All Forum Posts by: David Da Silva

Hello @Guangli H.

I'm interested in meeting up as well. I'm in North Bergen currently helping a family member with a rehab. I would love to pick your brain on what you have in mind as far as buy and hold investments in NJ. 

I'm going for my real estate license as well because I also can agree with you on the limited knowledge of some real estate agents. The MLS access is a great plus too!

@Nikolaos Makridakis

Agreed with the others. I'm in a North Bergen duplex now, but Bergen county Multi Fams are incredibly overpriced unless they are in need of serious work. I'm sure you will find something if you keep looking but also keep an eye on the taxes as the rates in Bergen are in the sky. Also worth mentioning, some areas in Bergen are very strict with occupancy laws so be careful with what you may do in relation to house hacking.

@Mitchell Robert Classen

Congrats on the flip! The house looks great.

What do you feel was the hardest part of the whole process?

Late to the party as well, but I would love to meet up with you guys sometime. Let me know if you have anything planned for the future.

As others stated, the 2% rule is harder to reach here in NJ because of high property taxes and high property values. With that said, rent here is typically higher than most places in the country. 

Rent closer to the city (Northern NJ) usually will go from approx $2k-$4k+ depending on the area for a 2/1-3/2. If you can concentrate on multi units (The best way to go IMO) the numbers add up quickly in your favor and hitting the 2% can become possible. Look for emerging markets close to highways and train systems. Anything close to NYC is a terrific choice. NJ is pricey, but the appreciation of property/rent is also solid for the most part.

@Allan Szlafrok

Great info Allan. 

I think both areas are terrific locations for investment and probably the fastest growing cities right now in NJ. Jersey City is overall a bit more pricey, but stable for the most part. Newark has more room to grow, but you have to be careful where you buy.

Interested in meeting with wholesalers in the area as well, I'm currently trying to network with as many people as possible. I'll look into JDL Ventures.

Correct. J Scott is a brilliant!

And as far as the meetup, I'm already on it -I scheduled it last week, once I found out. Tell me your going as well? Can't wait!

@Odie Ayaga

Thanks for the info Odie!

I'll definitely check out that podcast, I'm on #85 so far, so I'm sure I'll get to that one very soon. I definitely love the resources BP has and I'm constantly enriching my understanding because of all the great advice everyone here offers.

@Alek Liskov

Great advice, I'll keep that in mind. I would love to hear more about the property you have purchased so far, I added you to my contacts. Let's definitely meet sometime. 

@Jose Arismendi

Thanks Jose.

Yea I'm a big fan of buy and hold as a starter. Is there any area in particular you're interested in?