All Forum Posts by: Ali K. Hijazi

Yazeed, I would stay away from WNY as they have rent control (I grew up there).  That's why you see most of the houses in pretty poor condition relative to its proximity to New York.  

Purchase Price  $70K

Repairs $20K

ARV $125K

If you're interested, shoot me an email [email protected]

Ali

Hello

Fantastic opportunity that will make you money!

Multi family, 6 bed / 2 baths  in East Orange, NJ

ARV $160-190K

Repairs $30K (cosmetics)

Price $90K

Can produce up to $2600 in monthly rents.

If you're interested, shoot me an email [email protected]

Kind Regards,

Ali K Hijazi

Partner needed for 2 family residential property in Newark, NJ

Offering 17% interest on capital along with up to 25% profit split.

For more info, email Ray Jimenez at [email protected]

ARV $120K

Purshase price: $23K

Renovation costs: $15-20K

If you're interested, reach out to Ray Jimenez 

[email protected]

I'm looking at a property that's worth $370K and my offer is lower than the mortgage balance.   I'm looking to get it at about $245K (70% - assignment fee).  Would a short sale be a good route?  If not, what would you do in this scenario?

Thank you,

Ali

Hello everyone, my name is Ali, I'm based out of Ridgefield, NJ which is in Northern NJ (if you're in the area, let's network).  I'm fairly new to real estate investing and I just want to thank the Bigger Pockets team and all its members for the vast wealth of knowledge you all provide.  I enjoy learning everything there is to know about real estate.  I can't say enough about the forums, the members and the resources Bigger Pockets provides.  

I'm currently wholesaling until I get a few deals under my belt.  One of my goals is to get into buy and holds and build a nice profile to sustain my family through passive income.

So, I have a newbie question regarding properties that have already been updated and need absolutely no work. What is your MAO formula on such properties? I'm familiar with the MAO formula for distressed properties (70% of ARV - Repairs); correct me if I'm wrong. So for a property I described above, which has everything updated, what MAO would be attractive to investors? Is it 70%,75%, or 80% of the current market value?

Say I found a property that is worth $100K as is (in great condition), at what price would an investor think it's a good deal?  I feel if I offer sellers 50 cents on the dollar on these types of properties, I will hardly yield any satisfactory results simply because others will be offering more. 

If my question is a bit ambiguous, please let me know I'll gladly try to rephrase it as best as I can.  Thanks in advance and I hope to network with many of you– and be able to contribute to your goals in any way that I can.

Kind Regards

Ali K Hijazi