All Forum Posts by: Anthony Marin

@Simon Obas

We don’t have income requirements for section 8 applicants because every situation is different, what we always do that some landlords/managers don’t is have them fill out the application and pay the fee so we can run background, credit and eviction history. In the beginning we didn’t because they are supposed to be vetted by Sec 8 but after a few bad apples we learned our lesson. Everyone fills out applications and our section 8 experiences are much better.

If your getting a lot of applicants I would also suggest not to rent to someone (initially) who just got their voucher. Between both of your inexperience the process will take months and you’ll be losing money. Once you guys know what you’re doing you can coach the newbies through the process.

Last thing is the process takes at least 30-60 days in our market (Newark NJ) so be ready to have a vacant apartment for a while. 30-60 days is best case scenario, we’ve had applicants that have taken 4-5 months. I hope this helps.

@Anthony Then

I think you should own both and my current allocation is 80% RE and 20% stocks but I wouldn’t be upset if someone did it the other way but I do believe you should have exposure to both.

My rationale for real estate is pretty simple. I love the tax benefits and leverage you can get with RE. At a very basic level, I can acquire 100% of a RE asset and reap 100% of the benefits and only pay anywhere from 3.5% -20% of the assets value. To buy stocks you have to pay the full asset price.

@Bonnie Rhodes

I bought my first 3 family to live in at 29 but started investing seriously at 33. The first one at 29 was the spring board to go all in at 33. FHA loan with 2 tenants paying your mortgage is an amazing thing.

@Hector Andino

Where is your property located and what are the specifics?  i own a property management company and we can help you rent your apartment.  We do things a little different than typical brokers.

@Angelique Diaz @Michael G.@Aiman Zul

Newark NJ is a great market to invest long term.  I live in the Ironbound section because I bought my 1st multi family in 2010 to live in.  I started investing seriously in 2014 when I bought a 3 family close to downtown Newark and I have done over 20 deals over the past 6 years.  I don't say that to brag but to say I've done a lot of deals in Newark and I truly believe the city is better positioned now than it was years ago.  With that said prices are inflated just like other hot markets but if you're patient and put capital to work intelligently you will be rewarded.  Investing in the Ironbound (East), North and Central parts of Newark which are the better areas would take a smaller hit during a downturn and bounce back quicker.  I hope that is helpful to anyone looking to invest in Newark and if anyone feels differently I am interested to hear.