All Forum Posts by: Joel S.

@Teonia Riley

Wow thanks for sharing. This is a strategy in a nutshell.

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*This link comes directly from our calculators, based on information input by the member who posted.

In Jersey there is simple Solution which called A surety Bond. You get a Contractor who has such a Bonded and licensed. 

Make sure you have a contract. 

@Oraude Boston was saying Areas that are not diverse coupled with other issues, are less suitable for growth and change.

So my question is, what are the odds that Newark east orange will grow? 

with unemployment, crime, etc?

@Mark F. The rule is 100 Properties, 10 Offers 1 Accepted. So your doing fine. 

@Craig Combs Thanks for the Tip .... 

@Marcus Lawson Thanks for the Info. However I find Elizabeth to be ridiculous with rent control am I wrong?

@David WrennSpot on. I know Greenville well, it varies from block to block & Thanks for the New alliance Info and On3 your a wealth of info.. 

@Brandon Arce Greenville is Sandwiched between Heights Bergen Lafayette, and Bayonne so its due to grow...

@Gregory DeRosso Thanks for the Info.

@Gargi Keeling Isn't union City the most Hostile to Investors and Landlords?

@Juan Delacruz I think your right, It looks rural, with so many shells and shantytown appearance. Your still right! And thanks for starting this thread I really learned allot here. 

@Peter Tverdov With Shantytown appearance its is indeed rural. So much so for the Garden State motto. 

@Jessica Zolotorofe: Thanks for the referral.

@Neil Pradhanang Sorry for My delayed response. The process on this deal took me long about 20 months.

Construction was a month or So, Renting out & tenant stabilization took another 6 Months.  The  Refinance was after 20 months. 

@Oraude Boston

I'm just wondering about these areas, most of the houses surrounding the neighborhood looks run down, not a ethnically diverse neighborhood which in my opinion is recipe for a successful neighborhood. 

The people living there don't seem to be employed, and the government is the largest rent payer by way of section 8 am I wrong?

Electric Stove. I just Installed quite a few. Just check with a licensed electrician if you have enough Amps coming in the building for that. 

@Ruchi Patel  You need Electrical Permits in jersey city when ever you are touching an electrical Wire period......

Now you might not need to tell the city everything and they wouldn't have a clue to show up for inspection if its a small job. However if you need a major renovation, You better take the permits. 

as far as your second question, 
"What is the real purpose of permits and what do the inspectors check for"

 The Purpose of permits are: Oversight, for safety inspections, as well as municipality Income. 

The will look if the wire are grounded to prevent Fire, tied to the stud to prevent wire movement, Plates to prevent nails into the wires. 

Rates will vary on the following factors 1)Market, {Bond Market/ Stock market} 2)Property , and 3) Borrower risks . Some lenders have more appetite towards certain properties and Risks then others. 

The biggest factor in Interest rate I'm aware of is, weather its owner occupied or investor property.

Then:  2 family or 3. 

Stated Income or verified. 

And So on ..........