All Forum Posts by: Kevin Manafi

Hi @Carol C., I'd be happy to connect! 

@Robin Santos Happy to connect! I am an Investor and Agent in Northern NJ so I am able to understand both sides of the business.

Hi @Akhil Nagapuri,

I'm from Northern NJ, so I would recommend Union, Essex, and Hudson counties, and sometimes Passaic County. It all depends on your criteria and what exactly you are looking for, but those counties have a solid amount of multifamily inventory and certain towns have a nice enough price-to-rent ratio to cash flow positively on the right deals.

Feel free to connect and we can discuss more.

@Eric Weber Happy to connect and chat whenever you'd like.

@Crosby Afolabi Congrats on getting started on your home-buying journey. NJ is a tough and expensive place to invest, but it can definitely be done. I'd be happy to connect and chat more about potential areas.

@Mike Harris As noted above, FHA is only for owner-occupied properties (for at least the first year) and there is no legal way to get around it for an investment property. Your best bet is to buy a multifamily, live in one unit for a year, and rent out the other units.

@David Spangenthal I'm from Bergen County born and raised as well, but I did a multifamily deal in Hudson County and continue looking for investments in NJ. It's certainly expensive, but that's not to say that it isn't possible to find deals and positive cash-flowing multifamily properties. Feel free to connect and we can chat more about some areas I think are good for investing in NJ.

@Devyn Caraballo @Shivam Patel To my knowledge there are no NJ tenant laws that require a landlord to provide furniture like mattresses, couches, tables, etc. (different story if you are advertising the unit as furnished). 

The only thing is, it's probably most common for room rentals to be furnished because by nature they're usually pretty short-term, so the people who do room rentals usually prefer furnished places so they can move in/out quickly and on to the next.

Hi @Briana Gilbert

It's probably a bit of a tough time to be a wholesaler, especially as a new wholesaler, because of how hot the market is right now. The whole essence of wholesaling is finding a good enough deal that it has a built-in margin for you and the investor you wholesale to--which will be tough to find right now.

However, a good way to get started would be by starting to build your network of investors. Start networking, reaching out to folks, and building a database of investors so that when you do find a good deal, you know who/where you can go to flip that deal right away.

Hey @James Lopes, as Will mentioned above, a lot of the assumptions are dependent on the specific property you are running numbers for. While Vacancy will be fairly steady based on the state/area you're looking in and Property Mgmt. will be fairly standard as well, you can and should modify your allocations for Repair/Maintenance as well as CapEx based on the age and condition of the property you're analyzing.

Obviously, the older a property is, the more you will want to allocate to CapEx in anticipation of some big-ticket items needing replacement in the near future, and same with Repair/Maintenance. Vice versa for newer homes. As you analyze more and more properties, you will learn how to adjust the allocations based on the property and get more confident in no time.