All Forum Posts by: Tim Booz

@Kevin McDonald I use an ipad app called happy inspector. It's very comprehensive, and gives you a digital signature option to have the tenants sign off on. One you're done you can turn it into a pdf report to save. You can take pictures of any issues and make notes that show up on the report as well.

Here's a screen shot of the interface, and a sideways one of the actual report w pics taken of the issues (couldn't get it turned around the right way, sorry).

If you download it you should get a couple free inspections before having to pay for them, so it's probably worth checking out.

Good luck with the new tenants!

@Michael L. If you're just going by the lease verbiage you posted, "yard" means "trees" and "maintain the yard" means trim the yard, which means trim the trees. It doesn't say that you're responsible for routine maintenance, but just maintenance. I imagine that's where your landlord stands on it.

That said, I feel for you as a tenant. I wouldn't want any of my tenants climbing a tree with a pair of shears or a saw. You should look into your local laws to see what they say, and possibly talk with someone at town/city hall to see if their are any specific ordinances that could help you out.

@Amer Mallah I can't give you a buy and hold perspective, but I can give you one from a property manager. I think response within a business day is definitely reasonable. It sounds like you guys need to have a conversation to set some expectations. There's probably a disconnect somewhere - at least I hope. 

Maybe they're in the field between certain hours, and don't have email on their phone. Maybe they'd prefer to receive a voicemail, and then return it via email. Or, and this is totally possible, maybe they're just bad at getting back to people, and you need to run the other direction.

 I think a conversation to see how you guys can best communicate will go a long way, if you do want to stick with them. Either way, I think expecting communication within the business day is totally reasonable on your part.

@Robert Khederian Forgot to tag you in there.

@robertkhederian

It is very doable, you'll find quite a few bigger pockets members that own property in Hudson County - many in Union City and Jersey City.

Make sure you look into the different neighborhoods if you're exploring Jersey City, the neighborhoods can be radically different 5 minutes away from one another. Most tenants are aware of that - but sometimes out of town or new owners are not, and it can be misleading. That said, there are good opportunities, it's just a matter of your criteria and some searching.

Google maps public transit calculator should be pretty helpful in checking out locations, you'll be able to see how long the NYC commute is by bus and PATH train, and also how long the walk is from the prospective property to the nearest transit stop/station. (Make sure you're checking times during the work week, as peak vs non peak / weekend mass transit times can vary drastically here.)

@Julie Verardi I'm not sure when the next BP meetup is, but it looks like there's a REIA event coming up relatively soon in NYC (9/9/15).

I know quite a few local JC/Hudson County area people have talked online about getting coffee to talk shop, and I've spoken to a bunch in person that are on board. A local meetup will probably be in the works soon, so I'll make sure to keep you posted when I hear anything about it.

@Ali Boone is spot on that there are a lot of other areas outside JC, even in the NJ suburbs too, but cash flow is achievable in JC. It's just a bit of a search to find the right place, and avoid all the ones that are really tempting on paper but brutal when it comes to tenant selection/quality/location.

@Marco Y. Good catch, I had my agent hat on when I read that. I'm pretty sure the link you posted is the latest legislation on the topic. I know there were a couple bills proposed that would change the requirement, but I don't think anything came about.

@Henry L. I personally avoid the area when it comes to management properties for the same reasons @John Errico mentioned. It's tough finding good tenants there ( but not impossible. If using an agent  you'll probably need to plan on paying the Realtors their one month fee, as tenants in Greenville will likely not pay it as they will in other parts of Hudson County / JC. If you're selecting your own tenants here you'll be devoting a lot of your time to tenant screening/selection/showing process. Make sure you do an eviction check in addition to a regular credit and background check, there are "professional tenants" around, and they can be a huge roi killer. 

Are you shooting for property in the Greenville area, or did you just end up there based on the numbers of this place?

@Glen Page  Every company and their uncle will be willing to sell you a list. You can go to the county courthouses to get them, or you can pay a whole bunch of different services. I can't direct you to who might be best, since I don't actively use a service like this. You could do a search for xyz area lis pendens and pick your poison.

@David Swygert That makes so much sense. I never considered that an indoor place doesn't have to worry about the weather, not to mention the captive customer base. Very interesting from an outsider's perspective.