All Forum Posts by: Ro Maga

We've used Jonathan Donenfeld out of Jersey City. Check him out. 

This is awesome. Thank you!  I had already crafted something, but I like the clarity of this. 

Hi folks!

Would anybody mind sharing a sample of a California rent control and eviction control EXEMPTION notice for single family homes? I take it from what I've read online that the notice has to quote the law. Am I wrong? Please help. I am helping my parents rent a couple single family homes in Merced and I would like to include these as lease addendi. Thanks in advance! 

@Lashawn McCauley

The city also has parking requirements for such conversions which are rather hard to meet I believe it’s 1 per unit and they cannot be tandem or block each other.

@Joshua Silva

Well Newark’s public school system is improving but it’s got a long way to go. In fact, the city just regained control of its school board — the state took it over for more than 2 decades due to a combination of ineptitude and corruption.

That said Newark has some stellar charter schools and a few exceptional public schools that have earned national blue ribbon denominations. Among the charter schools are the Robert Treat Academy, the North Star Schools, and Kipp.

A good way to find these schools would be looking at the list of blue ribbon recipients available on line.

You also want to stick to the better wards (east, north, and maybe some parts of the central ward). To do that, you’re going to have to increase your buying budget, or lower your expectations further (home schooling?). Or buy a single home.

Good luck.

@Sean Wilt

Like other have mentioned it, this is a scam. Don’t fall for it. It’s the Nigerian Prince of STRs.

We used a 203k loan on a house we bought in NJ in 2016. We started making payments the month after we closed. The house was uninhabitable for 4 months, but we still made payments. That’s what WE agreed to; your contract is probably different. Check your loan documents. I’m sure they clearly outline everything you need to know.

Yes, clean your credit, but also keep saving v Remember that your lender will want to see six months of PITI (principal, interests, taxes, and insurance) in your reserves in addition to your down payment. Some lenders might accept accessible funds in retirement accounts for this, but your best bet is to have it there. You also want to keep your down payment in one account and don’t move it. Must lenders would want to see these monies seasoned for at least three months (to show that’s your money and it’s not being borrowed). Also, depending on how competitive your market is, having enough funds to cover closing costs without asking for seller concessions might put you at a competitive advantage.

“but queens is just to (sic) much hustle to reward ratio” ...and investing in Newark is a walk in the park, right? Have you visited the areas where you are planning to invest, or does this conversation is all based on looking at numbers on Zillow? In today’s market, there’s no reward without too much hustle, and the areas with lower entry prices come with added costs and greater hustle requirements. Yes, there are rewards to investing in Newark, but it all comes with tons of work and boots on the ground. I think people would be more willing to share their resources and social capital to aspiring investors who’ve spent some good amount of time in Newark as a first step in their due diligence. Investing in Newark takes grit.

It sounds like you might need acoustic tiles or something to dampen the footfall vibrations coming from upstairs.