All Forum Posts by: Andrew Elkins

Good luck! 

Competitive market in JC right now. Make sure your POF is ready when you make offers.

Welcome to the community. 

"Measure twice, cut once"

By that I mean, do you due diligence.  There is no substitute for doing you own homework.  No matter what representations others provide, ask for original documents, tax return schedules, inspect yourself.  You don't need to over analyze, but certainly, don't under analyze.  You'll soon sort it out; just keep practicing by making offers.

If you need any assistance, please feel free to reach out.

Good luck!

I'm a realtor and do business in Greenville.  There's a lot of activity going on there now. There are approx 600 vacant properties in Greenville and it's a shame for the neighborhood and for the city. 

Of course, as we all know, getting vacant properties is one of the more difficult tasks for the investor/agent.  There are multiple reasons for this and there are multiple strategies for finding the owners.  

And, frequently, there are issues with the property, such as mortgage liens being greater than value or title issues.  With a ton of persistence, these are all solvable issues, but it's a pain in the butt. 

Google "finding owners of vacant properties" for good ideas on this. 

My advice on short sales is this: it's not rocket science, but takes persistence and diligent record keeping and follow up. Banks just toss files on a pile and frequently make mistakes. Keep digging, pushing and calling, calling, calling. Trust me, they won't call you. Additionally, be aware that a short sale requires a licensed real estate agent, per most banks protocols. The short sale must be marketed on the MLS in open competition to obtain the best price for the bank. At least, that's been my experience. Your mileage may vary...

Greenville is not for everyone, many investors shy away from there. However, I think the ROI on Greenville is probably the highest of any area in JC. You can get good rent rolls there if developed properly.

Money talks, bs walks.... I'd side with the HML.

It's the buyer's prerogative to choose title co. The HML is your master, because they hold the purse strings, so to speak. The bank should butt out of this discussion.

You seem very angry.  I don't check bp much, but I'll try my best to follow up. You make ad hominem assumptions and attacks & you don't know me. Best of luck to you in all your endeavors.

Greenville, Jersey City, NJ Development Opportunity

241 Martin Luther King Dr, Jersey City, NJ 07305

$99,900

KEY FEATURES
Lot Size: 4186 Square Feet
Property Type: Land

DESCRIPTION

46' x 91' vacant land on MLK Drive, right in the midst of a huge development boom in Greenville. This lot is in the MLK Drive Redevelopment Zone and thus qualifies for bonus zoning.

This information is from a conversation with the zoning office and is not a substitute for buyer's own due diligence. All information is represented as accurate as best possible, but not guaranteed. Broker is not a zoning attorney.

4,186 sq. ft = .096 acres. With zoning density of 65 residential units per acre, that gives developer 6 units residential allowance plus storefronts on ground floor. Height allowance = 45', which gives you 4 floors. 15' rear set back required, no side set backs required. Floor area to lot ratio = 4. Thus, developer has right to 13,984 sq. ft. gross living area (GLA). Plus basement for utilities. That will give you huge apartments with 1,748 sq. ft/ea GLA each. Great for large families, right?

There is a community with large families which is moving into this area of Greenville. This lot is going fast to the developer who is ready with Proof of Funds and best price. Contact broker TODAY!

This is not a substitute for legal or tax advice. Anyone contemplating the purchase of a real estate investment should seek the services of competent legal and tax advisers.



Contact info:
Andrew Elkins
Keller Williams City Life Realty - 201-659-8600
973-449-6180 

<p><b><u>Contact info:</u></b><br><b>Andrew Elkins | Keller Williams City Life Realty - 201-659-8600 | 973-449-6180 </b></p><h1 >Greenville, Jersey City, NJ Development Opportunity</h1><h2>241 Martin Luther King Dr, Jersey City, NJ 07305</h2><h2>$99,900 </h2><p><b><big><u>KEY FEATURES</u></big></b><br><b>Lot Size: </b> 4186 Square Feet<br><b>Property Type: </b> Land<br><br><b><u>DESCRIPTION</u></b><hr>46' x 91' vacant land on MLK Drive, right in the midst of a huge development boom in Greenville. This lot is in the MLK Drive Redevelopment Zone and thus qualifies for bonus zoning.<br />

<br />

This information is from a conversation with the zoning office and is not a substitute for buyer's own due diligence. All information is represented as accurate as best possible, but not guaranteed. Broker is not a zoning attorney.<br />

<br />

4,186 sq. ft = .096 acres. With zoning density of 65 residential units per acre, that gives developer 6 units residential allowance plus storefronts on ground floor. Height allowance = 45', which gives you 4 floors. 15' rear set back required, no side set backs required. Floor area to lot ratio = 4. Thus, developer has right to 13,984 sq. ft. gross living area (GLA). Plus basement for utilities. That will give you huge apartments with 1,748 sq. ft/ea GLA each. Great for large families, right? <br />

<br />

There is a community with large families which is moving into this area of Greenville. This lot is going fast to the developer who is ready with Proof of Funds and best price. Contact broker TODAY!<br />

<br />

This is not a substitute for legal or tax advice. Anyone contemplating the purchase of a real estate investment should seek the services of competent legal and tax advisers.<br><br><br><br><b><u>Contact info: </u></b><br><b>Andrew Elkins <br>Keller Williams City Life Realty - 201-659-8600 <br>973-449-6180 <br></b>

102 Summit Avenue, in the historic Bergen Hill neighborhood of Jersey City is perched high on the hill and from the third floor roof deck, you can see Manhattan. This turn of the century (that would be 19th century) Victorian has seen better days, but with your vision and your pocketbook, you can turn it back or into what you want it to be. It is subject to third party approval, but we've got the fast track on this. Only visionaries with actual funds are invited to see this diamond in the rough. It is almost entirely gutted. So have an imagination. I should have the plans from 2007 shortly. It is currently on tax rolls as a two family, but you can turn it back into a one family if you choose.

No "transactional funding" allowed - the banks don't go for that. You have to hold short sales for at least 90 days. Contact broker, Andrew Elkins 973-449-6180.

171 Jewett has been completely gutted (fairly cleanly!) down to the studs. There is NOTHING inside. No plumbing, no electrical, no furnace. NOTHING. NADA. ZILCH. It's currently on the tax rolls as a single family, but you, my dear friend and visionary builder/designer/rehabber, could turn this beauty in the beautiful and upcoming Lincoln Park neighborhood into, um, a very nice income producing two family, perhaps? Why not? Have your architect prepare the plans, bring them down to the very nice folks at the JC Building Department, have them stamped APPROVED and voila! Ka-Ching! The seller has all his docs in order for the short sale. All you do is have to show up with a decent offer and valid proof of funds. None of this funny "transactional funding" bs. The banks don't go for that. You have to hold short sales for at least 90 days. Money in the bank (US banks, only, please!) or a proper, well-documented -pre-approval. My suggestion? Use Nancy DeNicola - 973-452-5778 or her partner Mike Sudol 862-268-5588 at Mortgage Masters. They are really amazing!

Call Realtor Andrew Elkins, 973-449-6180 of Keller Williams to get a look and make an offer.

Hello real estate folk.  I am wholesaling 4 properties in Jersey City which are in foreclosure and need to be short sold.  The seller is a contractor who is going through BK and the BK attorney is a friend of mine. 3 properties are in gut rehab. 4th property is owner occupied and in excellent condition.  Everybody is cooperative. Attorney is a bit verbose and annoying, but that comes with the territory. Call me 973-449-6180 if you have expertise in negotiating with banks and want to get involved with this. Thank you.  I'd prefer if you call me during business hours; I have small children.