All Forum Posts by: Hiral Lai

Hi, 

Do I have to RSVP or can I just show up? I need to confirm that I have someone to take care of my kiddos, but would love to attend. 

Thanks,

Hiral

Hi John,

I was doing a search on Northern NJ meetups and came across this. Are you having another one anytime soon? Would love to meet you and other fellow BP members that invest in Northern NJ.  Thanks!

Hiral

Thank you both! My stock is Restricted shares so they did already get taxed when they vested but i thought there would also be tax implications when i sold the shares. I think i should definitely discuss with a CPA though as you both suggest. 

Hi All, 

I am trying to figure out the best way to fund a potential deal. My company awarded me some stock a while ago which recently vested. I didn't want to get hit with major taxes if i sold it. Is there any way to avoid the tax associated with selling the stock to leverage for real estate investing. I am just getting started with investing and I know there are lots of loopholes but don't yet know them. I also am considering using some equity from my house either via a cash out refinance or a HELOC. Are there any tax implications i should be aware of if I went either of these routes?

Also if anyone knows any good articles, blogs, etc. that cover taxes in NJ and how to best maximize your returns despite the massive taxes, please send them my way. 

Finally, anyone know of any good tax advisors / accountants in the northern NJ area that specialize in real estate investing?

Thanks,

Hiral 

Thanks Jonathan!

@Dan Turkel...thanks for the contact information for Kenneth. When is the next meet up and how long does it meet for? I may have to wait till the following one as I recently gave birth, but am using the downtime of when my daughter naps to figure out how I can get started with real estate investing and do as much research as possible. I want to hit the ground running once I am fully recovered. ( :

@Jonathan Boyle...I don't have a specific market yet. That is part of what I was hoping to research and get an agent's take on. I am not interested in flipping, but instead want to buy and hold properties so that i can rent them out and generate continuous cash flow. Given NJ taxes, I haven't found any deals yet that have been even close to worthwhile. I was hoping to find properties that would meet the 1.5-2% rule, but for NJ, I haven't found anything yet that even meets the 1% rule. So this is why I was hoping to just talk to a few real estate agents that specialize in investment properties and was hoping they can shed some light on what markets would be good. Many people have said Newark to me, but I have been hesitant given the amount of crime.

@Dan Turkel...thanks for the contact information for Kenneth. When is the next meet up and how long does it meet for? I may have to wait till the following one as I recently gave birth, but am using the downtime of when my daughter naps to figure out how I can get started with real estate investing and do as much research as possible. I want to hit the ground running once I am fully recovered.  ( :

@Jonathan Boyle...I don't have a specific market yet. That is part of what I was hoping to research and get an agent's take on. I am not interested in flipping, but instead want to buy and hold properties so that i can rent them out and generate continuous cash flow. Given NJ taxes, I haven't found any deals yet that have been even close to worthwhile. I was hoping to find properties that would meet the 1.5-2% rule, but for NJ, I haven't found anything yet that even meets the 1% rule. So this is why I was hoping to just talk to a few real estate agents that specialize in investment properties and was hoping they can shed some light on what markets would be good. Many people have said Newark to me, but I have been hesitant given the amount of crime. 

Anyone know any realtors who specialize in investment properties in northern nj? I read that you need a solid team to get started and have no clue how to best get set up with that team. Any help is much appreciated?

Hiral

@ Robert Soto - WOW that was a lot but really great insight and consistent with what I have been thinking about doing recently - looking out of state. I feel like that may come with its own challenges though but I do think it's worth investigating what it would take. Any recommendations on how to start would be great. 

@ Joseph Scorese - I like the advice on finding a transactional real estate agent, but would love to hear if anyone has any recommendations on who might be good to go with in the Northern NJ area. Or even a recommendation on the best way to find one? Based on Vincent's response, it seems it is not as easy to find these agents.

Yes, I've been trying to narrow which neighborhood for quite some time, and I seem to be a bit stuck on that step because everywhere I have looked thus far has no good deals. Hopefully, someone has some insight that can help.