All Forum Posts by: Julie Verardi

When calculating 7% for Cap X and 5% for vacancies do I get that number off of the total rental income  per month or per year or before or after expenses?

Hi, 

I've been investing for a few years now mostly in Jersey City. I was curious to talk to a real estate agent in Brooklyn who knows the Bedford–Stuyvesant and Bushwhick area. I'm pre approved for 700K. I was interested in multi families. If anyone has any advice or contacts that would be awesome. I'm hoping to find an agent who is an investor as well. I have a feeling Jersey might be the best place to stay but I figured I want to check out all my options. 

Thanks!

I have two properties in Jersey City. 

One is a condo. I'm going to confirm how much of the dwelling is covered by the association but what is a good rule of thumb on telling how much it would cost to redo the fixtures and tiles for the bathroom, living room, kitchen and two bedrooms with the appliances hot water heater and furnace? 

How do most people determine this cost?

Yah I think she's there full time and maybe even if she isn't I should still include her just to be safe. Thanks for the input everyone. 

I noticed my tenants who daughter as in college has stated to live in the apartment. I believe she's 18 or 19. There lease renewal is coming up. Do I have to have the daughter sign the lease and if so why? This is a property I have in Jersey City Heights. 

Thanks @Remo F.

Hi, I currently have two properties in Jersey City that I rent out and am working on getting my third. 

When would be a good time to start an LLC and switch the other two properties over? I currently have umbrella insurance but it seems like an LLC would give me better protection. What does it involve to switch it over? Any pros and cons from someone who has done it or thinking about doing it?

@Alex N. Hey I just talked to them and yes just have to fill out the form which looking it over doesn't involve the tenants at all and I'm just putting my name down for pretty much all the blanks since I self manage it. 

@Alex N. Thanks for following up about this it kind of fell off my radar. I love how they make the wording as confusing as possible. 

http://cityofjerseycity.com/uploadedFiles/City_Gov...).pdf

This seems to be the form. I have a two unit that I don't occupy but it's not clear to me where I send the registration form to for a 2 unit? I called and left a message. I'm assuming they aren't in since it's a holiday today but let me know if anyone else gets anywhere with this?

@Llewelyn A. Thank you! Very helpful.