All Forum Posts by: David Wrenn

@Peter T. is absolutely right.

@Juan Delacruz Essex County has very high taxes.  Check out the Clifton area in Passaic County, specifically the Botany Village or Athenia.  It's on rise quickly, properties are within your budget and there's this project that will require massive housing needs for the general area.  The project is called On3 https://on3nj.com/.

It depends on the theme of the event, but if you search Meetup.com you should be able to find them there.  If you can't find them I'll look up the next event for you.

There's two great meetups with plenty of money guys and wholesalers who are very familiar with Newark in the area who can help out.  Glen Galucci runs one of them and Nick Tang runs the other group, both are worth attending.

I'm working on a large project(264 units) in the downtown/business district on Broad Street.  I really like this area's promise due in part to the excellent transportation system, job accessibility, new retailers and the numerous schools.  

Another project I worked on in the University Heights section is another area you may want to consider. We sold off our retail component of that PUD to Goldman, however the turnover and vacancy rate can be very high in that area due to the number of student residents.

Finding section 8 tenants is going to be easy.

@Oleg Shalumov. Congrats! I’m from Cincy and went to tOSU and now live in Northern NJ, small world. I was in Cincy last week and saw bandit signs everywhere. The UC market should be good to you and you could potentially Air B&B units that are only occupied for the school year that is if you allow non full year lease terms.

@S E Huffaker I’m definitely going into the solar repair business lol. Have they even taken that into account or the fact that this rapid influx of demand will drive likely drive up solar panel prices and maintenance prices? How are large scale mixed use developments going to operate?

It’s unfortunate that any American is forced to do something like have health insurance(even though it may be smart) solar power etc.

If they’re going to enforce a mandated extra expense there should be tax credits etc for the builder as they are bearing the burden of the upfront costs while the homeowner reaps the backend savings. It’s just going to slow building and home sales slightly. However it’s California home of the Prius so who knows.

I want to build a house off the grid, but it’s MY decision to make.

How do you pay your Bird Dogs? I have friends who are constantly on the road and in Northern NJ I often take Uber or Lyft etc. They all seem like they could be leveraged for your business just not sure how to pay them?

@Lashana Corbett I feel similarly to your option on the rat race and lack of control over.... well your life. I went through two hostile work environments, it is what it is and is in the past now. I had to take another job, I definitely have mixed feelings about it however the consistent income when you have kids helps with sleeping at night. I’m actually rereading(well listening) Think and Grow Rich for my second time(it’s been like 10 years), it’s even better the second time around I have to say. I actually asked my last Uber driver to bird dog for me. That’s going to be my next thread question. Do you pay them on a sliding scale or flat rate?

@Aaron Hunt You’re right and fortunately I just took a new position yesterday. It’s been a humbling experience the past few months for sure and I’ve had to adjust my lifestyle greatly but for the better and I’m going to maintain the new personal budget. Once your personal expenses are covered what percentage of the money left over would you save and the percentage you invest into your business?

@Caleb Heimsoth Appreciate your honesty I actually just get a job yesterday however I’m not starting until April. I feel like when you hit rock bottom it makes you hungrier and the only place to go is up.