All Forum Posts by: Kevin Manafi

Hi @Phil Burk, yes you can! As others mentioned above though, the requirements on what parts of the process might require you to be in-state may vary. For example, some states allow everything to be done from a different state--online pre-licensure education, fingerprinting, etc.; some others, however, may not allow online pre-licensing courses and require you to be in-person for that. 

I'm based out of New Jersey but got my Florida real estate license without ever stepping foot in Florida until after everything was done and I had chosen a brokerage, so it's more than possible.

Hi @Jacob Zimerman, 

I'm an investor and investor-agent located in Northern NJ and Tampa. Would be happy to connect!

Hi @Account Closed, congrats on taking the first steps in your real estate journey! As others said above, we would need more info/numbers to help you analyze the deal. One thing I'd definitely recommend you do is assess the demand for one-bedroom homes in the area to make sure you won't have any problems selling it when that time comes.

Hi @Lauren Del Valle,

The Northern NJ market is a bit of a beast in and of itself, and it's an especially challenging time right now to lock down great multi-family properties. However, there are always deals in every market--you just have to know how to find them (or have the right agent that can!). 

I'm an investor and investor-agent born and raised in Northern NJ, and I cover most all of Bergen, Hudson, Essex, and Passaic counties. I'd be happy to connect and learn more about your investment goals.

Hi @Kumar Gaurav, 

Yes--it is possible to form an LLC out-of-state, and in fact, it is quite common. However, it's important to keep in mind that whatever state you choose to incorporate your LLC in, you will then be subject to that state's laws. If you ever had some sort of legal issue with the LLC, you could be required to have to appear in that state's court.

In the end--unless there is a specific reason you are choosing to incorporate in a different state (more favorable LLC/business laws and treatment), most people would be fine to just stick with the state they are based in for simplicity's sake.

Hi @Karim Hussein, I had a two-family rental property in Bayonne for the past few years down by W 21st St, and I did not have central air in either of the units. However, it totally will depend on where your property is located specifically and what your competition around you is offering. I would check the other rental properties you will be competing with and see if they have central air; also, I would check on rentals in the price range that you want to charge and see what they are offering. If you're trying to charge a premium rent price for the area, then you will need to offer a premium product, which usually would include AC. I don't personally know that I would think of it in terms of how it would affect your appraisal.

Hi @Leslie Monroy! As others have mentioned above, Bloomfield is certainly a solid option for rental properties and has been for a number of years due to the easy transportation options to NYC and other parts of NY/NJ, leading to great rental demand and pricing. There are other neighboring towns in other parts of Essex and Hudson counties that are feasible options as well.

I'm an investor and investor-agent based in Northern NJ (Bergen, Hudson, Essex, and Passaic counties). I'd be happy to connect and learn more about your investment goals!

Hi @Antonio Villao, congrats on taking the first steps in your investing journey and welcome to the BiggerPockets community! You are definitely in the right place.

As an investor and investor-agent myself, I can tell you that when looking for an agent as an investor, there are certain things people do and should look for. Ideally, you want an agent who is an investor himself/herself so that they can see everything from the investor's point of view and be able to quickly identify which properties have the potential for cash flow and/or appreciation (and know which areas are trending up or down). Further, having an agent who both understands and is able to help you with underwriting and assumptions is another huge plus. Lastly, I would say it's important to find and be an agent who is not just trying to force a deal on a client and close a transaction, but rather to be invested in the relationship as a whole and growing your business together on actual solid deals.

Hi @Jonathan Vargas, it sounds like your head is in the right place and you are on the right path.

I am an investor and investor-agent based in North Jersey (Bergen, Hudson, Passaic, and Essex counties). I'd be happy to connect and learn more about your goals.

Hi @Hellary De Los Santos Matos,

I'm an investor and investor-agent based in North Jersey, mainly serving Bergen, Essex, Hudson, and Passaic counties. I'd be happy to connect and chat some more about your investment goals.