All Forum Posts by: Chris Jones

@Scott Wolf

At the end ofcourse, I should have clarified. Why rock the boat now if you have that deal in place.

@Web Annacius

See if you can get the seller to include the rent difference between market value and what they are paying now as part of the deal.

Then inform the tenants you will be raising the rates at the end of their lease term.

@Vaughn Smith

Interesting was just looking at that property online the other day and it looked promising. Seems like some one started to rehab and ran out of money or there is some underlying big money problem that is not being advertised.

@Salvatore Lentini

Living in an expensive market NJ/NYC.

Gaining more confidence in evaluating deals and researching markets.

Researching more out of state investing. Currently reading Long Distance Real-Estate investing.

I think overall the only thing holding me back is structuring a solid plan. I would like to do out of state income properties and do flips in NJ. I evaluated whether I should get a real estate license or take home inspection training. Only because you hear the horror stories of bad contractors or agents and having the knowledge myself would help me be a better overall manager.

Thanks everyone. Looking at the BRRRR strategy right now and practicing analyzing deals to get a better feel.
I plan on attending local real estate events to network and get my feet wet.  
I eventually want to move into out of state investing but will start first in NJ where I know the area.  NJ is tough but not impossible. 

Was down there for months after the Hurricane assisting with electric power restoration.  I think there is definitely opportunity but San Juan can be expensive.  Also check out Rincon.  Beautiful area very "gringo" friendly if you will.  There is some high crime areas and the police do not really do much about it.

My significant other is actually from PR moved after the Hurricane so I do have some inside knowledge.  Family is still there we visit once a year for about 2 weeks at a time. 

Hello all.

I joined a while back with great hopes and aspirations but never pulled the trigger. I never actually stopped researching and educating myself but never became fully committed.  I have since matured and opened my eyes to opportunities I missed. I also became a home owner 2 years ago and that experience gave me valuable insight.(importance of a good team!)

I have a close friend who recently got started in Trenton NJ with rental properties who motivated me to jump back in.  He is being mentored by a reputable member on this board and has shared his experience with me.  I am still not sold that Trenton is the place but research and education is the name of the game.  

Any how I am committed now and in a much better financial state and just overall in a more serious state of mind.  I guess age will do that to a person.

I am looking in NJ(tough place, high taxes) and also a recent trip to Charlotte NC kind of sparked my interest there as well.  Rentals will be my primary focus. I will be active on the boards and look foward to connecting with everyone again. 

@Lior Solomon

Do you have a break down of your expenses? That seems to be a low estimate. I could see 5-6% cap rate but not 7-8%. That is also assuming rents in the $1500 per month range for 2 units.

I'm not saying your wrong just interested in your breakdown.

@Lior Solomon thank you for you input. I have looked around Bloomfield and Clifton as those are two areas I am familiar with. I need to do more research on the other towns.

@David Thomas No I am not looking for a turnkey. I would not expect that to be a realistic approach. Its possible I need more experience and education on evaluating a deal. As well as repairs and upgrades I can handle myself vs a contractor.

@Lamont H. thanks for the reply. I finally got that to work.

Yes I have realized this to be the case, unless you were in the buy and hold market 8 years ago you seem to be out of options in this area.

Although there may still be some

opportunities in Monmouth and Ocean county.