All Forum Posts by: Eli Konig

Better late then never!!

A person in your age has the opportunity of making wise decisions.

Any specifics on the south side south shore areas?

What are the major struggles and the pitfalls avoid in the multi family market there?

Hi Moses, there is no way to register A property with section 8 in Trenton, you just list your property (zillow or any other MLS) once you have a section 8 tenant they will come out to inspect and pass it.

In addition, now due to covid-19 section 8 doesn't do any inspections they rely in total on the city co inspection.

But the first thing you need is A tenant in the section 8 system, then you can start the process, just call section 8 main office.

Tip number 1.

The closer to home:

The more knowledge you have in the area, 

The less pitfalls you can potentially have, 

The more contacts you have,

The more control you have.

Tip number 2.

Try something that is doable. don't flush all your funds and find yourself dry when closing costs are more then expected or when the first unexpected expense arises.

Before you close on A deal out of your state make sure you have A good Property Manager that is knowledgeable in the local market and responds quickly as if as you would of been there, you don't want to drive A few hours for A non flushing toilet, or to see an inspector etc.

Also I would recommend multi family vs Sfr when investing far from home, you just have less roofs, heaters... but everything bowls down to a good property manager locally.

David, I understand your situation, it depends a lot on the value of these Single Family properties, and also how much you own all together, there are some Private hard money lenders that are funding 30 year term loans but most of them require a minimum of about 150k value each property (try sharestate, ice cap group, accolend etc), if your loan can be 500k all together then try Corevest they are still funding.

Reviving this old thread about Chicago south shore, anyone more specific information, from my recent visit there I did somehow see what @Mark Ainley says about 79th St, but does someone have more inside depths in the area, specifically regarding closer to the shore or more far (near the Midway airport)?

Another tip, the case workers usually don't come in on Wednesday's, if you need help ask for the supervisor he will guide you to A case worker and path out the process for you.

geographic areas that are picking up in Trenton NJ:

Downtown: The city building area - not much properties for sale there.

Hiltonia: Home owner area, is quiet and the prices are much higher than in the entire city, it looks more like Ewing then like Trenton, mostly home owners not much rentals there.

Chambersburg: considered as A well growing area but prices are rising as the competition grows.

West end: You can get a better deal not paying that much, Riverside Ave (next to the Delaware river) is picking up between home owners.

North Trenton: such as Vine St, Race St (off MLK), or Poplar St Oak St (off N Clinton) are picking up as well.

From my experience about 90 percent are paying, it is always good to be a negotiator and be open or agreement arrangements specially in the era, as you understand section 8 checks dount bounce even in covid era.