All Forum Posts by: Jay Patel

Looking for experienced attorney/ legal firm for properties in NJ. Need ongoing support with strategy, setting up company structure, holding company, LLCs etc for asset and liability protection. I already have CPA that I work with, but happy to consider all-in-one shop with experience managing real estate portfolios. Any advice would be greatly appreciated.

Thank you all!

Hello, I’m looking to buy a landlord insurance policy in a rental property in NJ. Not having much luck in current market. Hoping if there’s any local agent out there who can help.

Hello all!

Working on closing a mix use deal in NJ. 2 commercial space on first floor and 4 apartments above it. Comps are looking good. I know the potential of this location for residential rentals, as I have other units in the area. This is my first mix use deal (and commercial) though. Since the meters are separate for each units, I'd pursue NNN for commercial space.

My question - any key watch outs from commercial real-estate pros out there? Anything on permits or special taxes or occupancy requirements I should be aware of?

Also, both commercial spaces are equipped with restrooms. I’m planning to have plumbing and gas line in place, but not sure if I should customize any further for any specific type of use (wasn’t planning on, but I’m open to ideas).

Thanks!

@Randall Alan thanks! Saw this late. Managed to get a personal loan, but it won’t cover it all. So I’m going to take suggestion, look for local lenders. Appreciate your response.

Hello all! I'm an investor in NJ, have few single and multi-family homes. Ran into a little challenge with my last purchase. Seller wanted U&O (use & occupancy) agreement, saying they plan to live there for a year and pay rent. Thought it'd help with accumulating cash for reno project in the meantime, and I went ahead with the deal. But they suddenly decided to move out within 1.5 months instead. Long story short, I leveraged credit card to do a quick flip. Property is to be rented with a decent cashflow. All set there. However, in need for speed, I put a temporary dent in my credit score (high revolving debt, but never had a missed payment). Traditional options are unreasonable/ unavailable due to rate hikes. Having challenges finding a good lender who can help with debt consolidation loan. I'm open to any ideas/ suggestions/ private lenders. Thanks!