All Forum Posts by: Keith T.

I am looking into purchasing a two-family multi property as a primary residence in NJ. The home was purchased in 2018 for $345,000 from an auction. The first unit was renovated, new kitchen and bathroom, floors were sanded and glossed, walls painted. The second unit was not renovated whatsoever. The kitchen and flooring at the minimum would need to be done. They also have the second unit listed as a two bedroom but one of the rooms is very small, about 10x5 with no closet space. This wouldn’t bring in too much profit as far as rentals go. Their listing price is 688k. I understand everyone needs to make a profit but I feel the price is a bit steep for what little renovations were done and what renovations still need to be done. I want to offer something reasonable. What would a safe offer price look like?

We have tenants living in the upstairs apartment who’s son started playing drums shortly after moving in, 6 months now. It is not all day long but the time that the playing is going on, it shakes the walls and everyone cringes at the loud banging. We have put up with the noise but will be moving soon and anticipate a new tenant will not and complain to us about it. We have thought of putting a decimeter to measure the noise level and request noise to be below a certain level. Any ideas on tackling this problem? Any advise is appreciated.

Hello everyone.

I have a little dilemma with my father on a property of mine- here it goes.

I purchased a three family house about two years ago. My father is a general contractor who helped me fix up the property. A lot of the work he did was after hours and my wife and I along with my father did all the work. We put up a wall, new kitchen tile flooring, new closet in one of the bedrooms, painted the 3-bedroom apartment, installed sliding doors in the bathtub, and painted the front and back entrance hallways. I paid for all materials. My dad is now asking me to pay him for labor costs and also wants the house to be appraised so I can refinance and give him half of what the property is worth. How do I go about this situation.. I have tried speaking to him numerous times that why would I pay him for his labor costs (that my wife and I also put in without pay and I paid for all materials) along with giving him half the property value. We also haven’t had the property that long to take out half the property value on a refinance. I am the sole owner of the property and we never made a contract regarding payment or partnership. Cash flow is good as is and I don’t want to sell the home even though he will ask me to do so in order to attempt to get half the sale. This is my father and is why I’m having trouble with handling this situation. Any response will be appreciated.

Thank you

Newark NJ It’s upcoming city prices are still low.

Hello Bigger pockets community. . I purchased a three family house about four months ago. My father does all the construction work and keeps up with the property. once purchasing the building my father renovated second floor apartment. My father wouldn’t charge for labor but will charge for some things. We were supposed to be partners with the purchase of the three family we were supposed to split the cost of closing and any expenses that came with buying the property the issue that we’re having now is that my father wants all the money that he spent on renovations of the second floor apartment plus wants 50% of whatever the house is worth all due to the tenants on the first floor that work for My mother.The tenant on the first floor Does not want to answer to any of my letters I sent out to the tenant. Tenant calls My parents to complain about the letters that was sent out to them. Tenant feels that she does not have to answer to the Me. Because She’s an employee for my mother . Tenant lease was up and I needed to renew the tenants lease with the increase. Since then tenant is giving rent check to My Dad in His name When I’m the actual owner and pays the mortgage and My father doesn’t. Lease been expired for one month now. Now I doesn’t know what to do. Any advice?

Hello when is it.?

I have a 3 family house now and added another 4 more very soon. Thank you for the Information BP.

When is this??

I have a three family house and I use cozy for collecting rent and also doing credit checks and background screening. It’s amazing You can also list your property on it.

New Jersey?