All Forum Posts by: Peter Boutros

@Kevin Howell

This is common for distressed properties, bank owned and short sales. I’d recommend submitting an OPRA request to the associated town this way you know ahead of time what are the open permits on the property. You can simply do that for free by emailing the town clerk the form asking them to email you all open permits on the property. It’s public information.

@Tanya Brown

Good Morning TANYA, I highly recommend doing an OPRA request. If you google OPRA request form and put the town you’re buying in next to it, the pdf will come out with the email address to email it to. You can fill it out and request for all open permits on the property. This will give you an idea what open permits you will need close in order to get the CO. Other then that, most of the time you’ll just need the Carbon/smoke detectors and fire extinguisher. Often a lot of towns will allow you to close with a temporary CO where you’re allowed number amount of days to close the open permits or file permits for any work that was done without permits. But you’ll have to at lease but the carbon/smoke detectors & fire extinguisher up. I hope this helps. Please feel free to reach out if you have any questions.

Are you able to start with a muti family? Bloomfield, Linden, Elizabeth , Maplewood, North Newark, Rahway. Pretty much areas around the NJ train transit stations. 

Attend the meet ups. They are great and it a great place to network!

Hello Tequa,

Newark has been changing a lot in the past few months.  A lot of investors have been purchasing in Newark due to the potential of it becoming like Jersey City.  There are a lot of new projects coming up and prices have been increasing.  There are a lot of areas/properties that are near the train station / light rail station that attract commuters and can be very profitable investments.

Newark also has low property tax which does not eat up a lot of return on investment.  

Hi Justin,

Welcome! 

I used to live in jersey city as well. Let’s grab coffee sometime. 

Kevin, Patrick is right. Please check the rent control in your town.

Welcome Vlad.  It is definitely doable. Please feel free to contact me with questions, I am fairly local. 

There are deals out there. You just have to be quick on your feet and grab them.  I know for a fact you can do better than these numbers. 

Hi Curt,

Welcome to BP! The prodcasts are great to learn from, you’ll get to learn from other people’s mistakes without paying for them. Best of luck on your journey.  Do not hesitate to ask questions.