All Forum Posts by: Joseph Kaiser

I'm in a similar boat, @Filipe Pereira

Graduated from architecture school, still unlicensed. Looking to get more into rehabs - so far at networking events everyone says "they'll give me a call", personally I'm working on my niche where I can show houses as a realtor, then tell them about the potential the house has, and then draw it up for them. Done this with a few projects, so far both investors and regular customers have found it useful. 

-Joe

@Kevin Izquierdo

It's hard to tell without looking or seeing pictures, but I imagine if the units 1 and 2 are just one bedrooms you should average at least 900/month, if not more. Depends on their condition and what utilities are included. Close to the train like that should be good, esp. if it's a nicer street. I know it's hit or miss over there.  

As far as repairs, it really depends on what you want to do to the units or how bad they are (if they're beat up vs just improving)

I'd have your agent pull up some comps for rentals to give you a realistic pricing for each apartment. It may be helpful to work backwards (which is what I try to do) and see, if the apartments generate 3000 a month, minus your fixed expenses (such as insurance and taxes, mgmt and vacancy, etc.), what should you pay for the house. 

Hey @Kevin Izquierdo,

The rents seem a little low for Rahway, how big are the units? As far as the repairs, you also need to consider the cost of material, permits (if needed,) etc. 

To me the cashflow number seems low for the amount of work and money you're putting it out, and for a 3 unit building. The cash on cash ROI also seems kinda low. I'm pretty new to this all too, but that's just my two cents about it.

I'm definitely interested to see if you get any other feedback on the deal, I'm also in Union County and just starting to get more into this. 

-Joe

Hey Charles, welcome to the forums. I'm also originally from Roselle, I'm a realtor/also new investor in Westfield.  Always looking to connect with others in the area!

Joe

@Charles Burt 

Hey Mert - welcome to the forum - I also just signed up today. I had been listening to the podcast for a while and finally joined. Where are you looking to work in NJ? 

Thanks @Dan Barli! I'm still not sure yet - a friend of mine was looking to start wholesaling, I personally think I'd be suited to rehabs. Eventually I'd like to get into bigger projects with spec homes and developments, but for the time being I'm still learning and figuring out what will work best.

Hey Everyone! my name is Joe, I live and work in Union County, New Jersey. I currently work as a PM for a builder, and have had my real estate license since 2013. My background is in architecture and have worked in various fields in NY/NJ. As a realtor, I've worked with a few investors buying and selling properties; but I'm looking to combine my interests and experience and get into investing myself. 

I've been listening to the podcast and attended a few local REIA meetups, and I figure now it's time to jump on the forums.