All Forum Posts by: Christopher Veljkovic

@Noel Challenger Thank you. Your suggest is noted. Looks like I’m going to reactivate my Facebook account back up. I’m willing to try anything. 

@Karen Johnson your right!  It will give me a chance to learn how/another way to prescreen. Great educationally tip!!

@Karen Johnson yes!  you definitely did help. Thank you for your response!  I was kind of headed in that direction just wasn’t sure if there are more local listings rather than the nation wide websites.  

Good luck and wish you the best with your landlordship!  

I am purchasing a duplex as a first time landlord in northern NJ. I will be house hacking however the other unit will be vacant upon purchase. I would like to be prepared from the first day of purchase so here are my questions and concerns if anyone can weigh in! 1. What do you use as a platform to showcase your unit? ie Craigslist, hot pads? 2. What does your lease in include? Beside the basics! I purchased the lease package off of BP specific for NJ. However, there are specifics I would like to include in the lease that I have learned throughout the podcast of other landlords such putting specific paint code on the lease so tenant would paint prior to leaving. There are other examples but just would like your thoughts. 3. Screening the tenant process. Do you use the BP endorsement or do you have another recommendation? I know I’m missing something. Any input would be great! Thank you!! BP COMMUNITY!!!

I’m  purchasing a 2 family with a vacancy. I would like to know what landlords in NJ are using as a platform to rent and showcase your apartments?  

Any suggestions would be appreciated!!

@Ola Dantis thanks for the enthusiasm!  Your absolutely right. Control the situation now that I have the opportunity too!!  I will shine!!

Wow!! I’ve become excited more now that the consensus becomes apparent!  

Thanks everyone for weighing in!  The support has been wonderful and reassuring !!

@Ravi P. well yes and no!  I am aware of what I got myself into and the price is fair. I wish I got a better price but most comps are 75-125k more than my purchase price in a two family. Also I plan to rezone the home for a triplex. The home is in need of renovations but not the tenant side , which was updated to newer finishes 8 years ago. Painting and anything I can do to tenant proof the home and document with the tenant during the initial lease agreement is the goal. I would like to pass on any cost to them at the end of the lease is my intention, if possible. 

At this point of the deal I cannot ask for anything else because of the above mentioned. And this is also 203k loan which in itself is challenging to me and to the sellers do to the time constraints, so I do not want to give the sellers anymore of a reason to back out of the deal. Treading lightly!  

I appreciate the brainstorming!!!

@Jordan Moorhead I do have reserves for this situation. I was ready for it. It’s just the tenant that is leaving is good tenant with no issues, pays on time, and requires little to no management!!  

Looks like I’m hitting the ground running. What better way to become a landlord. Hopefully all the books BP and non BP books, BP education, BP podcasts, and BP forums will flow out of me!!!  

@Thomas S.  that’s exactly that I would want is for me to take over the whole process of finding a tenant. But the issue now is that I will have to do the minor repairs to get it rent ready and I cannot because I do not own the place. @Stephen Shelton your definitely right about having the place vacant to have the place ready.  

@Christine Kankowski Your point is taken into consideration. 

Thank you everyone!!!!

@Nicole A.@Ned J.@Andrew B.  Thank you everyone for the advice!  This is my first deal info you couldn’t tell!  

That’s was my first gut instinct, however, my realtor suggest that they would find a replacement tenant under my criteria if the seller would allow.  

I was hoping to purchase the home with paying tenants already, unfortunately that doesn’t look like it’s going to happen. 

I do not own the home yet. But I will!!  I’m trying to be proactivate with this situation. I would like to suggest to the seller to acquire a new tenant with my specific lease agreement  that I have put together from a compilation of suggestions I’ve got from BP forums and podcasts.  Of coarse it would go through the legal process through the attorneys. Hopefully they would agree to this. 

Or should I just deal with the vacancy after I purchase the home?  

My question is how can I make this into a win/win situation?  I feel like my thinking process is in the right direction but not necessarily the right solution.