All Forum Posts by: Daniel Marques

@Vanessa Ivonne Hernandez Hi Vanessa, nice to meet you! I'm out in Union county, and also eager to start my RE journey. 

Ideally, looking to house-hack in NJ and be local, but have been considering investing in other markets like Ohio/Philly/Texas. 

Would love to connect and get some of those interview questions too if you dont mind :)

Awesome thanks Alan! Pleasure meeting you and appreciate the initial insights into your area. I'll be sure to reach out   

From NJ area (near Newark) and have been analyzing areas in northeast philly, specifically 2-fams/duplexes for my 1st investment property. Goes w/o saying the NJ area is absurdly overpriced to invest or house-hack, even though I’d prefer to. Property taxes are absurdly high, and you don’t cash flow let alone break unless you’re illegally renting attic, basement or both.

In underwriting some of these deals in the Philly area, I've seen the following:

1) Many duplexes have all utilities paid by tenant. Is this common for the area?

2) Property taxes sub-$4,000-5,000

3) CoC % in 7-9% range if I put 20% down

I would love and appreciate any mentorship from ppl in the area, if I should pull trigger and find out if investing in some of these areas are worth it?

The downside is that I live 1-1.5hr away from what would be a 1st investment property. I met with a realtor in the philly area who’d be willing to give me his network [handyman, contractors, electricians, etc] as we hit it off with parents being from same country. Idk if some of these deals are too good to be true b/c it’s literally impossible to find cash flowing properties in NJ unless you do what i mentioned above and/or put 30-40% down (which is a poor use of cash).

Thanks for any help

From NJ area (near Newark) and have been analyzing areas in northeast philly, specifically 2-fams/duplexes for my 1st investment property. Goes w/o saying the NJ area is absurdly overpriced to invest or house-hack, even though I’d prefer to. Property taxes are absurdly high, and you don’t cash flow let alone break unless you’re illegally renting attic, basement or both.

In underwriting some of these deals in the Philly area, I've seen the following: 

1) Many duplexes have all utilities paid by tenant. Is this common for the area? 

2) Property taxes sub-$4,000-5,000

3) CoC % in 7-9% range if I put 20% down

I would love and appreciate any mentorship from ppl in the area, if I should pull trigger and find out if investing in some of these areas are worth it?

The downside is that I live 1-1.5hr away from what would be a 1st investment property. I met with a realtor in the philly area who’d be willing to give me his network [handyman, contractors, electricians, etc] as we hit it off with parents being from same country. Idk if some of these deals are too good to be true b/c it’s literally impossible to find cash flowing properties in NJ unless you do what i mentioned above and/or put 30-40% down (which is a poor use of cash).

Thanks for any help