All Forum Posts by: Account Closed

Thanks guys!

Am I allowed to charge a pet fee for renting my house?  What are your thoughts on allowing pets?  What is a good fee to charge for pets if any?

Hey, thanks for the quick responses. They house is not in Trenton, its in Voorhees NJ

I have a potential tenant for my 3 bed house in SJ.  The rent is $1,700.  

She gave me letter from NJ Dept of Community Affairs Housing Assistance Program.  These are the figures she has from a letter that was sent to her previous landlord.

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Total Monthly Rent: $1400

Amount housing assistance the program pays to owner: $1227

Amount of rent you pay: $173

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I the prior landlord drafted 2 leases one for $1400 (which was sent to HUD) and another $300 between them. She want me to do the same thing. Am I allowed to do this?

What is considered an OLD HOUSE? Is there a certain numbers years old that I should avoid? What are good ways to tell if a old house is a good buy?

My biggest worry as a new investor if the house will last through the years without costing me tons to repair things.

• RE Taxes are $4600 per unit ($9200 total).
• Intentions are buy and hold for cash flow. Would occupy one side, but my wife doesn't want to.
• There is a separate 2 car garage which i am looking into if the township would allow turning into a studio. Looks unlikely
• There is 1 tenant who is paying $1225 for one unit. The other is very similar but vacant.
• NJ seems to be extremely thin margins if you are not in a ghetto area. What is the best way to find a deal? What is a good deal in NJ for Cap Rate and COC?

Hey I'm new to BP. I am from NJ. I am looking at a well maintained duplex listed for $360K. The rent for each unit is about $1,225. It is in central jersey in a nice blue collar town. There a huge front and back yard and a detached 2 car garage. 2 Bedrooms On Each Side & Full Basements

I think the asking price is high, but I would like to know what people think about what would make this a good deal.