All Forum Posts by: Angelo Mart

Are you searching for Fix & Flip or Buy & HOld

There is ALOT of talk in the NYC / NJ area about tenant rental forgiveness due to the Coronavirus. Please everyone I know we are all optimistic about REAL Estate being the best investment which it is but in times like this you MUST have emergency reserves. NEW YORK landlords are gonna halt evictions for up to 3 months. I THANK the lord I have good tenants but god forbid someone becomes infected and can't work, my property manager said it is not worth moving forward with evictions as courts will be backed up and Judges will grant them to stay due to hardship. Please learn the law, interpret the law and enforce the law when need be

I absolutely love Section 8. One of best decision I ever made

Check for typical safety issues handrails, broken steps etc. But the most important is chipping paint on the house especially the outside. Scrape & paint any chipping paint where needed. FHA inspections always fail that

I am currently doing the same research on PA. I hear Allentown is a good market to invest. Let me know what areas you think look good

I am located in a Tenant friendly state. I opted to use an attorney that has been practicing landlord / tenant laws in my state for over 30 years. Btw he also knows all the judges. I prefer to DELEGATE this task. Better safe than sorry 

Brother don't let the naysayers talk bad about section 8. Although, some of my tenants are a little annoying, all in all it is great. Constant cash flow and any issues with tenants I contact the caseworker. You can hit them with a new lease if they don't sign have them leave the property WITH a proper notice. It is a little more difficult getting them out but you have to play the game and I PLAY THE GAME

I would start doing construction asap getting an entry level job to learn the trade. Save some money and study the crap out of real estate in the interim. Keep that credit score up. Learn more construction. Then study the crap out of a market area you want to start Flipping or doing BRRRR deals in. Leverage your construction skills with distressed properties by keeping costs down

My current contractor started construction out of high school. He went on a drug bender for a few years and ended up in prison. Upon release he went back to construction, learned the life out of the business. Started his own business under his sisters name because of his felony. He works his *** off now and make six figures with the business and just bout a nice flip that he will make a lot on once finished...just some insite

I hear from many people that Ohio is a good cash flow market. I have looked at homes that are 1/3rd of the prices near me in NJ with the property taxes also being about 1/3 of what I pay here

My first rental property was a better area in a Rough (D) City. In other words, investors consider my City a bottom of the barrel "D" market. Gangs, Drugs, Heroin addicts everywhere, Violence, Corruption. 

However, I purchased the property in the better area of this city. Out of town people consider the entire city to be a bad investment (hell hole) but local residence stated that my area was the "better area" of the City when I did research. Thus, making it C/D borderline area not a war zone. I have section 8 tenants and the property CASH FLOWS every month and I love it. 

Every city has Market areas and MICRO MARKETS. You must study the CITY inside and out literally. I was an appraiser in the county which helped but I really dug deep and spoke with landlords, property managers, brokers and most important Police Officers to determine the better areas of the city to invest and it worked. You can go to lower class areas it is how we make money. The interpretation of market ratings (A-D) is very subjective and opinionated from one person to the next. You need data and conversations with local professionals do verify the difference in areas. Last but not least SCREEN SCREEN SCREEN TENANTS