All Forum Posts by: Adam Pervez
Adam Pervez has started 31 posts and replied 67 times.
Quote from @Shawn Mcenteer:
@Adam Pervez I host a few meet ups in North Jersey, We do coffee on a weekend or bar type setting on weeknight each moth.
I'll text you! I'd like to attend the next one.
Hi, I am looking to attend any meetups in Central and North New Jersey. If anyone is hosting anything next month, I would love to attend and meet new people in this space.
Thank you!
Post: Seeking Advice on expanding my Real Estate Portfolio
- Posts 67
- Votes 22
Quote from @Joseph Chacko vellukunnel:
fellow NJ investor here, I've been looking on expanding my portfolio.. researched columbus for a couple of months, but couldn't find "great" deals, unless it was in class C or lower neighborhoods. This didn't make sense to me since I don't have a good property management team in there already.
I live in the jersey city area, it's hard to cash flow here even at 25% down, trying to network and see what other good opportunities exist. Might even look at private lending and get some truly 'passive' income.
That's what I am coming across as well. The areas are a bit sketch but the profits are there. I guess it just all depends on having a system in place to alleviate issues that will come down the road. Let's connect!
Post: Seeking Advice on expanding my Real Estate Portfolio
- Posts 67
- Votes 22
Quote from @Simon W.:
@Adam Pervez I am in the Easton area. I am always around Allentown as well. I moved from NYC 5 years ago.
Shot you a connection request!
Quote from @Ethan Cramer:
Hi
Nice to meet yall. thats an area i'm very familiary with. did yall end up purchasing properties there?
Hi Ethan - Do you still work with clients in the East Stroudsburg area?
Post: New investor in East Stroudsburg, PA looking to network and invest in first property
- Posts 67
- Votes 22
Quote from @MaryAnn Kelly:
Greetings,
I'm just getting started with real estate. I'm studying for my Real Estate license, enrolled in a Real Estate Program, going to Meetups, and joining Facebook groups that interest me.
I'm learning the BRRRS method and want to obtain my first rental property soon. First order of business is networking. I would like to expand my contact lists and connectors with PML, HML, Real Estate Agents, Property Management, Insurance, and more.
I'm located in East Stroudsburg, PA looking at 2/2, 2/1 SFH, Duplexes, MTR, in my own backyard but looking forward to expanding my portfolio to other Landlord-friendly states. Any and all assistance and guidance is truly appreciated.
I wish you all good fortune in 2024!
MaryAnn Kelly
Hi MaryAnn, did you ever connect with any resources for East Stroudsburg?
Post: Seeking Advice on expanding my Real Estate Portfolio
- Posts 67
- Votes 22
Quote from @Simon W.:
Quote from @Adam Pervez:
Hi BP Community,
I am writing this post because I feel like I have been stuck in expanding my current portfolio. I am 27 years old and earn around 150-160k in gross income from my W2 which is remote. I have a duplex in Lehigh Valley Pennsylvania which currently cash flows 800-900 a month. I work a side job for a friend and make 3-4k gross income. I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.
I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.
I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down. I am fine for long term growth and don't mind working for the next 20-30 years to build a sustainable portfolio with no mortages on them as the end game plan.
What would you do? Happy to clarify any more information on this since I know this is very open ended...
Where in Lehigh Valley? I am in the area there are good amount of properties here that definitely can be added value.
I wouldn't suggest investing further than 2 states away from where you live.
In Easton but looking at Bethlehem now as well. Where are you at?
Hi all -
I am looking to expand my portfolio in LV and was wondering what people were buying in how the market is today. Thinking of doing another MFH purchase but was curious how SFH do in LV.
Post: Seeking Advice on expanding my Real Estate Portfolio
- Posts 67
- Votes 22
Hi BP Community,
I am writing this post because I feel like I have been stuck in expanding my current portfolio. I am 27 years old and earn around 150-160k in gross income from my W2 which is remote. I have a duplex in Lehigh Valley Pennsylvania which currently cash flows 800-900 a month. I work a side job for a friend and make 3-4k gross income. I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.
I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.
I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down. I am fine for long term growth and don't mind working for the next 20-30 years to build a sustainable portfolio with no mortages on them as the end game plan.
What would you do? Happy to clarify any more information on this since I know this is very open ended...
Post: Wanting to get thoughts on a duplex I am under contract for
- Posts 67
- Votes 22
Hi BP Community -
I am under contract for a 2 family home in Bound Brook, NJ built in 1880. Property is in okay condition but has some leaking pipes in basement and needs a water line for the 2nd unit to have better water pressure. There is also termite presence potentially since treatment was done and other issues that I am thinking will be around 8-10k. Electric and plumbing was modernized but there are still some galvanized pipes that have issues. My offer is 560k which is 60k over ask price. Cash to close is around 47-48k with a 5% conventional to house hack. If I have around 70k liquid cash now and I put in the 47-48k to close, I will be around 22-23k which I would need to do some repairs and maintenance around the home. Now, I can negotiate seller credits to address some of the plumbing issues and have them run a water line for the 2nd unit. I believe if I get the upstairs unit (3 bed, 2 bath) ready, I should get around $2700 per month for it plus they would cover utilities. I am looking at a 4700-4800 monthly mortgage. I would have a roommate living with me for $1000 and we would split utilities for our unit.
My concern is that with 70k liquid cash, I would get emergencies in the property that I may not be able to cover right away. What would you do if you were in my shoes?
Listing - https://www.zillow.com/homedetails/428-E-Union-Ave-Bound-Bro...