All Forum Posts by: Orane Jacobs

Is anyone familiar with the rules of renting a basment in Jersey City, NJ? I currently have a duplex and looking to turn the basement into a rental. Just looking for some advice on if its worth it to convert the basement into a rental.

I recently bought a duplex in Jersey City and it has a unfinished basement. I looking to add a 1 bedroom, 1 bath, kichen & livingroom. What are some strategies to fund this project?

What are the best cities to invest in multifamily for cash flow, buy and hold. Currently looking for my second deal.

@Cassi Justiz

Thank you sounds good.

I am very new to landlording. I found out my tenants are smoking marijuana in the back yard. Any recommendations?

I am a new landlord and looking to find the best method of collecting rent? Im currently looking to use an online service. Any recommendations?

@Eli Schwartz

Thank you. Its not for charity. It is duplex where the first floor is fully rented out. And I would live on the second floor which is 2 bed 1 bath. I am planning on renting out the second bedroom. I would pay a lot less than what im paying now for rent.

Should you charge your aunt for rent if your doing a house hack and have a extra room. If yes, what is a reasonable price to charge?

What do you guys think about this house hacking deal. Its a duplex 4 bedroom 2 bath located in Jersey City, asking price 480,000. The basement is partially finished. The first floor has 2 bedroom and 1 bath and it rents for 1,400. The second floor has 2 bedroom 1 bath and rents for 1,650. I can possibly renovate the basement and generate some income from that. The annual property tax is 4,349. My monthly mortgage would be 2,136. Im also using the Va loan so im putting zero down. My estimated closing cost is between 6,000-10,000. I currently rent a 1 bedroom In Brooklyn for 1,600 plus utilities. So my expense would be going down. I would have to come out of pocket 1,218 with this house hack.

I am looking to purchase a duplex In Jersey City with a partially finished basement. Is it difficult to have a kitchen and bathroom in a basement in Jersey City. Im not sure what Jersey City rules are when it cones to having a kitchen in a basement.