All Forum Posts by: Al Y.

@Vaughn Smith careful with that. One side is the hospital is good, towards main st. The other side, not so much. Over in that area, it’s street by street. But overall that area is improving.

I own properties in Paterson, taxes are high, approx 4% of assessment. They also reassess annually and after every sale. Crime is rising. There are some good areas, specifically South Paterson, Lakeview and Totowa sections. But prices are way above where it should be, since lots of new entrants are using FHA to buy and tend to overpay.

@Nikki Closser

Great deal, to me the most important thing is you got it done. No talking about what it could have been etc

Also, good move on getting things fixed. I’m the same way... not in this to be a slumlord. Best of luck!

Does anyone have a Heloc on multi family investment property? Especially if RE is in an LLC? What banks do you know that are in that space?

I'm looking to cash out a 3 family property in NJ that I bought cash and remodeled. My main bank says after 1 year they can do 75% LTV based on appraisal. Under 1 year they do 75% of purchase price max... rates for LLC owned property in the low 4's for 39 yr fixed. What ate you guys seeing/doing out there?

thank you for the feedback, definitely staying our of Waterbury, especially being out of state. I think opportunities will come soon enough, and all the input from you guys is helping me narrow my focus.

@Filipe Pereira I like 3&4 for that reason. Easier to manage, keep full, and finance (Brrr, 30yr fixed rates). But to go out of state, I need higher ROI than what I can get in NJ so higher end doesn't appeal to me at this point, bec my goal is cash flow (appreciation is a welcome plus)

@Stephanie Jacobson would love to connect and discuss the opportunities. Thanks

@Mark H. Porter great site, thank you

@Gary Kline thanks for the tip