All Forum Posts by: Joseph Senno

Thanks for the advice. 

Hi there,

My wife and I are starting to plan to renovate in our two family home (We live on the second floor and will be renovating the 3rd floor to update bedrooms and add bathroom). We have some cash on hand that may cover most of the work, but are exploring other options. What are some routes we can go to try to find reno loans (if that's the right term)? Should we just call a bank and do a local search? Any advice is appreciated. Thanks

That's a helpful answer on both accounts. Thanks, Marian. 

Hi all,

Our tenant asked us to repair the kitchen floor, the vinyl sheet flooring is old and has torn up in some places. He's offered to help cover the costs. They have dogs, which may have caused some of the damage, but I think it's mostly time and wear/tear. 

How might it work if a tenant is offering to help cover repairs/improvements? Is this common or is there a standard percentage (50%)? 

Any info in appreciated. Also on preferred kitchen flooring (it's about 165 square feet). I've heard a lot about LVF, should this be our first consideration?

Thanks in advance,

Joe

We only have one unit. They had been using Zelle, but they just resigned the lease and asked them to pay by check. 

Hi there,

I'm looking for CPA for our 2 family house in NJ. Usually my wife and I file taxes separately. Should we think about filing jointly now that we own a home? 

Hi all,

We recently purchased a two family in Bloomfield, NJ and are looking for a CPA to work with on tax prep. Any referrals or advice on what to look for (eg how local do they need to be, any specific certifications or experience to look for?) is much appreciated. Thanks a bunch.

Best,

Joe

Thanks for the tip, Zachary. 

Thanks for the reply and info. I've been watching some webinars and it's been helpful, and yes, from the little research I've done, it looks like I'll need to wait on some deals :)

Hi there,

Brand new at this. Wife and I are considering house hacking (in the North East Coast).

Our goal right now is basically just to try to live rent free, by having rents cover most of the mortgage (likely in a duplex). We both have full time jobs. 

I'm looking at calculations on how to get started, and am getting a bit confused by trying to understand the numbers if we are planning in one of the units. 

Is there some shortcut to understand numbers this way, or do I just need to get more familiar with the numbers. 

I hope that all makes sense.Thanks for any help. We're happy and excited to be here. 

Best,

Joe