Tri State+NYC. South Bronx tale: first time multifamily ownership

[Chantal Manning]

Hello BP community!

It is great to have found a REI community with such rave reviews!

The decision and goal is to acquire my first investment property this year. I've attended numerous local meetups, began building my database, overall networking while asking questions and have spent months doing research. There are several properties that appear to have good numbers and fit my criteria for investment.

I was born and raised in the Bronx and have a deep rooted interest in becoming a property owner there - in more ways than one. Although I am a lover of densely packed city living, I am open to the tri-state region as well.

In the past I have sold real estate and rented apartments in Brooklyn, NY. I now work part time as a property manager and maintain a 8-4 as a building and apartment inspector. After earning my degree in architecture, I am currently interning and studying for my licensing exam as a short term goal.

I've not yet made a purchase of property but I've decided this year will be the year I 'start with one'. Right now I have my eye on a property in Newark, NJ which requires the next step of a contactor walk through (currently looking for available contractors). I will also be sending yellow letters to three abandoned properties that I've found in my neighborhood.

I'm on the move and looking for great people local and at a distance to work with!

Look forward to chatting with you all,

chantal manning

[Mark Douglas]

@Chantal Manning  welcome to BP!  so exciting to hear you making those moves !   Be sure to post your deals on the "success stories" forum so we can congratulate you :)

[Account Closed]

@Chantal Manning Its sounds like you're on the right track. Our city is very competitive. Openness to other markets is necessary. Like you I am from New York City, preparing for my first investment! Good luck!

[Dennis Anninos]

We have been lending fix and flip in NY and we just expanded into NJ and FL. I see you are looking in Newark. We will be closing our first Newark deal this week. 90%LTV 100% of the rehab. Start to finish inside of 2 week. I like what I see there and I see the area becoming hot.

[Joseph Kaiser]

Hey @Chantal Manning - I'm also an aspiring architect and investor, welcome to the forums and best of luck! 

[Bill Burch]

Moving to Union City soon to do much the same.  Good luck!

[Ray Reed]

Newark can differ block by block.  unfortunately it only takes one bad house to ruin the block. summer time is a great time to see the true color of the different areas.  good luck on your investing.

[Hem Kumar]

Welcome to the exciting world of real estate investing.  Although there are challenges , it is extremely rewarding. It's simple , what we put in is what we get in return. Feel free to contact me should you need any assistance or guidance. 20 yrs in rentals . Fix and flips, contractor and realtor, I always take pleasure in sharing, learning, growing. 

Good luck in your future endeavors and remember with the education and experience available on this forum, failure is not an option.

Regards,

Hem

[Omar Ismael]

welcome to BP

[Dror Shmaya]

Hi there and good luck.

We are property manager investor's .

Offering full support for landlords and Property manager .

We will be able to help with Bronx intelligence .

D.

[Chantal Manning]

Thanks everyone for thee great feedback. 

@Mark Douglas I'll be sure to post and keep the community updated. @Account Closed I will definitely be taking you both up on the offer!