All Forum Posts by: James S. Taylor

@Angelique Diaz thank you for taking the time to provide a thorough and thoughtful response!

In the rent control ordinance I read, it said that the landlord can push rents in a vacant unit by spending a total amount equal to at least 12 months of actual monthly rent per unit wills be entitled to a Maximum of 10% increase in rent.

Am I mis-reading the law? That seems to be a lot of capital repair and not a lot of rent growth on a vacant unit!

Thank you for your help!

James

@Ike Iregbulem thank you! Sent you a connection request.

Hey Guys, bringing this post back for the hundredth time. Same story, new investor with two partners excited about breaking into the Newark buy and hold small muti-family arena. 

Would enjoy the opportunity to connect with people to discuss their experiences starting out in Newark and am interested to hear if there are any meetups still active in the area. 

Thanks for the help!

James 

Hey Guys, stumbled upon this thread and figured I'd post a question  I had about Newark in hopes you guys are sitll active in the area!

2 partners and I are interested in buying in Newark, we are a little concerned about the rent control ordinance, especially because it seems to be restrictive on 2-4 unit Non-owner occupied multi's which is where we want to get our start. 

Any insight on how you guys have purchased under-performing assets and legally reno'd and increased rents to fair market price while adhering to rent-control ordinances is greatly appreciated! 

Thank you

James

@Angelique Diaz @Jose Garcia @Ibrahim Hughes @Ankit Duggal 

Thank you @Ryan Ingram and @Sammy Lyon, I will send you each a PM! 

Talk soon, 

James