All Forum Posts by: Christopher Morris

I finally have my first accepted offer in Bayonne NJ. Its a duplex property and I am looking to improve each unit to maximize my rent roll. I was planning on adding vinyl floors to both units and having a painter come in. I think lighting plays a large part in it as well, but does anyone have some advice for increasing rent roll for duplexes?

Thank you!

0 Votes

Jersey City, New Jersey

Hello BP!

I am currently living in the NJ area and just put my first two offers in for duplex properties. It's been an exciting step so far, but I want to make sure that I am as prepared as possible for what's to come.

Does anyone know of any real estate conferences in the tri-state area? Looking to connect with more real estate investors.

Any help would be appreciated!

0 Votes

Jersey City, New Jersey

I'm looking into buying my first investment property in the Hudson / Essex county area in NJ. I spoke to my accountant and he advised that I open up an LLC to protect my assets. It seems a lot of investors (especially early on) don't have LLC's.

Is it necessary at this stage to open up an LLC?

0 Votes

Jersey City, New Jersey

Quote from @Christopher Mooney:

Quote from @Christopher Morris:

Hello BP, I have been reading up and listening to podcasts on house hacking especially in NJ (Jersey City, Montclair, Bloomfield). As I'm looking for a house hack, I'd really love to live in a decent area (some in Jersey City can be iffy). Has anyone had recent success stories in 2023?

As home prices in NJ are very high, it makes the decision to go FHA VS live-in Conventional hard for me. I could put a down payment for a conventional (20-25%) 550k duplex, but I feel it could hurt my chances of buying as many duplexes in a 5 year period (for example) if I go conventional VS an FHA at 3.5%.

Any help would be appreciated!

It's tough out there to make numbers work! I've been considering house hacking in NJ. I live in a very desirably town in upstate NY, refinanced at a super low rate, so will keep the house as a rental. But I work in NYC and my WFH days are coming to a close. So I too am faced with this predicament.

Are you commuting into NYC? Or would you be open to other areas not mentioned that may be more affordable?

Hey Christopher,

I do not go into the city. So I am not tied to a specific area. Just looking for the best duplexes / house hacking opps.

0 Votes

Jersey City, New Jersey

Thank you!

0 Votes

Jersey City, New Jersey

Hello BP,

I hear a lot about "creating a system" so you can follow a template to go about finding your deals, and bringing them to life. I haven't brought in my first deal yet so it's hard for me to come up with this system. Does anyone have any suggestions on how to go about something like this? I will most likely house-hacking my first investment property in the NJ area. Seems like duplex homes would be in the 600-900k range.

0 Votes

Jersey City, New Jersey

Quote from @Jonathan Morav:

Hi everyone,

Time to hold my nose and dive into the water. I have been interested in investing in real estate for a few years. I have done a lot of reading, research, watched videos, and followed exciting people engaged in the space across social media -- but as we all know, there is no better way to learn than to DO.

So...I am looking for a mentor who will help guide my early decision-making and hopefully make my initial foray into real estate investing a little more educated.

I am relatively agnostic to the strategy but am biased toward finding investments toward a more long-term view of building wealth and income. I am based in Hoboken, NJ, and am open to out-of-state investing and investment opportunities closer to where I live.

If you are an elder statesman with a demonstrable record of success in real estate investing and looking to mentor a newbie hungry to learn and execute, please feel free to reach out, and I would love to set up some time to talk.

All the best,

Jonathan

Hey Jonathan, I am in the same boat. We should start a meet up (or virtual)! Seems there is a lot of people in the Hoboken area who want / are already investors but I haven't heard of any local meet ups.

0 Votes

Jersey City, New Jersey

Any help would be appreciated!

1 Vote

Jersey City, New Jersey

All Forum Posts by: Christopher Morris

Christopher Morris has started 23 posts and replied 68 times.

Post: Best Tips for Increased Rent

Post: Real Estate Conferences for Newbies

Post: LLC or Not?

Post: House Hacking in NJ

Post: Creating a System

Post: Creating a System

Post: New to real estate investing - seeking advice and mentorship

Post: House Hacking in NJ