All Forum Posts by: Mark F.

What's the income cap?

@Jason Merchey While I cant speak for syndication or large MF deals, I can speak for Winter Park. I grew up in that area and know it will. Depending on where exactly hes building, didnt listen to the podcast, WP is an class A/A+ market.

I've spent the last 28 years in that area and no one I grew up with has anything bad to say about it. Obviously you have your low income parts but if you're around Park Ave and Rollins College, it's gorgeous.

@David Wrenn good to know. Not a bad place for a multi. I live here for now and IMO it's only a matter of time before a whole foods/TJ gets put in.

@David Wrenn Wow so big time stuff, very cool. As a developer, have you heard of a lot going on in Bayonne? Seems like as number of large apartment buildings are/have coming to the area.

Welcome to NJ. I'm experiencing the same issues as you. I've been looking for a bit longer and offered on about 10 properties with nothing so far. Multi 2-4 with house hacking involved.

Problem for me is I'm using VA loan to start with and it's not a seller's best friend. I've considered going to PA but I dont want to do long distance PM so I'm still on the fence on that. NY is just as bad with tenant laws and property taxes. Either you grab it asap when it comes online and prepare to pay over asking or wait for the season to change.

I'm hoping to grab a single, not a home run, during the holidays. Good luck!

@David Wrenn Yikes I haven't been keeping up with it. That's terrible. I hope the city budgeted for it and doesn't lose the growth it seemed to be gaining. You owned the building or just help develop it?

@David Wrenn Certainly doesn't help. Sounds like they have some of it under control

@David Wrenn lol you're right. I drove thru Iron Bound after hearing about it and definitely saw the appeal. I've heard Forrest Hill is nice by Newark standards.

I get why people want to invest in Newark but personally I dont want to deal with the headaches of C- and D areas. But RE isn't my full time job either.

I drove thru a "nice" part of newark as per the advice of someone, Upper Roseville, no thanks. Haven't checked out Forest Hill yet.

You may know this already already but just in case you dont...

I got a puppy at 7 weeks in my newly purchased house. It was s fresh remodel which included newly laid carpet. It took exactly 8 months for him to TRASH it. Crate trained, fenced in back yard, nothing helped. I ended up putting wood flooring down which was the best decision ever. Hes much better nowadays!

If you have carpet in your place, it's done for IMO. I'd include a pic of said suspect but cant see any way to attach a picture.