Newbie in NJ not so new to real estate

[Jimmy Dumas]

Hello,

Here it goes... I am a Licensed Architect who has helped many real estate developers make a ton of money over the years by designing their projects. Fortunately, I took the plunge in the late 90s and bought a few properties and rode the real estate wave. Fast forward to 2013, I am looking to execute a better plan which includes creating multiple streams of income by investing in multi-family properties that require rehabbing. My goal is to have a 5 year holding period for these properties and then analyze whether it makes sense to sell or to continue to hold on.

I live in central NJ but find myself in New York City, mainly Manhattan and Brooklyn, a few days a week as well as northern NJ. If anyone else is on a similar or parallel path, let me know. If not, I'd like to hear from you anyway. Thanks.

[Joel Owens]

Hi Jimmy,

Those types of buildings we call "value add" in the business. 50 to 70% occupancy is the sweet spot where you can land a cheap per door price but everything isn't stripped to the bone in the vacant units yet.

Those are the quickest to turn around and force appreciation. What size are you going after and money down for your first one??