Home Buying in Bergen County>Question Details

Nancy, Home Buyer in Maywood, NJ

I am looking for a realtor who is an expert in locating multi family homes.

Asked by Nancy, Maywood, NJ Thu Aug 8, 2013

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6
Hi Nancy
I am located right down the Street from Maywood on Paramus Rd. I own and manage multi families in Bergen county. I even manage one in Maywood for a client.. There are usually several nice 2 families that come up for sale in Maywood throughout the year. The local MLS usually has a selection like anything though the good ones go fast. if you should want any assistance Call Patrick Quinn Nextage Realty Advisors 201-925-4200
0 votes Thank Flag Link Fri Aug 9, 2013
Hi Nancy

I have sold 20+ multi family homes this year alone. I own and live in one now and also purchased and sold a 4 family home. I live and work in Bergen county but also do a lot of work in Essex and Passaic county.

It is best if we could me so that I could find out what type of multi family home you are looking for.
I have or will have about 10 multi family homes on the market in the next 6 months.
0 votes Thank Flag Link Fri Aug 9, 2013
nancy, as mentioned multi family listings are typically in a class of their own in mls. Your agent should be able to search by just that category. In addition if you want they may be able to locate unlisted multi family homes thru tax records. I suggest you interview a few agents who are local to areas you are considering. If possible try to find one who actually owns a few investment homes. As mentioned non owner occupied 3 family homes get state inspections. Dont let that sway you too much because most municipalities require inspections to issue required certifications with each chang ein tenant. In addition at least in Hamilton twp where I have a section 8 tenant they inspect every 6 months. There are pros and cons to being a landlord. The property you select may be simple or more complicated to rent out. In general city water and sewer with seperate meters make your life easier. Shared services become an area of concern especially if you are paying.
Feel free to email me directly with further questions; I do not cover Bergen county but I have been a landlord about 30 years and own multi family homes as well as single family homes.
0 votes Thank Flag Link Thu Aug 8, 2013
Hello Nancy,

I suggest using a Realtor you believe you can trust to look out for your best interests and negotiate well on your behalf. Those qualities will be far more valuable to you when you decide to make a purchase.

If you'd like to interview me as a potential Realtor to guide you through your home search give me a call at 973-521-1061.

Brian Diehl
Realtor - Sales Associate
Prudential New Jersey Properties
0 votes Thank Flag Link Thu Aug 8, 2013
I have owned a multifamily home for years and I have been a realtor for years. I know what to look for which will depend on what the purpose for buying is. As an investment you will need to know what the income is and the return on investment. The viability of the house - are there separate utilities, is it legal (for example 3 family and above are regulated by the state and need regular inspections) and many other things
If you are going to live in it and have the income from the second unit to help pay the mortgage then we are going to look at it like you would a single family home
Good luck and get in touch - be happy to help
0 votes Thank Flag Link Thu Aug 8, 2013
It's not like they are hidden, Realtors have the best tool for finding homes. It's the MLS systems the Realtors own and operate. Even the most novice Realtor can access the MLS and do a search for multi family homes and find all there are currently listed, so you don't need to find an expert to find them.
0 votes Thank Flag Link Thu Aug 8, 2013
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