All Forum Posts by: Justin R Melendez

I have two units in a multi family in Newark. i'm reading the average appreciation is 13% on Zillow. Seems a bit high, but wouldn't be surprised if correct. It was 8-10% last year with out any stimulus.

Very cool. Was looking into self managing properties in Missouri. Do you think remote landlording should be reserved for those with more than 4 or 5 units?

Hi Jason,

Congratulations to you and your wife on closing your first investment property! I am a real estate fund accountant so I live and breathe in excel. Personally, I started including all of my income/expenses in an excel spreadsheet to track everything by unit, general, tax, and type of expense. 

If you let me know what you'd like it to include, I could probably make one and send it over to you.

Best,

Justin

Looking to build a team of investors in low income neighborhoods to share ideas to master our niche and deliver sustainable returns and value for our stakeholders. I would be happy to share my ideas with you over a quick phone call to introduce myself. Please comment if you would like to keep in touch as share ideas.

Looking to build a team of investors in low income neighborhoods to share ideas to master our niche and deliver sustainable returns and value for our stakeholders. I would be happy to share my ideas with you over a quick phone call to introduce myself. Please comment if you would like to keep in touch as share ideas.

Hi Jehru, 

You don't happen to commute to NYC from NJ do you? I am trying to build a team myself and maybe we can compare notes!

Justin

Hi Sheena,

I purchased my house hack two family in January and I can confirm that it's not as easy as it's cracked up to be. That being said things seem to be working out as most of my costs are geared towards the strain of not having any processes in place. I would consider reading How to Invest in Real Estate by Brandon Turner and Josh Dorkin on audble audio book, getting a mentor, and analyzing two or three properties a day. I didn't have to adhere to the 2% rule because the taxes in my area are so low and I got this property at a decent price, but I certainly recommend it in more rural areas (not sure if Roy, UT is rural or not). I went down to about 1.1%, but it's been difficult with the amount of repairs I have had to make. I think once I move out I'll see really nice cashflow. Feel free to connect if you would like as I am also new to this!

Thanks,

Justin

I Ken I have a two family in Newark and have a few contractors. Message me what type you need and I'll send what I have.

Hi Victoria excel should be easy. I like excel the best, you'll be able to quickly look at the information in a very easy to see way.

Zestimates typically only work in my state for single family homes. My home is a two family and it's priced at about half what it should be