All Forum Posts by: Paul Cadorette

JUST KICK ***

=]

  I feel like this guy will really try to screw you over if you go the eviction rout.  Just as @Jessica Zolotorofe mentioned earlier, they may damage the property out of spite.  The eviction process is long and they will live rent free if they just decide to stop paying you during the process.  

This may not be the best option...However its one to consider.  Consider "cash for keys".  Pay them enough money to have them leave right away and get into someone elses appartment.  You wont risk months of lost rent and could avoid the damages.  

Hello Brandon,

Excellent topic and props to you for researching and deciding this is what you will like to do.  Everyone is bringing up great points and is spot on.  Theres something else you should know.  I wanted to point out that its important to know when going fha on a 4family.  Slightly more cash is needed to secure the deal. . . Reserves! - FHA does not have any financial reserve requirements on single family homes or duplexes. Three months of cash reserves are required on 3 to 4 unit homes. Keep this in mind when saving and analyzing your deals.

Best of Luck my friend! 

Hello Nick,

1st off, Congrats on all your success so far!  

I'm securing an investment property right now and have been nothing but pleased with the following lender. His professionalism is 2nd to none. I HIGHLY recommend him.  He can definetly help you with the loan your looking for.   

Im going to PM you his details.  

Who cares about all the little details.  My opinion is as follows:

The security deposit is never for the last months rent Unless you agree to it.  If you say no...ITS NO!   

Have them come up with the last months rent and you may return the S.D. after you inspect for damages.  

Hello Ray, 

I dont know much about tax appeals except for the fact that you must file an appeal from Oct. 1st - April 1st.  And if they rule in your favor then the new assesment is not applicable until the following year.  You wont reap the benefits right away.

check out this link, hopefully it can help   

http://www.appraisaltrend.com/taxassessmentappeals...

Hey Paul,

Great name by the way! Very glad you caught the REI bug and are looking to venture into this wonderful/wacky world. I have access to a few tools that generate NJ market reports, they may be useful to you. Feel free to reach out to me anytime.