All Forum Posts by: Michael Brattelli

@Caleb Graham I drove around the neighborhood I wanted to buy in (lots of multi family). Wrote down all the addresses. Then went in to public records to see time if ownership, ruled out all the separately owned twins and made a priority list. From there I went to white pages to get phone numbers and started calling owners. Some people are open to selling and just haven’t thought about it. Keep in mind if you’re not a licensed agent this may be a little harder to do so I would find a local agent to help you, they could be a younger hungrier agent even. It dosn’t take that much time so it shouldn’t be hard to find someone to do the public records part of it.

@Jonathan B. Real estate is a long game, seems like a great cash flowing property. If the tenant situation is stable, personally I would dump the money in and keep it for the long haul. Selling now to avoid some costs is short term thinking in my opinion.

@Kevin S. Home inspectors are home inspectors and just that. They shouldn’t be quoting prices because they’re not contractors. I’ve viewed hundreds of home inspection reports and they never have estimates in them. You should be getting estimates from licensed contractors individually.

@Tom Hall I’m in South Jersey, Ocean and Burlington counties and lower. There’s very little inventory across the state right now and the market is definitely not down. I think you should speak to an experienced Broker and get a price opinion and ask how your local market is. What makes you think the market is down?

@Mark F. My market is South Jersey and it’s absolutely on fire still. From what I hear it gets hotter the more north you go.

@Tom Hall Values in NJ certainly aren’t going down right now. There’s a huge shortage of inventory. What town or area is it in?

@Jesse Santos In my area 1.5 is the norm for security deposit and that’s a non negotiable for me. If 1.5 is out of the ordinary for your area then I’d go with your local norm. Also, as @Nathan Gesner said I don’t think 2 year leases are a good idea either. If the people want to extend after the first year then just do an extension, why lock yourself into 2 years when you don’t know what type of tenant they will be? 1 year leases only for me.

@Chris Baist Look in the southern counties, Gloucester, Salem, Camden, Atlantic, and house hack a duplex. It’s tough to find inventory that numbers make sense on right now so while you’re looking keep saving because the good deals are not turn key. As far as a brokers license you don’t have to have 35 deals but you do have to show that you’ve been licensed and working full time for 3 years. They want to see a track record of you selling homes not just being licensed for 3 years.

@Ivana Timmers There are some big players in wholesaling down here in SJ. It can definitely be done despite what others are saying. You should look to connect with them and get a job working for someone instead of going at it alone to start.

@Joseph Elci There’s a big group in SJ, SJREI. It’s on Instagram as @sjreig . They always have meetings if you wanted to take a drive. Never know what connections you might get out of it.