohearing this um department of
building.
Now I've been hearing, right,it's rumors that they're
actually going on the mls onzillow, looking at properties
when agents come to list it andthen they come and hit you with
violation.
I actually just recently wentin contract in the property with
a for our client, angel inOrange County, right, if I'm not
mistaken.
Yeah, it came back on the titlereport.
Speaker 2 (21:06):
The seller had to pull out permits for an updated
kitchen, updated bathroom, theelectrical and the lights,
because they didn't do it bypermits.
Speaker 1 (21:14):
Yes.
So they hit the homeowner withviolation and fees.
But how did he get caught?
He didn't get caught doing thejob, he caught during because
the the agent, which we all doput it up on zillow.
Yeah, it happens, guys.
This is I've been noticingdepartment of building is doing
their job.
You know they want a piece ofthe pie, I guess they would say,
(21:34):
but it's just doing their job,right, they're trying to catch
everyone out there that's notdoing things they get.
And then also, if you sit downback and it Angel, it actually
protects the public.
Why?
Because you did work in theproperty without permit.
We don't know if it was up tocode.
Speaker 2 (21:48):
Right.
Speaker 1 (21:49):
And now, when our client, for instance, move in
there, the electrical is up tocode.
Now it's going to pass, right?
It's going to be safe for ourclient, right?
We don't know, because you know.
One thing I noticed is that yougo to Home Depot, everyone is a
contractor, everyone's aplumber, everyone is electrician
, and when you come to see thework, it's none of it is up to
(22:10):
code and it's not safe to ourclients.
It's not fair or safe to ourclients.
So, moving forward, guys,everyone that works, I recommend
you, any work you do to yourproperty, I recommend you to use
the palm in the building, do itthe correct way.
Hire the professionals to dothe work.
Also, when you speak to aprofessional, speak to two to
three professionals.
(22:30):
What I mean?
Speak to the two to threearchitect, two to three
electrician, plumbers, becauseeveryone has different feedbacks
, everyone has different feesand you will see who's working
with good faith with you.
That's what I do a lot.
Speaker 2 (22:42):
Yeah, it's whoever you feel the most comfortable
with that.
You feel like you know you cantrust this person.
Yes, and at a reasonable priceas well.
Like you got to balance thosetwo out.
If you're thinking of, you know, updating your home, like Alex
said, do everything by permitwhere it's going to come back to
you.
If you're selling a home andthe department of buildings
(23:04):
catches you which right now theyare very, very on top of their
game it's going to cost you.
So if you have things that aremodified in your home and you're
trying to sell them, best betis to kind of see if you did any
modifications on your home andtry to bring it up to code to
get the best bang for your buck.
(23:24):
Because if you're selling yourhome and you have something
modified in the home and thedepartment of building catches
you, you're not going to get topdollar.
You're going to have to go backto the drawing board and fix
whatever you did or get it up tocode or whatever it needs to be
.
And that's the case going onright now with a lot of homes,
(23:47):
especially in Westchester.
Speaker 1 (23:48):
Yes, I've been noticing.
One thing I really want to talkabout.
It's about when buyers ordertitle report.
Speaker 2 (23:56):
And floor plan.
Speaker 1 (23:58):
Yes.
So I want to get in detail whatI mean by that.
Yeah, of course, every buyer,because every bank would not
lend unless they have titleinsurance, right?
So you have to order a titlereport when you're buying a
property.
Yeah, but I think this is whatI'm going to share.
It's a good tip, right?
It's a good insight, like Icall it.
So I recommend every buyer,when you buy your property,
(24:19):
order floor plans of theproperty.
Why do I share that?
I think that's huge.
I've noticed a lot of buyersbuy property and no one orders
floor plans.
I'm going to recommend you guysto get as much history, as much
information of your property.
Why do I share that with you?
Because if, tomorrow, you wantto legalize anything inside the
(24:41):
house, and if you get the cityinvolved into your house, angel,
if something in that house isnot legal, you're going to get
hit with all of that that youneed to legalize right from the
city.
So the city expects you that,when you buy your property, do
the full research, full historyof the property.
Why I share that with you?
(25:02):
Just recently, angelo, one of myclients, bought a two-family.
The good thing is that I orderthe floor plans.
I always ask my title companyto order the floor plans.
It came out that the extensionthat was done in the house there
was an extension.
It was actually a deckextension, which is most of the
stuff that is illegal in theproperties is usually the decks.
(25:23):
He did an extension to thehouse.
It was a cement extension tothe house.
What a deck right for theclient for the two family came
out to be illegal.
The other thing is that when weordered the floor plans we saw
also that there was a bathroomin the basement that wasn't
legal.
We also came across that wallswere taken down.
(25:44):
So now I was able to negotiatewith the seller to get my client
a better deal.
Yeah Right, because a lot ofthis stuff is not legal in the
house.
You're selling me a house andyou're not disclosing honesty on
this property.
And I had the client run thefloor plans of the house.
So one thing you know had theclient run the floor plans of
(26:04):
the house.
So one thing you know make sureyou order the floor plans right
.
And I'm going to share anotherbig thing.
Not all houses have floor plans.
Sometimes these floor plans areso old the apartment building
probably lost it.
Don't have it.
But most of these houses someof them don't have floor plans.
So don't be scared if you don'tcome across a floor plan, right
, because some of them don'thave floor plans.
So don't be scared if you don'tcome across a floor plan right,
because some of these housesdon't have floor plans.
But if I recommend, when youorder your title report, moving
(26:25):
forward to all the buyers, orderfloor plans.
It's going to save you a lot ofheadaches in the future.
It's going to help you a lot.
It's going to give you actuallythe history of the house.
It's going to let you knowwhat's legal, what's not legal
inside the house.
So order floor plans every timeyou order your title report.
You will tell me thank you onceyou decide to do any extension
inside the house, any room youwant to do.
(26:46):
Additionally, you want to seeif the basement is lit.
You want to see why this househas three bathrooms and it's
supposed to be one.
All this would come up thesefloor plans.
I actually, in Contra, recentlygot a property, had it was a
single family with threebathroom.
I knew the basement wasn'tlegal, the bathroom, but I would
(27:06):
have thought that this, thefirst floor, was legal.
So if you don't have this isanother thing if you do not have
floor plans, make sure youorder the property car, the
property car.
So this house is actuallyunique.
This house is a property inworcester county.
It was a single family, hadthree bedroom and three
bathrooms, right.
But the property that had nofloor plans at all but it had a
(27:30):
property car and the propertycar said it was three bedrooms,
one bath okay so basically, Ihad to legalize the other two
bathroom, which I did, but I didthe okay.
All the information I got fromthe property is huge because it
would save you a lot.
So when I came to do the floorplans, I already knew that two
bathrooms weren't legal and Iwas able to legalize it quickly
(27:51):
because I was able to get theproperty card and with the
property card I was able to knowthat it's three bedrooms and
one bath.
Even though there was no floorplans, I was able to do the
floor plans for the house nowand now we have three bedrooms,
which was originally legal, andnow we have three bathrooms.
That was originally legal ofthe house.
Speaker 2 (28:07):
Right, I know that the.
What do you call it?
I know that your client wasvery happy with that.
Yes, you were able to help himwith getting all of those
bathrooms basically legalized.
Speaker 1 (28:17):
Yes, good thing there was no floor plans on the house
but there was a property card.
So when you do your you orderyour title report make sure the
property card is there or thefloor plans.
The property card will tell youeverything that's legal inside
the house.
It's nice.
It will give you at least agreat idea of what's legal,
what's not legal but, the floorplan was more detailed.
Speaker 2 (28:36):
Does the property card also show how many bedrooms
are in the?
Yes?
Speaker 1 (28:39):
Bedrooms, bathroom.
It tells you, if it's gas, whatwas built on everything they
say they have a legal deck.
It tells you everything in theproperty card.
Speaker 2 (28:48):
It's just a description, right.
Speaker 1 (28:50):
It's a description of the entire house Exactly.
It even tells you it's HVAC gas.
It's very detailed, theproperty card.
So I recommend you guys, whenyou order your title report,
right, of course, order yourmunicipals, of course, check
your liens, which title willalways do, but make sure you ask
the title agent.
Speaker 2 (29:08):
please order your floor plans and property car and
if you're not too sure, likemaybe you want to put a fence
around there for the outsideorder also, your survey yes,
I've always do a survey.
Speaker 1 (29:20):
People don't do service to, probably just to
save money.
You'd be surprised where yourline is at.
Guys want to wrap this up.
I want to tell all the fathershappy father's day.
Out there, you know, I've beennoticing more fathers are coming
up for the kids and it makes mehappy because I'm like that
with my kids.
My kids are everything to me,which is levi and lexi yeah,
they're my world.
Happy father's day.
And before I leave, I actuallyleave.
(29:42):
I invited me to the school.
They had like a father's dayevent and the teacher almost
brought me tears because shetold me something that my son
shared with me.
He told her he wants to be abusinessman like his father and
that touched me because I'vebeen like begging god to please
push my son to that direction.
So you know, I hope God putshis hands in, like he has for my
son, and pushes my son to bethe next businessman.
Speaker 2 (30:06):
There you go and the family.
Speaker 1 (30:07):
That's beautiful, All right guys, thank you so much.
Thank you for watching Sudowith Bias.
We're here for any questions.
Please like subscribe.
Thank you guys.
See you all till next time.
Bye guys, goodbye, bye guys.
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