All Forum Posts by: Eric Beepat

Good insights on this thread!  Anyone have specific input on Burlington City, in Burlington County, NJ?  I have family in the area and saw a couple decent deals.  I also see some action taking place near the waterfront.

Digging up this old post.  Any owners in Union City receive a letter in the mail stating that 3-family buildings are now removed from this exemption?  

What John said is absolutely right for most of Hudson County.  Us individual small investors will probably not be able to get the greatest deal when we are up against some stiff competition with cash.  I am a new investor and new realtor.  I showed my first property in Union City this weekend, a six unit to hopeful first time investors.  Based on factors like rehab, cash flow, rent control, etc the deal didnt make sense.  However, the group of investors that are rehabbing the home next to it said they wanted to see it.  I explained the numbers and they were interested because they just needed to do something with all they cash they had.  I hope this isnt the norm.

@Joel Haas, Peter, @Odalis Herrera - If there is a meet-up...I am interested as well.

Sure, here you go...

https://www.meetup.com/Bigger-Pockets-Hudson-County-Real-Estate-Investors/?_cookie-check=Bn6dfkdmyghYKuyi

@Jibreel Hameed Nice reintroduction!  I am always looking to connect/partner with others...lets connect.

@Eric D. I PMed you as well.  I am fairly new to investing and have run into the same issues.  Maybe we can work on this a team.

Hey @Marta K.,

The rent control rules varies by city, but I believe Union City and North Bergen are both 4 family plus are rent controlled and 3 family and below are not.  Besides searching the various cities websites, do a search on biggerpockets, there are a couple posts on the topic. 

I've heard of the NJREIA meet up group, but never attended.  Thanks for the link.  I am definitely going to try to attend.  I've attended other meet-ups in the past.  There is a great meet-up that meets in Union City.

Thanks again,

Eric

By the way, I am a new realtor in the area.  Let me know if you need any help with anything.  I am totally wanting to work with investors and those that get it.

I am in Union City...close to N. Bergen.  I finally convinced my wife to get into a multi-fam...good luck.  Duplex and 3-fam is the way to go if you plan on living in it.  I believe 4 fam and over in the area are rent controlled.