All Forum Posts by: Jeremy Baker

Hi Prem, 

 In my experience, it depends where in Central or North Jersey you are talking about.  I have a property in Middlesex county (Iselin) , and the prices for a Duplex are too high (with little below retail deals available)   .  The positive I will note,  is that the rents are also comparable.    I had a hard time making the numbers work due to the high costs of duplexes in Woodbridge township.  Most were in the 300k range.  The numbers worked for cash flow , but the risk was too high in the tolerances that I used.   If everything went ok it would cashflow to a minor extent (10k per year or so).  But you are talking about inventory that is all very old.  (mostly 1930 and less)  for the 300k number .  Most of the high returns that I am seeing are a Buy , then (heavily rehab or rebuild) then flip .  Anyhow , I would love to hear how it goes.  

Dan Previti I think you have a good idea here, let's connect offline, I would be interested in learning more Jeremy

Lisa Grand Also new in the market in red bank, welcome! Ill send you a colleague request also Jeremy

Nicholas L. This is unrelated to your zoning discussion , but if you don't mind a slight tangent, could you please expand on why an LLC would be easier to get construction loan? If it's too much for a post , please PM me if you are willing to discus . Thanks , and good luck!

Aya Devin Mark S. Aya / Mark , great to meet you both. I'm also pretty new and I'm active in Monmouth and middlesex counties. Could you both please PM me, I've had a tough time finding a lot of others from our area. I would love to attend a networking group in our area also. Thanks Jeremy

Jason Hirko Jason, any suggestions on where to find partners ? I'm looking in the south and central New Jersey area

Austin Fruechting very nice work! Could you perhaps give me some direction on resources that may show how to plan such a strategy out? Or was this just something that organically developed ?

Franco Li Can you help me with some guidance on how to approach or find lenders willing to do 90% without FHA loan? Thanks!

Great work, question on the Reno costs. How would you characterize the level of contractors? High medium or low end? Also did you use 1 gc and he found all the subs, did he include materials in the bid? Thanks

Chris is correct , in my opinion you would need to be east of grand street and south of fifth st. Sunrise has some very nice spots too. Hard to tell where the rest of the area is going. As Chris mentioned there are big redevelopment plans by the city going on. Read asbury park press or tri city news . I just don't know how long and how much. I've been going to the jersey shore for 20 years and people have been talking about asbury long ago. I'd say it has good prospects but I'm not an expert and I don't know how to capitalize on a plan I don't have the inside track to. Might be worth a few trips to the planning meetings Jeremy