All Forum Posts by: Yuki Yu

I heard that lender’s credit becomes not available because refinancing market is too popular these days.

May you share your insights with me if any banks or lenders you come across recently still provide lender’s credit? If yes, may you name it.

Thanks.

Anyone would share what rate you locked in September in NJ for a residential investment multifamily property?

Buying a 4 unit house now and would like to learn the market rate.

Thanks.

@Max Skoryk

Thank you Max. I believe it’s a boiler steam, which has replaced 7 years ago by the seller.

How much it costs to convert the heating system?

I believe the hard part is to get approval by the town for the works.

@Alecia Loveless

Many thanks, Alecia. It’s surprised but happy to hear a boiler could last 41 years.

May you advise more details how do you clean it every year? Do you do it by yourself or by a handyman?

@Kathy Henley

Many thanks for sharing your comments, Kathy.

This makes me feel much better and I have checked the boiler has been replaced within 7 years and now in a good shape as of now.

What do you think to buy a four family house with 1 boiler heater?

I am thinking of the risks and cons are:

1) more utilities cost as landlord should pay for the heat

2) if the heat doesn’t work in winter, the entire house becomes very cold and the risk of pipe exposure

3) if the heat doesn’t work in winter suddenly, do you think it’s landlord’s responsibility to find hotel for the tenants to live temporarily? Better to fix it immediately, but how long time it’s takes to replace a new boiler heater?

Anything I am missing?

How much to divide one heater into 4? I believe it needs pipes and a lot of labor costs.

Look forward to hearing your thoughts and comments if you agree to buy a four unit rental property with one heat.

Thanks.

Yuki

Hello BP,

This is Yuki. I just started investing in multifamily Somerville and Middlesex. Interest in adding more multifamily properties to my portfolio. Also consider to multi-unit apartments in the future.

Happy to meet other investors, contractors, and other RE experts at BiggerPockets.

It’s amazing and helpful we could share with each other some handyman and contractors in central NJ. Now I have started building local handyman and contractor teams in New Brunswick, Highland Park, Somerville, Bound Brook and Manville. Happy to PM and share.

These days it’s not easy to find multifamily deals. Looking for joining some webinars or meet up network events.

Thank you and be well.

Best,

Yuki

@Steven Del Prete

Hi Steven - let’s connect if you do handyman jobs in Somerset and Middlesex counties.

Thanks.

Best,

Yuki

@Lauren C.

Hi Lauren,

Welcome! We are a husband and wife RE investment team as well.

We found a lot fun to invest multifamily and do analysis together.

Let’s continue to share!

Best,

Yuki

@Chris Masons

Christ - thanks for sharing your insights.

I have been investing in Middlesex and Somerset.

If you don’t mind, let’s share some local handyman and contractor contact info with each other.

My goal is buying more multifamily or maybe multi unit apartments to build passive income.

Best,

Yuki