All Forum Posts by: Marios Hoppas

Hi all, I would be grateful for your opinions on this situations.

I am going to see a duplex in NJ thats is nicely below market value. This will be my second investment property.

New roof and siding. Inside needs some cosmetic work, kitchens bathrooms, etc.

Second floor tenant has not paid rent since October. First floor tenant is a family friend of the owner and doesn’t pay rent but “knows they need to move out”

Solid location & rent potential is strong but given the current climate of evictions, I’m not sure how long it will take to evict the upstairs and possible downstairs tenants if something can’t be worked out. Seller passes this burden to buyer.

I’m going to have a conversation with my attorneys but what would you do here?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Wood Ridge.

Purchase price: $425,000
Cash invested: $140,000

House hack on a duplex purchased in 2017. Performed cosmetic rehab on both units, renting out 1 unit covers 90% of total expenses and currently occupying the other unit.

Hey Chow - I am currently house hacking in Wood Ridge, NJ. I love the area spanning Carlstadt, East Rutherford and Lyndhurst for lots of reasons. Mark is correct in saying it is very competitive and has been since at least 2017 when I got in. Happy to chat about the area and provide some recommendations.  

Hey Chow - I am currently house hacking in Wood Ridge, NJ. I love the area spanning Carlstadt, East Rutherford and Lyndhurst for lots of reasons. Mark is correct in saying it is very competitive and has been since at least 2017 when I got in. Happy to chat about the area and provide some recommendations.