All Forum Posts by: Neil Pradhanang

https://njbiz.com/lame-duck-bill-hudson-county-condo-conversion-ban/

Just received this email from the board. Are there any investors doing multi-fam -> condo in Hudson county NJ? What are some initial thoughts?

@Brandon Richey living the life!

What parts of the country are you investing in?

@Kulin Dakwala hi Kulin, check out meetup.com and search “real estate” events around your way. I personally go to events in Somerset that happen every 2 or so weeks.

@Orane Jacobs when you say “expensive” are you referring to the downtown area? Because that’s where the highest price points are in Jersey City but just to piggyback on what Allan mentioned, certain parts of Jersey City is undergoing massive transformation. So it’s all about buying at the right price and adding value to your investment.

Many investors are being MF 2-4 units and converting into luxury condo for the best bang for their buck. I have been personally involved in projects like this in the Heights area. Feel free to contact me if you’d like more info.

@Crystal An I think it’s best to have as many sets of eyes on a property and what kind of work that needs to be addressed before actually purchasing a home that needs work. 1/2 contractors and 1/2 inspectors at the very least if the investor is inexperienced.

@David Casas hey David, my advice would be to look in a specific area or town and see how long homes sat on the market for before getting under contract. You can check with an agent, they should be able to pull info like this right away. Every town and city is different though and certain buyers aren’t concerned with the popular trends of today. Hope this helps!

@Efraim L. Hey Efraim, in my opinion, Secaucus is a beautiful neighborhood and is north Jerseys best kept secret. Very strong rental market and a short bus ride into NYC. The Secaucus train junction is a little further away from the middle of town but is still reachable. Let me know if you’d like anymore information, I grew up around there and additionally have multiple ground up construction projects happening right now over there.

Hello, there are a few meetups a week all over NJ! I suggest you guys check out your local area on meetup.com or eventbrite.com and type in Real Estate Investing in the search bar.

This is how I connected with many people around the northern and central jersey area.

@Alexis Figueiredo look into Secaucus, easy access to NYC. Very strong rental market especially for STR

@Frank Tragni hey Frank let me know how I can help you I work in the area that you’re looking for