All Forum Posts by: Peter Fokas

When you do a lease is there a minimum lease payment made to the laundry company? Trying to assess all the costs:
I know costs to landlord may include water, electricity but is there any lease payment as well?

I ran a credit check for a potential tenant with the social security number but Transunion came back with "applicant not found".
I put his address, name date of birth and social so little concerned that nothing found. What should I do?

Anyone have experience offering washer/dryer in individual apartments? I know there are postings here in regards to common area laundry rooms and the lease vs buy alternatives but wondered if anyone had experience upgrading apartments to include washer/dryers. Is it worth it?

I know there are state programs that offer financial incentives (rebates) to upgrade heating/cooling systems. Anyone ever do this and if so was it worthwhile for their investment property? Would like to hear some experiences about this.

Looking to get a 6 family investment property under an LLC but also considering getting umbrella insurance. Any opintions? Should umbrella insurance be under the name of LLC or the person? Also what is a good amount? Looks like its 1 million and up.

I am in contract to purchase a 6 family building in NJ. Green card inspection was done but will take 2-3 months for the actually green card to be issued.

Since no green card in hand my lender requires 5k in escrow to cover any suprises. I do not want to wait 2-3 months to close. What should I do?

Who should bear the responsibility of the 5k in escrow - seller or buyer?

I thought a real estate agent can be considered an independent contractor hence can be a treated as a sole propietor or an LLC. I know a single entity LLC is not really recognized but then all you need is to have more than one member to the LLC. S-corp I do not know the details about.

My wife is planning on becoming real estate agent part time in the beginning. Seems like if she incorporates as an LLC it may help limit liability and also introduce tax benefits. Is it worth it?

Thanks for the feedback. What about for investment properties where the tenants pay for their own electricity

I still not clear to me how one can profit by installing solar on an investment property? Can someone elaborate.