All Forum Posts by: Account Closed

I do hope others from New Jersey chime in as I am curious if I can use sec 8 as a hedge against a Rental Bubble. I keep my places in great condition and I understand you can scrutinize your sec 8 through the same as a reg Non sec 8 tenant. I have inherited BAD "regular" tenants at least I know what I might be getting and can prepare for it. Slum lord I am not nor never will be. In fact I might look at it as a good thing for me and the tenant....

Industrial psychology. If you view the clip it in its entirety the host and guest explain why R/E is a good investment. they talk about security in the long term and why we "think it is" As a real estate investor how my clients react to this I believe would be "YEAH in the long term real estate is good it forces me to save and puts a roof over my head". MY KINDA BUYER.

More good news for Investors. Yahoo finance

http://finance.yahoo.com/blogs/breakout/even-after-the-crash--americans-still-love-real-estate-best-160008309.html?soc_src=copy

Subjective response if I was to reply. I would look at my business plan to see if I reached or exceeded my goals.. Just my opinion

walk thru just prior to closing. Even if you have to get another trusted person to do it! My very good friend does a ton of out of state investing. He purchased a Brown Stone (Very expensive townhouse like structure in a well to do area). He is smart enough not to use the listing agent to do the walk thru so he finds& hires a contractor to do it and take pics of anything that seems out of sorts. Well it paid off big for him. Just prior to closing he was going through his paperwork and realized he had no pics from closing walk through. Agent said everything is OK she walked through yesterday and everything was cleaned out. It was BUT it rained the night before and an OIL DELIVERY took place that morning. Only problem.. the oil tank was removed as per negotiated by the then owner. 500 gallons of oil into basement into sump pump in yard then sewer... Luckily he had a contractor stop bye to take some pics and he found/smelled the issue as soon as he walked in house... needless to say deal fell through and seller had to reimburse my friend for the fees he incurred during the purchase process. I saw the pics. If he had not done the walk thru he could have been on the hook as the seller was from out of the country.

Andrew,

Yes! oil tank disasters do in fact occur. That said you did everything right and limited your liability (I am not sure how much out of pocket expenses you incurred but I usually include in my contracts that I might get some financial relief on my inspections if I uncover a like same disaster and I put out $ for further investigation). You should pat yourself on the back. I am sure you learned a lot from that experience. If I were you I would be waiting on the sidelines because as soon as this is cleaned up and a cert is issued be ready for a deal... That has been my experience... I have even gone back 2 1/2 years after a deal was started to finish it up after an environmental issue cropped up. Just my opinion.

Those are holds.. F & F's are all over NJ... Just starting to F & F's in PA

Somerset, Ocean, Monmouth, Bergen NJ Pike, Monroe PA W Palm Beach Fla

Best of Luck... keep us informed

I agree NJ is very tenant friendly. The only good thing is the courts force you to keep your ducks lined in a row or you get squashed. Helps in other areas of REI.