All Forum Posts by: Helen M Leyzerovich

Hello to all! My in-laws have received an offer on a condo they own with a seller financing request. They're open to it, but need an attorney to handle the negotiations and contract. Would anyone be able to help them please. West Palm Beach area. Thank you!

@Joshua Braskett and @Art Perkitny thanks so much for your feedback! Per unanimous vote, we're staying away from that area of Trenton.

Art- thanks for the very thorough statistical data info. It is a great additional resource for us to use in our research with unfamiliar areas. We currently use city-data.com which is also a great resource! 

Thank you so much @Joan Pitoscia!!

Hello! 

Not at all familiar with the Trenton rental market but there is currently an interesting Multi Family deal available that I'd like to review further. Considering my non existing knowledge of Trenton, would anyone be able to please advise if they have any experience in that area, specifically Stuyvesant/Prospect neighborhood. Or recommend a good realtor around there? Thank you! 

@Mike McCarthy yeah we thought to maybe leave it in for a year or so but sounds like the better we get rid of it the better. Thanks again ! 

Hey guys - thanks so much! Looks like that tank should be coming out.. appreciate all the input!

Hey guys - 

In AR for a 3 Unit property that has an underground operating oil tank in place.  Oil is used for heat and hot water, but there are already separate gas lines (and meters) for cooking gas. Had an oil tank sweep performed to make sure that there are no other abandoned oil tanks (there aren't), and are currently awaiting results from the soil sample test. 

Plan was to maybe leave the oil tank in place, for maybe a year, maybe less, just to understand how things are working. Current owner does not have oil tank insurance in place. 

Trying to figure out what is the best solution. Should I get oil tank insurance once I purchase the property? If so, does anyone have suggestions on a good insurance co for this? Or, should I not bother spending the money on the insurance and rather put that money towards removing the tank and get the gas in? If anyone dealt with this before, your input would be greatly appreciated! 

Thanks so much!!

Helen

@JD Martin - YES! Thank you!! 

@Charles Carillo - 

Thanks so much! Super helpful! I bet they don't deposit all cash they receive as well. Thanks for the suggestion on requesting all bills! 

Hello guys and gals. My partner and I are considering a 14 unit apt complex in NJ. We met with the landlord and saw some of the units (we will see all if we decide to proceed). It is a C class property in a B/B+ area with A LOT of new development being done around every corner. It's also a 7 min walk from the direct train to NYC. 

Our main concern at this point is that most of the rents are paid in cash and there is no T12. We have monthly rent amounts per each unit and total annual expenses, but it is all from OM. Some tenants are month-to-month and others have term leases. The landlord is pretty hands off but promised to provide leases on all units if we were to have a contract.

Would anyone be willing to weigh in on such situation? We think there is potential and per OM the property is cashflowing nicely, but that's per OM and we know those aren't always very truthful. 

Thanks very much!!