All Forum Posts by: Yinna Wang

@raulrapalo That's not a bad idea!! I think if there were a Worst Tenants blacklist, it should be privately accessible by Landlords only. Don't want other tenants to get any ideas! Or it could just have basic information, and maybe a short description of what they did. 

@michaelmckay Looking forward to this! Won't be able to get there till 7:00pm though. Will you start exactly at 6:30 or will there be general networking before? 

Hi All,  

I purchased a 4plex earlier this year and I'm looking into submetering the units. There seems to be a couple of companies that will set you up with the meters, then also handle the billing and maintenance to different degrees. I'm wondering if anyone here has any experience with these companies, could share some tips, and help me choose which one I should go with. So far I've found three: www.multifamilyutility.com, www.realpage.com, www.guardianwp.com

Thanks for reading!

Joseph Scorese Great list! I just purchased my first rental property on South Orange nj transit stop. Could you please share more on your point : Evaluate the tax balance of industry to residential in the towns? How do I find this info and what does it mean? Thanks!!

@Account Closed is bidding on a condo. Sure there are moral issues here, but if at the end of the day you just want the property, are there any legal implications? Does the seller's own legal troubles transfer to the his properties after they are sold? 

Thanks @Dave Van Horn! I'll look into him.

My fiance and I are buying a multifamily home to owner occupy. We are going 50/50 on it. However, I'm paying with my own money. And he is getting private lending. His private lender is a family member, who is proposing an entity structure that is an LLC owned 50% lender, 50% my fiance and me, with insurance and operating costs funded by lender.

This all seems quite complicated to me, so I'd like to find someone with entity structuring experience to speak to. Is there a lawyer that specializes in this? Can anyone recommend one? The house is in NJ. 

Thanks for the responses!

@Russell Brazil The people freaking out were personal family/friends who own personal property. Everyone we spoke to who were RE agents and/or investors were less dramatic, more aligned with what you said. Maybe it's an investor mindset?

We went with the agent's recommendation. Both the agent and the attorney own investment property. Will keep you posted!

Hi everyone, 

My broker recommended an attorney to use for our contract. Everyone we've told this to is freaking out about how it's a conflict of interest. Should we get our own independent attorney to review our contract? Has anyone ever used an attorney recommended by their broker? 

I'm really torn because someone can easily come along and outbid us at any moment so time is of the essence. We want attorney review to go smoothly, but also want to make sure the person we hire to look at our contract has our best interests in mind. 

My fiance and I are looking to buy a multifamily property using FHA 203k. The trouble is, it's a pretty hot market and most houses have multiple FHA bids on them. Is there a way to make our FHA bid more attractive than the others? Do I just offer more down, like 5% instead of 3.5%? What if I offer 10%? Or is it no longer FHA by then?