All Forum Posts by: David Smith

Hey bigger pockets family ! I am in the process of reading the new bigger pockets "How to Invest in Real Estate" book. My goal right now is to pay off my C/C debt ($6,400) with an average $200 weekly income. I was considering real estate to replace that income someday.

Anyway, I was debating whether or not to go after my real estate license to add to my income . I was wondering if any experienced investors or agents can shoot me any pros vs cons about having a license specifically in our state for a beginner. I have been told to get one, but I have also been told I don't really need one.

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How does it make money? Cost of machine, repairs, water, gas, electricty is a lot.

It increases property value? It sure helps the tenants. But bet it wonot help a lot for the rent increase.

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You can post the details here.

Originally posted by @Ryan H.:

If anyone is looking for a flip deal in Bergen County I just posted a great one in the Marketplace for a 3/2 in Midland Park, NJ 07432. I actually own the property (i.e., this is not a "wholesale" where I am trying to assign a purchase contract). I was going to do the rehab myself, but my personal circumstances recently changed. There is good profit in this deal for a north jersey rehabber.

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Refuse the payment

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"All you need to do is invest a recognized gain in a Qualified Opportunity Fund and elect to defer the tax on that gain."

Donot know how it works. Similar to 1031! You can use the gain from stocks to invest in that zone, and

defer the tax.

I do have a rental property in that zone.

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If someone has a rental property or buy a new one in that zone ; what will happen ?

Originally posted by @Patrick Ma:

Looks like both West New York and Union City have areas under the Qualified Opportunity Zone. I assume this will only accelerate the velocity of investments and revitalization in these areas? Anyone have any insight or stats?

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what things top agents can do, comparing to other agents?

Unlike single family, not too mch showing/open houses for selling miltifamily.

Average is 4-5% fee?

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You use an LLC TO BUY IT ,right ?

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Often how much an unit in a decent area ? $50k a unit?

How does the local market compare to NJ/NY?

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Comparing to NY and other higher price markets, NJ is a good place to invest for cashflow. Be careful with quality of tenants.

Originally posted by @Account Closed:

with high taxes and most places overprice, numbers don't work for cash flowing. Would you invest out of state or keep looking?

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All Forum Posts by: David Smith

David Smith has started 140 posts and replied 539 times.

Post: Pros & Cons of NJ Real Estate License

Post: pros and cons of putting coined washer/dryer for tenants

Post: Anyone Looking for a Flip Deal in Bergen County?

Post: NJ Lease Renewal Question

Post: Union city/Weehawken vs. Jersey City areas

Post: Union city/Weehawken vs. Jersey City areas

Post: List of top Hudson County multifamily agents?

Post: What liabilities get transferred at a Sheriff Sale?

Post: How is Wilmington multi-family returns ?

Post: NJ market is hard finding a cash flow place, anyone got lucky?