All Forum Posts by: Matthew Palumbo

@Jordan Gregg this is excellent info, thank you very much for being so candid. If you had a choice to put a business on Dodd st, what would you like to see pop up? I own 7 acres on Arlington ave, I’m very interested in seeing where this little pocket of Bloomfield goes. I really think, given the right improvements, this could be a great area in the future. How do you like the neighborhood so far?

You guys who own multi-families around Watsessing train station, are your renters young people commuting to the city? I am looking in the area, but the thing I can't get by is how Dodd st has nothing to offer commuters. Where do you all shop? If you are commuters, do you just go straight to the train in the morning? What a waste.

Ok, I guess I should just look a little harder for a 3-4 family. I appreciate the advice folks. 

I am very new to real estate investing. I've been looking for deals in the Watsessing/East Orange/Upper Roseville area to house hack (mainly 3-4 families). I have not found much that will cash flow to my liking. I'm now thinking of a different strategy. There are a ton of 2 families going on the market that are being flipped. So basically, it is a 2 fam with 2-3 br per apt and everything is brand new, but the basements are unfinished. I'm a single guy looking for cash flow only. I am thinking I can offer below market to get the cash flow I'm looking for, then renovate the basement to make an apartment for myself. I'm wondering how I would present that to a lender so I can get an FHA loan. I have about 30k saved to put down and use towards renovation. Am I crazy? Like I said I am extremely new to real estate investing and looking for any advice you all can give.

Thanks