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Updated over 9 years ago on . Most recent reply

User Stats

41
Posts
9
Votes
Jeffrey Carusotto
  • Wholesaler
  • Keansburg, NJ
9
Votes |
41
Posts

Making deals in Newark but nothing is getting accepted

Jeffrey Carusotto
  • Wholesaler
  • Keansburg, NJ
Posted

I am looking to buy multi families in newark I have one property on Summer ave in the north ward and am looking to buy more. I am told to stay away from the south streets and find trulia's crime index to be a good starting point  so I usually make offers in only the green and yellow sections. Anyway I made around 30 offers in the past month and everything got rejected I am making offers threw off market deals and stuff on the mls I been using the 70 percent rule minus repairs and it seems like I am consistantly outbid with the highest offer around 10 percent higher. I just wanted to know if other buy and hold investors are having this problem because newark seems to be HOT right now. 

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