All Forum Posts by: Mardochee Pierre

Thanks @Erik Pedersen , @Gilbert Ross Jr . I'm looking as we speak. Im loooking properties that are generally close to transportation to and from NY, An up and coming location with a mix of blue and white collar residents thats not peak on gentrification by the way.

Hello,

I'm a newbie and I'd like to know if there is anyone that has experience with renting out properties in northern New  Jersey especially in Jersey City, Newark, and Orange? I'm looking at properties in those areas as we speak.

Hey what's  up  guy? I'm looking to form a team for Fix and Flips in  NY, NJ and CT.

1. Some who has experience with interior design

2. General Contractor 

3. a broker who has experience in dealing with short sales, REO's, foreclosures, closing deals asap..for NY, NJ or CT area

Hello fellow Biggerpocketers! I just wanted to mention that I love this site and I've been following some the forums that have been posted. Also the podcasts are awesome. Just to give you some info about me, I'm fairly new to this site and I'm looking to get into buying and holding in northern New Jersey (multi-families in Newark, Jersey City , Union, Orange, West Orange, South Orange etc...), Flipping property in NY metro area  and also investing in vacation properties. One of my main questions I wanted to ask is,  where are some of the best places to invest in multi-family properties for northern New Jersey?  I hear some conflicting information regarding places like Newark, Jersey City and Orange. Some people say to stay away from those places some say it's the next best thing. I personally don't mind in investing in rough neighborhoods or areas (I'm originally from Harlem,NY) as long as it's not a complete war zone. I also  believe in neighborhood redevelopment but I digress. One major concern I here above all else is about the taxes in Jersey are ridiculous, how bad are they really? Just to give you some perspective I've lived on Long Island where the taxes are stupid high and outrageous. Are they worse than Long Island?  I would love to get some help on this guys asap. Thanks.

I would do a simple search for the mediun houshold income in these towns by zipcode as well cause some vary greatly.

I can give you all the information you need  I have a person I can hook you up with in terms of inspection. Just give me till tomorrow morning. I'm close to the shore and I know a lot of these towns. Make sure though if you do chose a town in Long Island that you check with the town, village and county.  Like for me I live in North Babylon and I would check with the town of Babylon. If you need any other help besides finding an inspector let me know.

Some of the homes are not that bad...I live on long Island(North Babylon) and I seen some of the houses myself. Sure you do have ones that are horrible and deemed unsafe but there are some that are somewhat inland that are great deals (Nassau county especially) . You'll have to evaluate the damage it's done in the surrounding area as well. I can tell you for sure that some of these houses only suffered light water damage and that's it...you'll definitely find some great deals if you look hard enough. Good luck.

Note to America's builders: less-expensive homes are starting to move.

Purchases of new homes climbed 7.8 percent from the previous month to a seasonally adjusted 539,000 annualized pace in February, a seven-year high, according to the latest U.S. government report. Perhaps the best news for the housing industry as a whole came in the breakdown of sales, by price.

Americans signed contracts to purchase 17,000 new houses in the $200,000-to-$299,999 price range last month, the most since March 2008. That amounts to 39 percent of the 44,000 properties sold in February (unadjusted and not annualized). Another 8,000 homes—the most in nine months—sold in the range of $150,000 to $199,999.

February marked the third straight month of increased sales of homes priced from $150,000 to $299,999. The pickup may hint at greater demand from lower-income Americans. Even with mortgage rates near historical lows, limited wage growth, stricter loan standards, and high student debt loads have made it difficult for many to take the plunge.

The apartment vacancy rate was 4.2 percent in the fourth quarter, hovering close to a 13-year low, according to property-research firm Reis. Rents climbed 3.2 percent last year, the most since 2008, according to Bureau of Labor Statistics data. As rents rise, the job market continues to strengthen, and builders respond with more affordable housing, homeownership becomes more appealing. That's what's needed to give residential construction a second wind.

Since the recession ended, "it's been a rich man's housing recovery," says Carl Riccadonna, chief U.S. economist at Bloomberg Intelligence. Granted, winter weather and how the government adjusts the data during this time of year open up the possibility of a false start, but "we may be seeing the tip of the iceberg of a more broad-based housing recovery" as economic conditions have started to improve for the lower-income demographic groups, he says.

 Thanks, I promise I won't over do it!