All Forum Posts by: Rhona Didi

Hi

I'll be renting out my condo. If I rent out the enitre unit to a potential tenant, can I ask the following questions below? DO they look ok and anything else I should add? Thanks!

About you
-- Name
-- Current Address
-- Email address
-- Phone number

-- Names of lease
-- Total number of occupants
-- Date desired move
-- Desired length of lease
-- How many vehicles do you own?
-- Do you have any pets?


Previous Addresses (1)
-- Why did you move
-- How long at this residence
-- May we contact you previous landlord?
-- Landlord name and contact info

Previous Addresses (2)
-- Why did you move
-- How long at this residence
-- May we contact you previous landlord?
-- Landlord name and contact info


- Employment / Income
-- Occupation
-- Employer
-- Time at current job
-- Salary

- Employment / Income History (1)
-- Occupation
-- Employer
-- Start date
-- End date
-- Salary

- Employment / Income History (2)
-- Occupation
-- Employer
-- Start date
-- End date
-- Salary


-- Will You Agree To A Background & Credit Check?
-- Can You Pay The Background And Credit Check Fee?

Criminal histories
-- Prior evictions
-- Criminal convictions

Credit / Payment history
-- Is your credit score at least 740+
-- Have you filed for bankruptcy recently?
-- Have You ever paid rent late before or late on any payment?
-- Have you ever received an eviction notice?

Can you make the rent payment electronically on a recurring basis on time?

Hi,

I'm buying a property in NJ and paying all cash. My attorney's office says I need to wire the money to the title compancy. They have already sent me the wiring instructions. I feel way more comfortable getting a bank check and have mentioned this to the attorney's office but I'm told that it has to be wired. They say the title company won't wait for the check to clear.

Is this common practice today - title company won't take bank check and just wire. In the past I've always used a bank check.

Any one else run into issue like this. 

Thanks!

Hi All

For a 2nd floor condo am I better off with LVP or laminate for noise reduction?

HOA requires an STC of 65+.

Are there LVP or laminate flooring options that already have an attached STC pad rated 65+ ?

Thanks

Attorneys office asked us to do a Level 2 Chimney inpection. Over all it was ok but the refractory panels are cracked and the grate is broken. Are the refractory panels a significant enough issue to ask credit for ?

Hi All,

I'm buying a condo in central NJ. After we did the home inspection, the report had a few items that we would like the seller to address or give credit.

The condo is 30+ years old and the windows are original - some do not open, some have bcome foggy, and all of them have lots the seal between the dual pane glass. It cost's about 8k-9k $ to replace all the window. What is the best way to negotiate this with the seller? What can I realistically expect?

As per HOA it is up to the owner to replace the windows.

Thanks!

Hi Everyone

Should I buy now or wait till after August? Would demand lessen by then.

My plan is to buy a condo (in a relatively hot area) in the next few months. It in a good school district, close to great university, shopping, train station and accessible to major roads.

I’m buying to shorten the distance to work and also as an investment property. I’m not a first time buyer but these condos are typically purchased by first timers.

Inventory is low right now and I would say I have time right now to delay - may be a few months. Should I wait till after mid August to buy? Then I won’t have to compete with people buying for the school district. Usually May-June is peak time.

I was about to put an offer on a unit this weekend but decided to wait it out a week since there are two offers on the plate already for the unit.

Thoughts and insight are welcome. Thanks.

@Steve Vaughan

Ok. What ever the loan amount is, it would cost $$$ to initiate. So if a loan is taken it makes sense to just take as much as you can. On an investment property the entire mortgage amount (principle and interest) can be itemize deducted from taxes.

In what cases do all cash offers work? How would I approach the seller side to do an all cash offer and get a discount?

Hi

Just opening a discussion topic for pros and cons of buying investment property fully cash down or 50% down?

What are the benefits of either? I don’t have much experience in investing in properties. I was only a landlord for two years from 2011 to 2013. This was from necessity not choice. We had to move to a better school district so I had to rent out my paid off town house for couple of years.

Overall experience was good.

Today I’m thinking it would’ve been nice if I had bought a second property in a good school district and put on rent.

Thanks.

@Dharmesh Shah

Will do. Any particular community you can recommend?

Hi

I am looking into buying a second property (condo) in central / south NJ to shorten my work commute from Bedminster to Mt. Laurel.

I want to buy a property that can hold it’s value even in a recession and that could be rented out later if needed. Would anyone have any insight for me on where (towns) to look?

I was considering condos in West Windsor township or Robbinsville as this would be more of midpoint for me the the wife’s commute and they both have good school districts.

If any body from the local central NJ area and knowledgeable can chime in and suggest to educate me a bit I would really appreciate it.

Many thanks!