![]() ![]() Can I come see the property tonight? Daughter has a softball game, how about tomorrow at 6pm? Sure.I think I called this house a couple months ago but it was under contract or something? Yes it was on the market, but the buyer’s financing fell through.Why aren’t you using a realtor? I don’t want to have to pay the commission, I feel I can sell it myself and could use that $17,000 commission cost for renovations at my current house.Why are you looking to sell? I’ve owned it 30 years and it served me well but just want to retire from being a landlord.Is there parking? Only street parking, but it’s not an issue.What is the set-up? 1st floor: 2bdrm/1bath, 2nd floor: 2bdrm/1bath, 3rd floor: 1bdrm/1bath.Tenants on lease or Month to Month? 1 on lease, another month to month.Are utilities separated? Yes 3 hot water heaters, and 3 hot water boilers, with a house electric meter.Is it vacant or occupied? 2 units occupied, 3rd one vacant.Is it a legal 3-family? Yes, although I did have a 4th renter, a friend in the finished basement, but the town caught wind and had him kicked out. Quadplex property evaluator series#The owner picked up the phone – very nice guy – and I proceeded to ask him a series of questions: So this came up and I called: The Craigslist Ad I get an automated email from every time a post in the North Jersey Craigslist under the Real Estate for sale by owner section has the word “Family”. 4/7/17 (Day 0) – Found the Property Listing & Analysis Trustco Bank is considering 75% of our gross rents($4310/month) as income. ![]() My Wife is a stay-at-home Mom so we essentially have only one income, but we are using the same portfolio lender that we used the first time – Trustco Bank. It is low because we already own a $630,000 quadplex(Purchased for $430k just 1.5-years ago) and even though it pays for itself, a lot of banks won’t consider the rental income until it appears on two years of tax returns.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |