All Forum Posts by: Moises Mari

@Manuel Lopez great to hear! I'm always looking for new attorneys to work with, I'll make sure to add her to the list.  Please do let us know how the transaction experience goes when you are done with the transaction. Thank you!

@Sant S. PM me for the info, I've worked with an attorney in the past for one of my own rentals in Newark, NJ, it's not Hudson county, but I'm sure he can work outside of Essex county.  Feel free to reach out.  

Hi @Kevin Rodriguez, welcome to Biggerpockets!!.. I've been investing here in Northern NJ for the past 12 years. Having said that, I have only invested in Multi-family homes 2-4 families, as NJ have high taxes and makes it very difficult to make the numbers work. Bergen, Essex, Hudson counties are all great areas to invest, it all depends what you are trying to accomplish, most areas will bring a low ROI compared to areas outside of NJ. Having said that, It's not impossible to cash flow in NJ, it just gets a little trickier, you have to analyze your deals better. If you are purchasing a rental property I would highly suggest going for a Multi in NJ than going for a SFH, unless it's an amazing deal..

Hi @Steve A., to begin, I'll disclose that I have rental property in Newark, in areas with higher crime than Iron Bound. Having said that, I personally would feel safe walking around that section, but it all depends what you or your tenant considers safe.  Newark does have some higher crime areas but I would consider Iron bound an area with lower exposure to that. Check out the crime stats in that area for a better view of this opinion, you should be able to find this info on online maps.  

Before I purchase any rental property I drive around the area early mornings, in mid-day, around noon time, and also late at night, 9-11pm to see what type of activity I see around the property I'm interested in.  It helps me get a better view of what I'm getting myself into.  I also talk to some of the neighbors to get their insight of the area, most neighbors if approached are friendly, I talk to the neighbors around noon time, FYI...  Feel free to reach out with any additional questions about Newark.

Hi @Cody Jensen, I apologize on behalf of the real estate agent community, there are times where you deal with real estate agents that are not devoted to providing great service. You can always take the real estate classes and get your license, from start to actually hanging your license with a broker, it costs approx $1,500 - $2,000, between signing up for a board, taking the classes and signing up for the MLS that your broker requires you to sign on to.. I'm sure this expense may fluctuate from brokerage to brokerage but the cost is similar.

There are also monthly costs in many occasions once you sign up with a brokerage.  The classes full time is usually a 2 week course, you can also take it part-time which of course will take longer to finish. It's always an option to do it on your own, or try to find someone that is responsive and stick to them.  Good Luck!

@Louis Friedman welcome to Biggerpockets!!  For investment purposes I would recommend you to invest in multi-families, this way you can always have 2 sources of income instead of just 1 as you would with a single family.  I've been investing for the past 12 years and have seen better results with multi-families..  There are many great areas around Central Jersey to invest in, it really comes down to how close or how far you want to have your investment.  You'll find a lot of great information here that will help you with the process, will this be your first investment? 

Hi @David Smith, PM me, I have a few lenders I could connect you with, they have helped me with some deals of my own, they are very resourceful and always have the right program for my specific case. 

@John D. I'm not sure about the lender requirements when applying for a loan with the intentions to lease purchase option later.. I personally have never done a lease purchase option, but from the buyer side, I definitely see the benefit of doing one.. Hopefully some lenders can shed some light into this question as I would prefer an expert in this area provide you the best approach...

@Andrew T., Welcome to Biggerpockets!!!  There are many areas across NYC, on the NJ side that I would walk at nights. It's all about what you feel comfortable with.  I started investing in real estate also while working in NYC, my first multi-family was in Union City and would commute into the city daily.  The commute is awesome, only 15-25 mins at most in traffic to get to 42nd street, since buses get their special lanes into the City. It's also quick if you are going to the GWB.  Since then I have purchased more properties around Hudson county.  Let's connect, feel free to reach out with any questions. Real estate is where the money is at!

@Andrew Wenman welcome to Biggerpockets!!!  I started getting serious with real estate investing while working for Ernst & Young! both are great companies...  Having a W-2, some savings and good credit can get you jump started in real estate. As you said multi-families is what I would definitely focus on, and if you are open to living outside of Hoboken, you have opportunities to purchase in Jersey City, Union City, Weehawken, etc...  Feel free to connect..