All Forum Posts by: Anthony Marin

@Jennifer Lee

Hi Jennifer, with your budget of $800K you can buy a multi almost anywhere in NJ.  Since I work and invest in Essex, Union and Hudson counties, I will give you the best places in my backyard I think you should invest with that budget.  You can buy a large recently built 3 family house in the Ironbound section (best area) of Newark for about $700-$800K.  Those apartments are renting for $2300-$2600 per month.  Close to NYC, great bars, coffee shops and restaurants and a good base of quality tenants.  I would also suggest Elizabeth as @Alexander Szikla said along with Bayonne and Belleville.  Good Luck!!

@King Dada

Pick a market. Starting in your local market is a good idea because you know it but if the numbers don't make sense find another market. Once you find your market, start calling agents and begin looking at properties to get an idea of pricing and property conditions. This will sound weird coming from a broker BUT when you are going into a new market you should contact all the listing agents directly and let them show you the property. You want to meet as many agents as possible. One of those agents will go above and beyond and that's the agent you work with. While your looking at properties you should get your financing lined up so once you find that property you want to put an offer on your ready with a pre-approval or POF. Good luck

@Suraj Merchant

Finding a reputable/reliable contractor is probably the toughest part of real estate investing.  Even when you find one, trying to hold onto them and keep them is tough because its only a matter of time before they take on too much work.  We've finally gotten to a point where we have a combination of handymen and contractors we can reach out to depending on the size of the job.  I"m an investor in Newark myself and like to help new investors.  DM me and let me know what your looking for and I can try to connect you with someone or a company to help you out.  Good luck in your investing.

Finding investor friendly realtors is tough, when I started investing it was rough but when I found one I tried to hold on to them but they are also very busy. That's the reason I got my realtors license a couple years back so I can get access to MLS. Then I got my brokers license and opened up a brokerage that only has investor friendly agents. The most important thing you should be doing now is going to look at properties and figure out what locations you want to invest in. Newark has very good and bad locations for investing. Just start calling agents and touring properties. If you have any specific questions please feel free to reach out to me.

@Mor Haffman

Hi Mor, I live in Newark, own a real estate company and have been buying multifamily properties there for over 10 years.  Newark is really block by block, what I mean by that is you can be in one of the best areas but be on a bad block and vice versa.  With that said here are the best locations I think to invest in.  The best part of Newark is the Ironbound section (East Ward) but the prices there reflect that but you get the most rent and best tenants.  Downtown (Central Ward) is a good area to invest also but there aren't many residential properties.  North Newark is the best bang for your buck.  Properties are still reasonably priced and the tenant profile there is good.  South and the West parts of Newark are the rougher parts of town and I wouldn't recommend you invest there unless you really know the area.  Hope that helps and good luck in your investing.

@Isaac El

It's scary to think about how long this backlog will take to get through and when we will get through this.  That's why I really believe its important to take care of your tenants because the tenants we've had for over a year are working with us and we are working with them.  It's the tenants we inherited and the ones we just placed that are tough to deal with.  They don't realize we are not out to hurt them and are in this together.  NYC is rough, good luck out there.

@Deisy P.

There's nothing else to say that hasn't been said already except that, YOU GOT THIS!!!  This real estate investing game tests us all to make sure we have what it takes.  I agree that woman have it harder but that doesn't mean it can't be done because I personally know many successful female real estate investors.  If they can do it, YOU CAN DO IT!!

@Melanie Stephens

My mistake was about getting too comfortable and thinking I was better than I really was.  After doing 3 great deals to start my career I bought 2 properties where the numbers were tight.  Things didn't work out as well and it took me about a year to get out of that hole.  Stay prudent on your numbers as your confidence gets higher with every successful deal.

@Isaac El

I'm in Newark Nj not to far from you in NY and both of our Governors are doing a lot of the same things.  I think the moratorium will be extended 1 more month through January and II'm hoping it ends at that point.  With that said we will be able to get in front of a Judge sometime in April.  A lot of landlords really hurting right now.

@Greg Moore

I am slowly moving funds to BTC.  I think the right allocation is 1% of your net worth should be in Bitcoin.  That's not my opinion but I stole that from Chamath Palihapitiya who is easily one of the most successful investors of the past 10-15 years.  I advocate to diversify but the vast majority of my net worth is in real estate.  Here is my allocation - 80% real estate, 15% equities, 4% bonds and 1% Bitcoin.