All Forum Posts by: Al Rivera

Don't follow mainstream media (MSM). They've ruined enough of the economy as it is. Follow your local MLS board instead for accurate information. Those results are more accurate and speak for themselves.

My suggestion would be to READ THE PURCHASE CONTRACT, the contingencies and deadlines. In Texas, a buyer can cancel for any reason prior to deadlines but will lose the option fee. If the owner wants to replace the breaker panel as a DIY he must be a currently, licensed electrician, pull permits otherwise the inspector and/or loan officer (LO) will deny the loan. Check with your local New Jersey MLS/Realtors association and see if they have a legal hotline you can contact to get the right advice. I think the seller and attorney are posturing with their legal claim, but as I had mentioned before, read the purchase contract and highlight the paragraph (PDF link attached). From a brief review of the NJ contract, I think para. 3(c) is your client's "out" but check with an attorney since I am not an attorney.

New Jersey Assn. of Realtors ®

Good luck and keep us updated.

This is all great information.  Currently I live in what I call a "livable teardown".  The house is 77 years old, 1050 sq/ft, block and beam with 100% brick veneer, needs about $55,000 in additional improvements and has foundation problems (rear of house sits 7 inches lower than the front).  Rather than fix the house, my goal was to build two townhouses on the lot, sell one, pay off the loan, live in one for "free" and have a few dollars left over to invest in more property.  I've not started looking for a builder yet because I need to get a few more financial things in order, however, I've seen some of the costs of building in my area ($125-$150 sq/ft).  I don't want a fancy house or too large (2500 sq/ft is fine).  What would be the best approach to build two townhouses?  With an investor or fund the whole thing?  Thanks.

Hi. Congrats for joining. As a former accountant, I would suggest you develop a budget for monthly expenses, plus 10% for emergencies, as a start for your breakeven point to achieving financial freedom. Anything over that would be considered “gravy”. Good luck. Al

You have a city occupancy violation possibly superseding any kind of lease agreement. Too many people in one area is not hygienic or safe.

It should be a great time to invest in real estate. The only drawback would be possibly higher interest rates as the economy recovers from 8 years of stagnation. Buy, buy, buy!!!

The elevator is for a single family home not a multi-family dwelling.

Hi everyone.

I am planning to build on my lot within the next 2-3 years with a new construction home with 3 levels.  Part of the plan includes an elevator that travels three 3 floors (3rd floor is a spare/entertainment room).  The total square footage for the house is 3857 sq/ft.  

My question is whether it is worth it or not, however, I plan to live in this area for a while since it is close to downtown and very convenient to other amenities (I live in Eastwood).  

Any pros or cons about having one and the maintenance required are welcome for discussion.

Originally posted by @Ellen Booth:

Hi Martin,  live in Europe and I have no experience at all house buying in the States, but love to do it for my 2 daughters who want to live in The States one day. Would you mind advising me how to let Excell manage your leads? Is there a url I can use to join and how can I adjust it? Thanks and best wishes from Holland.

 Hi Ellen.

Excel is a Microsoft Office, spreadsheet program.  Depending if Microsoft, someone else (or you) has designed a program (free or paid), it is only a vehicle that runs a software program.  You can see if Microsoft Office has free templates to download once your have Excel on your computer.  You can also get a free spreadsheet program from OpenOffice.org  (note:  I do not work for them).  Here is an example of spreadsheets and the software that use them.  

https://www.google.com/search?q=excel+crm&ie=utf-8&oe=utf-8

Good luck with your efforts.  

I use crimereports.com to discover a home's issues.