All Forum Posts by: Jessica Zolotorofe

The risk is they have more time to cancel. Usually if it's residential it's to find a wholesale end buyer or they are shopping a bunch of properties and will pick their favorite at the end. The way around that is to have your contract have a tight clause that only allows termination (not for "any or no reason") if they find a mechanical, insect, electrical, plumbing, environmental or structural issue that the seller is not willing to remediate. 

Definitely agree with everyone on the Tom's River investment. Newark, the Oranges, Montclair (watch out for high taxes in Essex), Jersey City, Union City, North Bergen-those are some of the hot spots. I'm not sure about 2-3x asking, but these will go fast. Key is to get in to look right away and make a strong offer. Look at properties listed a little below what you can afford so you have the flexibility to bid higher and stay with the competition. 

I work with @Vaughn Smith all the time. He works with tons of EO buyers and knows the process from beginning to end-every neighborhood, working with the city on COs, etc. Definitely reach out to him!

You can test the soil around it to make sure there is no contamination, but sometimes stirring the land when you remove can cause contamination, so that's a risk. If it was properly decommissioned with permits and inspections, leaving it there is also an option. 

Definitely makes things easier, but liability even with a few SFHs should be a concern. I wouldn't want more than a couple of properties subject to blanket liability, but if convenience is the primary concern, then yes, a single entity is the easiest.

I know they aren't local, but I actually found TD Bank has the best rates and is the easiest to work with. I also like HSBC and Lakeland Bank. I have contacts at all 3 if you'd like.

If anything is done within a specific store it's not part of CAM anyway. Depends on your lease language whether you have to do anything, but doubtful. None of my landlord clients change batteries or light bulbs other than parking lot lights or external light fixtures servicing the whole center.

Hi @Michelle R. If there is no provision in the lease requiring it, then you don't have to do it, but if you have such a big center you probably have a handyman that can take care of them and not have an issue with the tenants. Just pass it through to them in CAM expenses. I'm sure that's permitted if you handle. Any operating expenses are. Is there a cap on their CAM, is that the problem?

Hi @Alexis Manco Google the Ballan Improvement Group. Dave Ballan is really good and so clean and quick and does a lot of work in that area. 

Depends on how far away we're talking and whether you are looking to invest in residential or commercial. Generally speaking, if it's commercial, one attorney can handle all (we have local counsel in most states to assist on state specific issues) for residential, the laws are too specific typically and it's better to have an attorney right near the property. Also doesn't pay for an attorney to travel to another state for a closing, and some title companies and lenders won't allow escrow closings, so I would say residential, keep it nearby the property.