All Forum Posts by: Allan Szlafrok

@Dannielle Romoleroux John Domingues is great in union county and Manny Rosa is great in Essex

@Joel S. Great job not easy to pull off in Jersey City these days.

This is going to be really interesting to watch. To me (not a lawyer) they seem to have a good argument based on the supreme court case that made this possible, Knick Vs Township of Scott. The court overturned stare decisis (established case law) to make their decision which they don't do lightly so this is actually a really big deal.  Affordable housing is important for the long term viability of the middle class in big cities but maybe the government doesn't have a right to commandeer private property in order to meet their goals. maybe they need to be funding affordable housing initiatives by encouraging development or providing housing vouchers beyond what the Feds do. just a thought. There will be lawsuits filed for all other sorts of burdensome ordinances regarding the right to restrict the use of private property including AirBNB regulations. If any of them are successful even more will be filed across the country. It'll take years to play out but I've got my popcorn ready!

@Reynald Benoit Definitely consider jersey City for a purchase like that. Youll get a lot more hosue for the money and if you stay near the rail lines you can get to midtown or downtown faster than you would on the subway. Most of my tenants and buyers over there are coming to me from NYC because they get more house for the money and its got almost all of the amenities you'll find in NYC, including access to NYC itself.

@Markus Jackson Good choices. there are still some good deals around especially for an owner occupant like you. I picked up a huge 2 fam in West Bergen Right by the light rail a couple months ago thats going to make a lot of sense for a house hacker. Appraisals should be be an issue for you relaitve ti purchase price as all of my appraisals in the area have been surprisingly high. maybe consider a house that needs work a lot of times only investors will be interested and they typically come in at lower offers.I also know some great brokers in the area if you are interested.

@Markus Jackson What part of the city are you looking in? I’m an investor in the area. And you will definitely want a pre approval as a seller I won’t consider offers without one especially in a sellers market like JC.

@Anthony Greene The only way you could evict them without good cause ie: failure to pay rent or other material violations of their lease is if you plan to occupy the unit. Otherwise you need to show cause.

@Mandi Martinez A good partner for a JV brings something to the table that you don't and vice versa. Sometimes one partner has the money and the other the experience and knowledge. Alternatively it may pay to do a JV if both partners are bringing in money and doing so will allow you take down a larger deal. But I can tell you from experience that if one partner does all or more than their share of legwork the partnership will become strained and fall apart. Try to come to an agreement which delineates each partners contributions and responsibilities and hold each other accountable. I would do this before even looking at a deal with that partner.

@Andrew Lawrence I’m looking at deposit alternatives like Obligo and Rhino where the tenant can move in without putting down a big chunk of change for a deposit and the company guarantees it for s small monthly fee paid by the tenant. That’s a nice little perk with no cost to landlord. Although since I deal with mostly class c properties I’d probably only offer it to tenants after a year of good payment. If you are in a better area those are programs to consider I hear they are getting very popular in NYC.

@Thuy Pham-Satrappe I always do. And I go with stainless steel too even in lower end flips because it’s really not that much more expensive for the package. It’s all in my rehab budget. Most of my buyers are first time home owners and want the process to be as turnkey as possible. They just want to move their stuff in and live their life. You want to give the buyers the best vision of what their life will look like when they move in. A property just looks incomplete without the appliances in there.