All Forum Posts by: Chris Martino

Hi @Jason Timmerman, I am in the central jersey area and am currently searching for new properties. I would love to connect and see what types of properties you are wholesaling. 

Hi @Julie Verardi, sorry for the delayed response.  There is definitely opportunity for summer rentals which have higher per month rents but the year round tenant market is fairly strong in the area. Since Asbury is more than just a typical beach town with the amount of restaurants, events, and large music scene it attracts a large amount of year round interest. Two factors to definitely keep in mind which were already expressed in this chain is the schools are terrible and the job market is not as strong as areas in North Jersey. 

@Mary Quinones, have you had success finding deals in the South West area so far? I have been looking into some specific blocks and wanted to see if you were targeting a specific area.

Hi @Julie Verardi,I have one buy and hold property in Asbury Park which I purchased in July 2015 which is closer to Deal Lake. In the past few years the area has brought a lot more investors since the influx of new restaurants and infrastructure of the city. You can still find properties South of Asbury Ave and West of the train tracks but the area is a bit rough with a lot of section 8 rentals. There are some plans for developing that area but it may be a few years before that area becomes developed. 

Hi @Nancy Lugo, there is a ton of information on this site and some great guides under the education tab. The podcast is also great since you get to hear from experienced investors. Use the alert option on the site which enables you to put in keywords. You can put in the names of cities you are interested in and get alerts every time they are mentioned. Good Luck!

I have one studio apartment which I purchased about 2 years ago in a more expensive area. The property cash flows well and has worked out so far. I do agree with @Haseeb Awan when he said there is little to no value add since you are limited with possibilities of what you can change. When looking at apartments you really have to do your research on the reserve funds, past special assessments, and whether or not there are limits on the % of rentals allowed in the building. If the cash flow is there and you do all of your due diligence it can be an opportunity. 

Hi @Account Closed,

This is a great post, you really included a lot of information here. I am located in Central Jersey and am fairly new to REI, currently have one buy & hold property. I have been searching for my second property, preferably a multifamily home and have been exploring the South Jersey market. It would be great to connect and speak about the market when you have some time. Speak to you soon.

-Chris

I have been interested in the heights for a few months now and the area has become very competitive. A lot of the good properties have been getting scooped up quickly. I recently put a bid in on a SFH that had 9 offers on the home in 4 days. It has become tough to make the numbers work up there. I see the next area of JC to become popular is the Bergen Lafayette area but it still has some rough areas.

I'm looking mostly in the North Jersey area if anyone is looking to partner up on a deal. 

Thanks so much for the info @Deanna McCormick and @Jeff Copeland.

Hello Everyone, 

My Tenant in an apartment in NJ is coming up on the end of her lease and she would like to renew. I have seen a bunch of renewal forms online and just wanted to see if these were legit or if I should have a lawyer draft something up. The first lease was generated through the realtor since they originally placed the tenant. 

Thanks, 

 Chris

Thanks everyone for the advice and warm welcome!