All Forum Posts by: Mario Arnone

Hi All:

I recently transfered the deeds to my buy & hold properties out of my name and into to my LLC's names. Now I'm finding it hard to find competitive home owners insurance coverage as a result. Does anyone use a good affordable company that will insure a rental property held by and LLC?

Thanks for your help!!

I'm a real estate investor with several properties under my belt. I'm looking for a good accountant who is familiar with the tax laws, depreciation, LLC, etc...for a real estate investor. I'm located in the Philly area, I would prefer to support the local industry but outside my area would work well too. Any recommendations would be great. Thanks!

I'm a real estate investor with several properties under my belt. I'm looking for a good accountant who is familiar with the tax laws, depreciation, LLC, etc...for a real estate investor. I'm located in the Philly area, I would prefer to support the local industry but outside my area would work well too. Any recommendations would be great. Thanks!

Hi All:

I think the ability to have an ADU on your rental property could be a great way to find positive cashflow on a rental that would be negative otherwise. I am a displaced restaurant owner without income. I'm currently living at my mothers and have rented my home for $600 a month in cashflow. I'm looking to purchase a single family home with a large two car garage to be used as an ADU. I would rent the main portion of the home and build out the garage as an ADU and live there myself rent free.

However, after reading the housing code in my neighborhood and adjacent counties, it's not totally legal. However if I was to live in the property and was "on-site" and created an arms length lease for the main home maybe it works? My thought was if the neighbors disapprove and file a complaint, and I was forced to leave, I could move back in with mom and legally rent the home. The ADU or additional space would then make the home a larger space and I could increase the rent with the next tenant. Not exactly the best but an exit strategy none the less.

Any thoughts or comments on this matter? Does anyone know states that allow legal ADU's. Thanks in advance for your help!

Hi Michael:  Sound like you might have a good deal based on your numbers. I live in Mercer County NJ. I'm a buy and hold investor with several small multi-units in Philadelphia and Central New Jersey. Give me the address and I'll check it out neighborhood wise. Where in South Jersey I have a lot of family there? Let's connect.

Hi Raff:

I'm a buy and hold investor in Mercer County NJ. I'm always looking for a SFR in good neighborhoods. Looking for dead end wholesale deals for a possible subject to or seller finance. let's connect.

Hi Daniel: Welcome to Real Estate Investing. I live in New Jersey as well. I was born in Passaic and lived in Clifton for a while. I have moved to the Princeton area in Mercer County. I'm a buy and hold investor with a triplex and a SFR. Looking to expand with 2 more home this year. Let's connect and talk more about your goals. Maybe we can partner. Thanks.

I agree with Steve, start high and come down and adjust if needed. I would also try Rentometer and plug in your address for  2 Bed and 1 bath and see what comes up. Good Luck!

Hi Brian, I live in Ewing New Jersey and have been researching subject to for a while. I can certainly use an experienced attorney as I begin approaching prospective sellers. Can we connect?  

Hi All: I'm fairly new to rental properties and I'm stuck on how to proceed. I have found several multi-unit rentals where the numbers work well; $250 -750 per unit but don't have an investor lined up. Some say find a good deal and then look for money?? I've gotten to the point where I want to make an offer, I have some money for a small down payment but need an equity partner for the rest. My credit is good and I also have a lender who is willing to provide the 75% loan at 30 years at 6%.  I'm on my 3rd deal where I dragged my feet and an investor came in and purchased. Do I just make an offer and go through the inspection process and while I'm doing that look for an equity partner? Or should I get an equity partner first then start looking again? Thanks for your help!! Mario.