All Forum Posts by: Jackie Kat

Many thanks for all your replies.  I will do some research.  I have found a few more houses that are in great neighborhoods but the house seems vacant.  Will see what I can find out.  

I've been driving the areas that I am interested in investing and have come across a vacant house with uncut grass in a beautiful neighborhood.  I did some research and found out the house is in the process of foreclosure.  I know the names of the owners but don't know where they currently located or which bank their loans are with.  Would appreciate some advice on how I can find the current owners or how can I make a offer on the property.  

Many thanks!

Jackie

Hi Jean, thanks for your reply.  I attach 2 pics.  The stucco colonial sold for 479.  The one Below is next door.  Pic got cut off but it is a 2 car garage, 4 bed, 2.5 bath home with a pool and wood burning fireplace in a good school district.   Street In front is a little too busy and style of the house is different from most.  There is a same model 1 street away and looked quite nice all fixed.  that is the only other one I found in the area.  This model obviously isn't as popular as the colonials given that there are only 2 in the neighborhood like that.  Will a model like this eliminate a lot of buyers?  Appreciate any thoughts on this.  

Thanks

Hello,

I am looking for guidance on whether to buy a house for investment.  The homes in the area are selling over 400K and the house next door just sold for 479K.  It is not in a development but on a street that is busier than other residential streets but not like traffic in a commercial area.  I toured the house with contractor and the cost to would run 80-100K.    The realtor is telling me I could get 470-490K; however, what bothers me is that the door doesn't face the front of the house; it faces the side.  It is L-shaped and not a colonial like the other home that just sold for 479K.  If the door doesn't face the front of the house, would buyers care that much?  The size of the house is pretty decent but it is a lot of work.  The bank wants 300K and I'm thinking of putting in a offer for 250K but doubt that bank would take 250K but would appreciate any advice. 

Thanks,

Tricia.  

Thank you @Jill Rossi and @Roy N.  I am currently looking at investing in a house that was built in 1980.    They laid ceramic over tiles, which I was questioning whether it contained asbestos.  I guess I would have to get it tested to see if it contains asbestos.  Thanks, Tricia

Hi - this might sound like a dumb question but I am relatively new at this.  How do you know if you have asbestos without testing?  Has anyone seen drywall with asbestos?

Thank you.

Jackie K.

Hello - 

I am looking for recommendations of good real estate agents in Middlesex, Monmouth, and Ocean County in NJ.  I have not found any whom I like working with or who understands what I'm looking for.  

Would appreciate any recommendations.  

Thanks,

Tricia. 

Hello - 

I am looking for recoomendations of a commercial real estate attorney in nj who is familiar with 1031 exchanges, preferably in Monmouth, ocean, or middlesex county.  I need someone who is extremely responsive and knows the ins and outs of commercial real estate law - not someone who says they know it. 

Would appreciate any recommendations And what a reasonable amount to expect such an attorney charge. 

Many thanks!

Jackie 

Thanks.

I was told my several insurance companies that anything within a LLC or a trust would be excluded from my personal umbrella insurance and that I consider a business umbrella. Has anyone encountered this?

Hi, 

Thought maybe someone might have encountered this and could offer some advice.  

I currently own a few properties that are in the name of a LLC, which I have purchased a general liability insurance policy. I also have a couple of rental policies in my own name but when I went to the insurance company to ask about getting an umbrella coverage - they said that the LLC could be problematic and didn't give me a quote. I don't understand what the issue is because the LLC has adequate insurance and has limited liability so if anything happens, that shouldn't impact me personally. Has anyone encountered this - where they had problem with getting umbrella coverage on other assets because of the LLC? It makes no sense to me.

What insurance companies have others used for umbrella coverage?  Do all your insurance policies need to be with that company in order to get umbrella coverage?

Thanks,

Tricia