All Forum Posts by: James Masotti

@Berridge Thomas - You should try to come out to the South Jersey Meet-Up next week.

https://www.biggerpockets.com/forums/521/topics/668376-south-jersey-meet-up-11-1st-colonial-community-bank

@Tom Antonio - DelREIA or Greater Wilmington Housing Providers would be the two most active regular meetups in Delaware that I'm aware of. I've organized a few meetups in the past, but regularly attend the monthly South Jersey (where I live) ones hosted by @Justin Eaton. Maybe we can get something organized for the spring though. 

 NICE! - Have fun!

@Odie Ayaga @Mike Bonadies @Lauren C. @Rick C. @Chris Connery @Dennis Moore @Mayer M. @Randall Kates @Matthew Rembish- You guys coming to hang out next week or what?

 That's what @Anthony Susco specializes in. If you're referring to 1st Colonial, they also do that. You can chat with Rich DeGrace at the event. 

 It's definitely not the kind of deal I would do, but everyone has their own investing style. So it doesn't really matter what I think, it's more a matter of what you are looking for. I also think those values are a stretch. Look up your own comps just because your buddy wants it to be worth $80k doesn't mean the market supports that price. Just understand you can't really look more than 2 blocks away from that area as you can go down to houses that are $15k and up to $150k depending on the direction you go...and they are not comparable neighborhoods. 

12% for PM is high though. Send me a message with who the PM is. 

 Depends on the kind of investor you want to be. You'll get a lot of interesting tenants, lots of vacancies, late rent hassles, and evictions...etc. For my investing style I wouldn't purchase a single property there, but if it was included in a portfolio of other properties that I wanted. Assuming it's 3 bedrooms I wouldn't value it for more than $45k (and wouldn't pay more than $30k minus repairs). Then I'd plan on it renting it for $900.

Now if you're on Lincoln/Union...that's a different story...if you get up north of 5th St again a different story. In Wilmington...every block matters. 

As long as you're north of 8th St (Tilton Park) you're generally okay. I would be careful though, most of the areas there are historic so be sure to check that before proceeding with any BRRRR expectations.

https://www.wilmingtonde.gov/government/city-departments/department-of-planning-and-development/city-historic-districts

Kevin - We get together about once a month. Set a keyword alert for South Jersey and you'll be alerted every time @Justin Eaton creates a new event. 

https://www.biggerpockets.com/forums/521/topics/652292-south-jersey-meet-up-10-foundation-title

Plenty of time for you to hype this event and get your sales commission from @Dave Van Horn