All Forum Posts by: Erica L.
Erica L. has started 13 posts and replied 38 times.
Post: Duplex zoned as Single Family

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Post: Septic Insurance Carried by Tenant?

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Thank you so much for the clarification. That makes total sense. Like I said, I’ve never heard of such a thing and it sparked a red flag for me. However, I learn something new every single day in this market.
Your explanation of insurable interest makes complete sense - thanks again!
Post: Duplex zoned as Single Family

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Hey all,
I know this may be a very sensitive subject for some to comment on - or people may not feel comfortable commenting publicly (feel free to PM me). I’m looking at a duplex that was illegally converted (proper permits weren’t pulled/zoning is still single family residential). I don’t want to pass up the opportunity because numbers like this don’t come by often. However, I don’t want to bite off more than I can chew - or have any money I make be lost through fines and the whole process of conversion. I have a call out to the zoning department to ask about possibly being grandfathered in since it was done prior to my ownership. I’ll also ask how easy and how much the whole process would be to have it legally converted. However, yearly leases are in place and I highly doubt the housing authority would make me evict a tenant just to convert it back. This may be a stupid assumption though 🤷🏻♀️ I also have a call out to my lawyer to weigh in.
I know a lot of investors are fine with this type of thing - and I know a lot are probably like “heck no”…. I’d just like this post to spark up a respectful and constructive debate for each side, weighing the pros and cons of each.
Thank you all in advance for your time and opinions in this matter. Again, feel free to PM me if you have strong opinions on this topic but don’t feel comfortable publicly commenting. 😇
~Erica
Post: Septic Insurance Carried by Tenant?

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Hey all,
I am currently looking at a couple of MHPs and one mentions in the OM that the "owner requires tenants to maintain and insurance the septic system?" I've always looked for public water/sewer (just to avoid headaches). However, I've never heard of the option of requiring a tenant to insurance the septic system - does that fall under renters insurance? I'm hoping someone has experience with this and can shed some light on this situation.
Thanks in advance,
Erica
Post: Asset Based Lending LLC

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Did you end up using them? I’d like to know, as I’m looking for a line of credit on my investment properties.
Post: Minimum down on duplex?

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Thanks @Wayne Brooks and @Jesse Rivera
The one lender was assuming I was going to be an owner occupant. I am not so 25% will be required.
Wish me luck on another close! This will seal my yearly goals for this year! 🥳
Post: Minimum down on duplex?

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Can anyone advise me as to the minimum down payment on a conventional investment duplex? This will NOT be owner occupied. This is in PA (if that matters). Closed on a property a couple months ago in Jersey and had to put 25% down. Now (for PA property), one lender is saying 15% and another is saying 25%. Obviously, someone doesn't know what they're talking about... someone please help, as this is beyond frustrating.
Post: Anyway to avoid transfer tax in New Jersey??

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Hey all,
I recently closed on a duplex in NJ and now I would like to transfer the property into my LLC. I'm wondering if there's anyway to avoid transfer tax when doing a quit claim on the deed. I personally own the property and I also own 100% of the LLC.
I recently talked to a real estate attorney who said the only way for me to get around it would be to pay off the mortgage... which is not currently possible.
To add another layer of complexity, the LLC is registered in PA and the properties I want to transfer are both in Jersey.
Any insight/recommendations would be GREATLY APPRECIATED! :-)
~Erica
Post: Anyone invest with RTR in Ocala, FL?

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
@Joydeep Samanta after due diligence, we decided it wasn’t a good fit for our company.
If you decide to invest down there, keep us updated and let us know how it goes. Either way, good luck. 😃
Post: New Jersey Notice to Quit

- Rental Property Investor
- Northeast (NJ DE, PA)
- Posts 38
- Votes 19
Does anyone have a template for a NJ Notice to Quit?
Thanks in advance,
Erica