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All Forum Posts by: Jessica Zolotorofe

Jessica Zolotorofe has started 21 posts and replied 1334 times.

Post: Anyone else find the BiggerPockets app and website glitchy?

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

VERY! I've emailed about it numerous times and they say their IT guys are aware and working on it, but I haven't seen it get much better in quite some time. That being said, the site has so much value that it's worth it to get past the frustrations of the glitches and keep using it.

Post: Is there a need for Interior Design

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

I don't think you need an interior designer for that. Your architect should have a good understanding of what the market dictates as far as layout and bedrooms, etc. I would potentially hire a designer for staging or maybe just have one do one of those digital staging depictions you can use for advertising that look really professional and give potential tenants an idea of how to set up the space and how much furniture it can fit. 

Post: Anyone doing Commercial Flips?

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Easiest flips are NNN single tenant free standing. Florida is really hot right now, so it's doable for sure. On the attorney side I've seen a lot of long term Walgreens and CVS flips with decent term left on the lease. A few newly developed Starbucks. Good tenants and no work for the end buyer. I've seen some "centers" but not really any big ones. The 2-3 tenant centers are more manageable, especially due diligence-wise. If you can add some value (get a tenant to extend the lease early, or build out a new building for a tenant), the properties are even more desirable to end buyers.

Post: Fairmount Neighborhood in Newark NJ

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Check out neighborhoodscout. They have these maps color coded with crime rates in each neighborhood. It's a pretty cool feature.

Post: New Jersey Wholesaling Contract

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Any contract is assignable as long as there is no prohibition against assigning in it, which a lot of standard forms have, so take a close look before you sign. 

Post: Tenant not moving out at close

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Call the landlord in default and make then evict the tenant, assuming they have a basis to. Otherwise, only choice is close with the tenants, or sue the seller for damages. What I would personally do is either cancel the contract if you were planning on flipping or moving in, or if it was a buy and hold and the tenants are below market rent, make the seller give you a credit for the difference between their rent and market rent from now until their leases expire.

Post: How To Find Comps On Commercial Properties

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Depends on how much real estate you do. If you are making a career of it, I highly recommend you consider CoStar. It's pricey, but if you plan on doing this long term, it's an amazing product.

Post: Finding tenants for small strip center under4000sf

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

I know it costs a few bucks, but highly recommend you go with a broker if the market isn't hot enough in your area to just post a sign and get hits. Let them deal with advertising, reaching out to national tenants and franchisees, showing the property, negotiating the LOI, etc.

Post: LLC establishment vendor

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

United Corporate is really reliable and fair pricing. I work with them on everything out of state. Not sure where you're located, but some states (like NJ) it's really easy to just do it yourself, others (like NY) it's a nightmare and worth the money to let someone else deal with the process. They can be your registered agent out of state, too, if you need one. 

Post: Handyman referrals in Jersey City

Jessica ZolotorofePosted
  • Attorney
  • New Jersey
  • Posts 1,399
  • Votes 793

Ballan Improvement Group is very good. Clean, quick and reliable. I'll PM you their contact info.