All Forum Posts by: Emilie Ponsin

Thanks for all your answer, it is quite useful ! I am having a call with the landlord this coming Friday.

Hello Bigger Pockets commumity ! I do have a question related to an apartment I rented for the pass 4 years in New York City. The landlord decided to take $1400 of the deposit without any explaination. We received a small note like this: -Paint and small repairs: $ 900 -Other supplies: $300 -Rent ; $100 We really took care of the apartment, removing all the shelves, plug all the holes and did the cleaning myself. The apart was repainted before we lived in but, I beleive this is a normal wear and tear, I did not break any wall, window or cabinets... I really left the place in a perfect condition. What are my option here, I do not understand why $1400 was taking out of our security deposit for no reason. I left a voicemail today to the landlord and we do hope to have an answer soon. I am myself a landlord and I wonder what can I “reasonnably“ deduct from the deposit. Thanks. Emilie

@Russell Brazil thanks !

Hi, I recently moved to Colorado and I am looking to invest in multifamily units (At least 10 units) to rehabb and rent them. Any suggestions, websites, contacts ? Thanks, Emilie

Hi,  I ended up with a local company bank in NJ with 25 % down.

Originally posted by @Chris Masons:

Hi Emilie,

If you have good credit and your income ratios are desirable and the property financials make sense you should be able to find a lender that will do 20% on a multi family.

There is no guideline that I am aware of for your first multi property requiring 25% down.

Good luck,

Chris

Originally posted by @Anthony Perna:

How many units are each building?

 3 units

@Ceril S. can you suggest me a home insurance in NJ ?

Thank you for taking the time to answer my questions.

Regards,

Emilie

Hi everyone,

I am having troubles to find a insurance for a 3 multi family units build in 1925. It will be an investment, we won't live the house.

We tried a few insurances but some of them mentioned that the house is too old to be insured (which I found surprising) and because we not living in the house, they cannot give us a quote... We tried the big insurance companies like State Farm  but they are way to expensive....

Do you have any local contacts in New Jersey or online insurance you know could work for us ?

Thank you in advance for all your answers.

Regards,

Emilie

Thank you for all your comments, we received the contract signed by both parties 3 hours ago. We do have an attorney review going on right now and should be done within a day or two.