All Forum Posts by: David Czech

Hey Ashley, 

Also in Central Jersey and have been investing for a number of years now. For starters, are you sure that you would be able get a 5% rate as a first time home buyer? Not 100% sure about that but double check. 

Few things to consider: It's a tough market now with interest rates, especially here. Any MFH you buy for around the 500-700 range in Central Jersey in a better town will most likely require a lot of work, so you have to take that into consideration. Most likely won't be breaking even. 

Even if you do fix something up, you can't force appreciation to the degree that we've seen in the past 2-3 years. You have to be willing to play the long game and overpay with the intent that eventually after renovations you will take maximum market rent and turn a profit. A lot of this is dependent on where rates go in the next 6-12 months. 

As far as your SFH strategy goes, not sure what the job market is like in South Jersey, but I know in Central Jersey there are a lot of NY commuters, so renting will always be easier. Try to look for deals, play the long game, but if the number's don't add up don't feel compelled to do anything now because you'll just feel maximum pain a year out after purchasing.

The host is a family member and there won’t be any payment involved. But would it be fine if I Iabeled myself as the listing owner and made the other person the host? 

Hey Everyone. So I'm in the process of creating an AirBNB listing but would like to make someone else the host so that they would serve as the primary contact. I would prefer to be listed as the emergency contact in case the primary host cannot be reached. However, are there tax implications to this kind of arrangement? Would AirBNB still recognize me as the property owner and the one collecting the payments once they generate tax documents? Any advice here would be appreciated. 

Is anyone concerned about eventually being able to sell their multi-family properties? I don't know if its because I'm on the younger side but I feel that younger families are looking for that perfect single family home and not necessarily looking to house hack. Even appealing to investors is hit or miss dependent on the buyer. Even if its a good property, I'm concerned that price drops will be required given the niche appeal of such a property. I'm not looking to sell just thinking out loud. I guess the rates and current climate have me thinking. 

Can someone advise on the process of adding parents on a title to a house after time of purchase? If I have a property and would like to put parents name on it, in the event of something happening to me, how does that work? Would that make them responsible for mortgage as well if I can't continue making payments? Any help would be appreciated. 

A tub in my unit has had paint chipping for the last year. I have tried using the paint sealer that's available in Home Depot, but it only seems to last around 8 months before it start chipping away again. The chipping isn't terrible, but it's noticeable. I just feel as if its going to get worse over time. 

I've heard that you can have a new tub cover measured and installed that goes over the existing tub. Is that a viable option and is that expensive? How does that compare to the spray on sealer that is professionally done? I have tiling around the tub and not ready to do a complete demo. Thanks in advance! 

You can apply on the website, but there aren't any guarantees. Just describe the damage and submit some photos and have to wait. 

Lasting consequence will be that we will turn into a nation of renters, with only the upper middle class being able to afford real estate. We are already seeing that. If you live and work in the NY metro area you are easily paying 1800- 2000 / month for rent, so does it really matter if you make 80-100K? Does that really give you the flexibility to go and invest if you wanted to? 

Add to that all this money printing which will de-value the dollar and drive up cost of goods, which will make everything more expensive. The pandemic has torn into the fabric of socio-economics in this country and not for the better. 

Also, let’s relax about the talks about student loan forgiveness. That would be great but I don’t think it would be a total forgiveness. You would also need a savers mindset that would allow purchasing homes in more expensive markets. It doesn’t mean we’d be handing out mortgages like in ‘08. 

I agree with post above, we are in a bit of a bubble, but the correction won't be major. This will leave a lot of the current valuations in place. Government has propped up the market with unlimited money printing, which will weaken the dollar and we already see that the middle class is getting priced out of purchasing real estate. This will have lasting consequences. 

I can pretty much guarantee she wouldn’t be thrilled if prices shot up 200% over 2019 market value........