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All Forum Posts by: Megan Brooks

Megan Brooks has started 22 posts and replied 81 times.

Post: New Jersey Inspector

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

@Darren Browne

I like:

Erik Zerrenner, CMI

Owner/Inspector

47 Stone Fence Road

Allendale, NJ 07401

premierhomenj.com

Post: Real estate investors expo

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

Has anyone attended the Nj Real Estate Investors Expo? This year it’s to be held on 4/18/20 in Hasbrouck Heights. If you attended previously, how was your experience? Did you learn, make networking connections, etc? Basically was it worth your time and money?

Post: How long does eviction take?

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22
Originally posted by @Syed H.:

30-45 days in PA. Very easy.

Many times, I can get tenants to leave with just the threat of an eviction because they don’t want it on their record.

now in NJ or NY, god help you. If everything goes “right”, 60 days. If things go wrong, 180 days. 

I'm in NJ...seems pretty straightforward from what I can tell online. I found a good article taking me through the steps for NJ...

https://accidentalrental.com/n...

I hope I'm not being naive to think this will be easy. Court date set for 2/11.

Post: How long does eviction take?

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

@Wesley W.

What do you mean by procedural errors? I’m going through this process right now, doing it our own. Court date in a few weeks, in NJ

Post: Solo 401k through setting up property mgmt company

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

@Dmitriy Fomichenko

Yes definitely awaiting our appt with our accountant. Just looking for others experiences :)

Post: Solo 401k through setting up property mgmt company

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

Hi guys,

Does anyone have any idea what a “reasonable” compensation is from my property mgmt company to pay myself to then take that money to invest in a solo 401k? I’ve heard conflicting ideas that that’s a good way to be able to use a solo 401k and then that it’s not? Can most/all of our rental income get paid out as income? How have others worked this that have used a property mgmt company to set up their solo 401k? Still doing my research...

Thanks!

Post: Eviction paperwork to court date

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

Hi NJ landlords! How long after you have filed the eviction paperwork until you've gotten a court date?

Thanks!

Post: Transferring property into LLC name

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

@Ivan Palagniuk my bank said no but I went directly to Fannie Mae (owns my loan and I met their requirement for transferring per above blog post) and they called my bank and it was approved

Post: Transferring property into LLC name

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

Post: Transferring property into LLC name

Megan BrooksPosted
  • Rental Property Investor
  • Fort Lee, NJ
  • Posts 82
  • Votes 22

Find out who owns your loan. I followed the post that Brit F. recently posted about and it worked like a charm to get the banks approval letter.