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All Forum Posts by: Matthew Smocovich

Matthew Smocovich has started 3 posts and replied 17 times.

Thanks @Jessica Zolotorofe! The numbers do make sense and it seems like the area still rents.

Only concern is from the perspective of resale down the line, and if potential buyers will have the same concerns as I do.

Thanks again!

Hi BP,

Quick question regarding a specific area in Hoboken, NJ. I'm looking to purchase my first condo to live in now but rent out in the future. It's located on Jackston St in Hoboken, in between 2nd & 3rd St. I'm not familiar with the area, but from my own research I've discovered that the area is prone to flooding and is also fairly close to a housing projects.

Looking for some guidance on whether I should be concerned with my own findings, or if the area is still a solid buy regardless of the location.

Thanks for the help,

Matt Smocovich

@Shawn Thanks for the advice, needed that input. I’ll keep that in mind while I continue to house hunt.

Post: Trouble finding deals

Matthew SmocovichPosted
  • Posts 18
  • Votes 3

@Kyle Shankin hey Kyle,

I'm looking at 2 unit MFR and no I typically leave out the unit I'll be living in when running my analysis. That way I can understand what my estimated out of pocket costs would be.

@Amy Beth thanks Amy. I plan on managing myself, just used as a conservative measure. Having said that, I’ll look to exclude the 8% in my future models.

@Shawn M. I plan on managing myself, just including the 8% as a conservative measure. Maybe it’s best to remove and not be so conservative?

@Angel Arr interesting. Keep me updated on how it goes.

@David Wrenn definitely! I’ve been slacking in the networking department.

@Chase Louderback that’s great advice. I never thought to take the direct mailing route. Thanks for the input.

Also, I agree and need to take that into consideration. I think based on the market, the negative $500 range could still be a decent deal, especially since it’s still putting me in a better position to save than continuing to rent in NYC.

@Ethan Smith I agree. The $300-$400 range is producing a lot of properties in need of lengthy TLC projects.