All Forum Posts by: Sooyeon Kim

@Jason Bott hi jason, I won't be living in there. 

Thanks

Soo

Rikako Wakabayashi hi rikako, thank you! Just sent you a msg.

Hi all, 

I'm in the process of getting a 3 family house in union city which was built in 1913. Due to its age, i have been having hard time getting a coverage. 

The only one that i got was from liberty mutual;

Dwelling 350k

Other structures 35k

Personal property 0

Loss of use of insured location 70k

Personal liability 300k

Medical payment to others 2k

deductible 5k

and the premium for this coverage is $3684

does it look somewhat reasonable? if not, what would you recommend? 

I'd love to here from BP experts. 

Thank you in advance!

Mark Rogers hi mark, I'm wondering how it ended. I also just won a short sale property. My previous experience with xome.com was pretty smooth. And wondering if it would be different for a short sale property.

Greg S.

 I looked up the union city tenant law chapter 334, rent stabilization as well as all the posts in BP, but it was not clear about above questions where as other cities have more clear cut guidelines. Certainly, i will get to read all the chapters at some point, but i'm asking a guidance if either someone share their experiences or guide me which chapter that i need to read to get the information.

Thank you.

Hi all,

I'm interested in 8 family house in union city and learning rent control laws in nj. Out of 8, 2 are protected tenants who are paying less than 400/month and other 6 are section 8. I have few questions but hard to find answers;

1. Does union city have vacancy decontrol law? If not, does that mean i cannot reset the rental price between tenants?

2. Do i have to take on rest of 6 section 8 tenants? Or can i ask the seller to deliver i few units vacant? 

3. If i separate heat, can i ask protected tenants to start paying their heating bill?

Thank you in advance for your help and advises.

Soo

congratulations!!!! Some part of the bronx is a tough neighberhood but definitely has good areas as well. 

i'm not sure. His phone number is 86two two two two 2259. You can call him and ask. 

Anita Leta Welcome to BP! It is not easy to prepare for med school and learning REI at the same time but i believe many people had done it. Medical field is a real long journey without good compensation and if you build your portfolio early enough before you start the residency, it would be really helpful for your future. Wish you the best luck!!

Dear experts, I'm buying a condo with tenants living there. I am buying it as an investment property but looking to get a loan as a primary residence. Now the hold up is during attorney review and appraisal process. I'm wondering if the seller can claim it as vacant and close the deal, and the tenants and I can sign a new rental contract later. Or is there any other way to complete this transaction? Anything i should be worried about ? I would really appreciate your insight and experience. Thanks !!