All Forum Posts by: Fahima Hilal

Common sense tells me there is nothing wrong in offering it to your own tenants, but then  common sense is not so common esp with the Real Estate laws...

Hello landlords, 

Do you open a separate landlord/tenant account for the security deposit everytime you rent a unit ? WHat about the multiplexes? It does get difficult when the number of units gets bigger, doesnt it ? Is it legal to hold it all under one savings account? 

Nancy,

If you go the FSBO route, make sure you have your attorney/title company to get your back.

If going the agent route:  

What you should ask your listing agent, is the list of homes in your area that are similar in style, no. of beds, baths, garage space, sq footage etc. , that sold within the last 6 months. WIth that comparable, you can arrive at a fair price for your house. I would suggest you list it slightly below the market price to attract more buyers, hence more competition, and ultimately a better price. Hope that helps somewhat If you are not listing, but offering a commission to a buyer's broker , mention the commission percentage in your ads. Or agents would not be interested.

Good luck!

THank you @Vaughn Smith!

Thank you all for your inputs . We have finally closed on this one and happy to bring it to fruition after 6 months of waiting ! Phew!

Can you please mail me at [email protected]? Thank you @Emmanuel Lopez

Thank you guys for all of your input. My husband and I have decided to hang in there, as even though its not a stellar deal right now in terms of cash flow, its definitely a great location and has potential for improvement. I spoke to the lawyers and apparently the state has come to a decision regarding the seller's liabilities so an escrow wont be necessary . Hoping to close in a week 

I have a 3-family under contract for months now, in Clifton, NJ and I am getting tired. The seller has some bulk sale issue with the state that is dragging it. Should I just let it go, sue the seller for non-performance or transfer my contract to a more patient investor? Any thoughts?

Thank you Kevin 

@Kevin Hoag

Thank you for your clear response Ray . I had it insured but it was too expensive 

@Ray Reed