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All Forum Posts by: Mei Zhu

Mei Zhu has started 14 posts and replied 27 times.

Post: Tax efficient tax structure

Mei ZhuPosted
  • Posts 27
  • Votes 9

Thank you 

Post: Tax efficient tax structure

Mei ZhuPosted
  • Posts 27
  • Votes 9

Hi, 

I have LLCs both two members and single members . I am wondering, is that the most Tax efficient way moving forward as I purchase more properties and forms more LLCs?
Also in the state of New Jersey, I have been creating my own operating agreements, I just want to confirm that I am doing the right thing.

Thanks in advance 

Post: Advice on Condo Financials

Mei ZhuPosted
  • Posts 27
  • Votes 9

Thank you; I really appreciate the expertise of this forum. The two years of assessment were for fire monitoring. It is possible that the HOA fee is too low, but my thought is that even if the fee goes up, I have enough positive cash flow to cover it. Since the unit is fully renovated from top to bottom and the exterior roof looks decent, I'm not expecting big out-of-pocket expenses, even though I do have a plan for them. Does that sound reasonable? I like your point regarding how the current service fees compare to the local market. How do I find that out? I suppose I can call another management company to see if they're kind enough to share that information with me. Also, assuming the assessment is unexpected and everything else is appropriately priced, is the reserve in the condominium normal for a small property of this size?

Post: Advice on Condo Financials

Mei ZhuPosted
  • Posts 27
  • Votes 9

A condo we are interested in purchasing is currently under the attorney's review. It is a 20-unit townhouse/condo with upstairs/downstairs and has an HOA of ~$275 per month. The condo has a reserve of ~$18,000 and checking balance of $9,500. Last year, there was an assessment of $6,500.00 (~27 per unit per month), and this year, there was an assessment of $8,000.00 (~33 per unit per month). There was a negative net income of ~6000 for 2023, negative net income of ~$400 for 2024.

I am waiting to hear back from management regarding any large capital expenses in the upcoming years. I know that they have to pay for the audit and reserve study for 2026, which will be around $7,500. 

This condo is one of the few in my county where I can have a positive cash flow with only 20% down. The unit is fully renovated, featuring brand-new appliances, including a new water heater.

I want to know if these types of figures for a small condo unit are normal or I should walk away. My prior purchases are in much larger complexes, and their reserves are much larger as a result. 

thank you in advance

thank you to everyone who responded. This is truely helpful. I think I am going to purchase one to stay competitive and purchase it with 8 year insurance from PC richards. They said they would fix at no cost, as often as needed and replace the machine if it cannot be fixed. I will have a piece of mind knowing exactly how much i have to invest in the next 8 years. What do you think?

I am renting an apartment in a complex that has washer and dryer normally installed in each unit but this unit I am purchasing does not have one. I know its one of those appliances that breaks down frequently. Should I install one or have the tenants pay for one and requiring them to have a professional installation? Any suggestions would be appreciated. 

Post: Tenant emergency Reporting

Mei ZhuPosted
  • Posts 27
  • Votes 9

thank you very much!

Post: Normal wear and tear

Mei ZhuPosted
  • Posts 27
  • Votes 9

thank you everyone. seems like the answers are all consistently here which is nice to see. 

Post: Normal wear and tear

Mei ZhuPosted
  • Posts 27
  • Votes 9

are nail holes considered normal wear and tear or do you charge tenants to patch these holes when they move out? I did state on the lease that tenants are responsible for holes in the wall. thanks

Post: Tenant emergency Reporting

Mei ZhuPosted
  • Posts 27
  • Votes 9

Was going to provide the following write-up to my tenant re: who to call in case of emergency. feel free to add any suggestions. I am a condo owner.  thanks. 


  • Tenants will still call the landlord first for emergencies inside the unit interior (ie appliances, air conditioning, plumbing inside the walls).

  • Common area issues (hallways, roof, lobby, elevators, exterior doors, landscaping, heating, etc.) are HOA’s responsibility.

  • It is preferred that the tenant call/text us first and we will call the HOA. If it's a matter that cannot wait, please call HOA and leave us a message that you have already called and please update us along the way.

      Fire, smoke, or gas leak (evacuate then call 911 first, then landlord).

      Always evacuate first if needed for your own safety then call 911 then the landlord.

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