All Forum Posts by: Antonio Porta

I sent you a request to connect. Thank you

Would appreciate the referral

@ John Errico

Hi All,

I have a property in Jersey City Heights and I am in need of a contractor to replace a furnace/boiler. Can someone recommend a plumber who works for a reasonable rate? I will purchase the furnace all I need is for someone to install. Thank you 

@Henri Meli, the property is located in Bergen County NJ.  I have a lender I am working with. Thank you

I am in search of a knowledgable attorney who understands fair lawn rent control ordinances. I have questions about ordinances 177-3-177-5. 

Please comment below or message me to discuss details.

I am looking into purchasing a property there but need insight prior to making an offer.

Ty in Advance

@Omar Khan, thank you for the reply & recommendation.

@Phil Marmorstein Mixed use property 3 residential units, 1 commercial space. I have an appointment tomorrow with a insurance broker

Can anyone recommend a commercial lender (small bank preferred)? 

@Joe P. 

1st and last month security...? Never heard of such a thing. 

General deposit vs security deposit. No there is only 1.5 month security deposit you can charge. 

 This document is very helpful, I suggest you read through it and educate yourself on landlord rights so you avoid any trouble.  

 https://www.state.nj.us/dca/divisions/codes/public...

@ jon cordeira, thank you.  I will have my mortgage guy look into this! 

@Mike Bonadies  

We have a condo at Ritz Condominiums in Atlantic City, it has been in our family for over 20 years. Their HOA fee is very high and considering the age of the building (fun fact, Board Walk Empire Series HBO, the main character Nucky Thompson actually lived there) there always seem to be increases for added repairs. In the mid 2000's they constructed a indoor pool and jacuzzi, a very nice amenity for residents but they increased the cost of the HOA for 3 years to pay for it. Recently, they just finished an exterior brick concrete re-facing 17 floors up which raised HOA again 4 years. A word of caution, you are always at there mercy of HOA, and in general the older the building the more repairs it will need which is not ideal for an investor. Personally, I would not purchase a condo for cash flow, its just too un-predictable, I rather stick my money in a small MF that I am in control of in a B/B+ class neighborhood.

The Ocean Club in Atlantic City is newer but I cannot comment on their HOA.

Lately, I have been curious if Air-BNB is allowed at the Ritz. I do know they allow summer rentals for 2 weeks, but unsure if AIR BNB is allowed. I wouldn't be surprised if it is not, HOA at the Ritz is very strict. There's a sign in the entrance that says if you get the hallway wet from coming back from the beach or pool, you will be fined $100.

I own a property in Gloucester County, Glassboro near Rowan U, my alma mater.  Lots of development in that town with the construction of the new hospital and some investors I spoke with are coming into the area.