All Forum Posts by: Mario Ciccarelli

@Eric Armstrong hmm I may have to look for a home outside the city limits then. My hope is to fill the house with enough roommates to cover the mortgage if not cover and cash flow.

@Eric Armstrong do you happen to know offhand the restriction number? Though I'm not opposed to offering college housing, I really only planned on doing a rent by room strategy for my primary house hacked residence. But I will look into Trolley Square as well thanks!

Thanks for the agent recommendation as well, I will be sure to reach out to him.

@Rumen Mladenov oh trust me I know you guys have better taxes, I think most of the country has better taxes than NJ. It's bad enough with the taxes on income and goods, but property taxes are astronomical in many areas as well. I'm certainly looking forward to keeping a little more money.

It's good to know the rental demand is high in Newark, if I can get started investing around where I live it would be a lot less daunting. Staying in NJ my best prospect would be out of state investing. I just want to rent by the room for my primary residence/house hack since it seems to be the best ROI. But once I start building a portfolio, I like your strategy of renting to families much more.

@Rumen Mladenov oh trust me I know you guys have better taxes, I think most of the country has better taxes than NJ. It's bad enough with the taxes on income and goods, but property taxes are astronomical in many areas as well. I'm certainly looking forward to keeping a little more money.

It's good to know the rental demand is high in Newark, if I can get started investing around where I live it would be a lot less daunting. Staying in NJ my best prospect would be out of state investing. I just want to rent by the room for my primary residence/house hack since it seems to be the best ROI. But once I start building a portfolio, I like your strategy of renting to families much more.

Hey, everyone! Even though I've been on BP for a few years, I've yet to buy my first deal. I have been patiently saving and reading, and now it's about time to start investing. I live with my parents in central NJ but it's much too expensive and way too tenant friendly, for my liking, to stay here. The company I work for has an office in Wilmington Delaware and I'm looking to transfer there. I got the "ok" from my boss so now it's just a matter of planning and waiting for the COVID-19 quarantine crisis to calm down. 

My hope is to move down to the northern Delaware area by early 2021 if not this fall. Since my employer's office is in Wilmington, I'd like to house hack in the surrounding area. My first choice is Newark since it has a younger demographic and nearby state parks. I love being outdoors, hiking, and I'm 26 so it seems like a good fit. I would also like to rent by the room so it seems like a good town for roommates. My ultimate goal is early financial independence and I'm hungry for work, networking, friends, and learning experiences.

So anyway, do any of you live in northern Delaware? I've only just begun my market research so any tips or advice you may have is greatly appreciated. If any of you live and invest in north Delaware, I would love to connect and network, and I'd love to buy you a drink when I finally get down there!

Out of curiosity; would you as an investor or property manager, benefit from a virtual walkthrough?

A virtual walkthrough would give you a model of a property that you could walk through at your own pace. At any point you could stop and spin around 360°. This would allow PMs to share walkable models on their website for prospective tenants to explore. Or, on the investor side, you could walk through a property and estimate rehab costs from the comfort of your home. You could even share this model with your contractor and have them walk it and give you estimates.

Is this something you would love to have? Or just a luxury? I currently work for a company that provides this service to contractors, engineers, and building planners. However, it is underutilized in the residential market. Most of our work is done for buildings in NYC. But if there’s a market for small scale investors, I would be interested in finding out.

Hello, BP!

I am just beginning to wade into commercial multi-family, I find their valuations to be much more attractive, and easier to navigate, than residential ARVs. I'm working with a small team of 3 others who have experience in 1-4 unit multi-family, but ultimately we would like to one day work our way into syndicating large apartments.

In the meantime, we would like to begin cultivating relationships with commercial lenders and brokers by pursuing 5-20 unit multi-family properties. It is our plan that properties in this unit range will be manageable yet add to our track record.

Are there any commercial real estate brokers in the eastern PA region who work with 5-20 unit multi-families? Our primary areas of interest are Bristol/Northeast Philadelphia, Bucks County, and the Lehigh Valley. 

Sorry, everyone. I got held up at work later than expected and won't be able to make it this month either. 

I’ve also considered Asbury Park as a potential rental spot or location to house hack. Supposedly, there are plans to develop the west side of the tracks and, if so, it could provide a great opportunity. I love going to Asbury Park, in fact I’ll be there next weekend! http://www.cityofasburypark.com/topic/index.php?topicid=14

I currently live in NJ and I am planning on investing in the Lehigh Valley or other surrounding areas in PA. Right now I’m beginning to save and build capital in the hopes of taking the plunge in the next 1-2 years.