All Forum Posts by: Doron Rice

@Jeremy Taggart, its in Lawrencville. 

I have a beutiful 23 units property in one of the best location in Pittsburgh PA that I am looking to sell and I am looking for a rockstar Commercial RE agent to list it. This is a commercial building so a residential agent is not relevant here. Thanks!

I was presented by a broker with a small apartment building for sale in Newark, NJ  - North Ward neighborhood. Although im from NJ and invest in NJ i always stayed away from Newark. Any thoughts bout this neighborhood's crime, tenant base etc.? 

I completed a flip a few of weeks ago (central NJ) and put it on the market. There were a few showings and then when the meltdown begun there were no showings at all. I decided to pause the listings so the DOM will pause as well and thought to wait till the social isolation period will end. I wonder if there are still activities these days and if i should put it back on the market or wait for a few months or so. 

I am going to put an aggressive offer on a REO property I really like for a flip. the Bank disclosed that there was an underground oil tank that was recently removed. Do I need to ask for a clearance certificate before closing or once I bought a property without an underground oil tank it isn't my responsibility (the seller obtaining the responsibility, even after the transfer of title)? This is an as is deal in NJ. Thanks!

I saw a nice property that I want to flip (in NJ). this property has solar panels on the roof which I plan to remove (house needs new roof). the property is sold in an as is condition (short sale).  I wonder if the lease of the solar panels will transfer to the new owner or they are leased personally to whoever bought them and I wont have to assume the lease if I to buy the house. It'll heart me selling a house with solar panels debt attached to the house.

@Kasaung Anderson - its really depends on the area you live in. some areas don't support a large house and some does and do not support a smaller one (a 2500sf in the Hamptons wont fly...). Also - its strange that your architect claims that 2 SFR will have an overall larger sf then a single. The buildable area is the lot area times the FAR, so at least it should be the same although with 2 separate units you need to keep setbacks etc. which reduces the buildable area. worth double checking this matter.

Marc - sent you a pm to get more details.

A friend of mine is a licensed Realtor. Her brother wants her to help him sell his home as "For Sale by Owner," without putting it on the MLS. Is she allowed to do that as long as she discloses to the public that she's a licensed agent when she comes in contact with them? Does she need to disclose to her brokerage firm even though the brother doesn't want her to list it?

Thanks for your input @Will Barnard. Yes, 30/70 looks like a not that attractive deal for me... 50/50 sounds better. will you also give the 7%-10% return to the investor, above the 50/50 profit split?  The properties I'm flipping are around the $100K in purchase, around $70K in rehab and usually sold for $235K,  around $220K after closing cost. so I usually have $50K in profit.