All Forum Posts by: Ray Reed

That sounds a little off to me. the green card (certificate of inspection) is issued through the state.  The permits are thru the municipality.  That said, the state only cares that the violations are abated properly.  If the violations require permits by the municipality to repair, that has nothing to do with the state.  The state only requires the abatement at time of re-inspection.  If not, they start issuing fines that start to double over time.

If the violations are taken care of, the process can be quick. Because they don't actually send out a physical green card anymore,  it's all a matter of re-inspection and a PDF file being emailed, mailed or faxed.  

If you are having success with Newark, i would say stick with it.  the good thing about that city is that the taxes are relatively low compared to the rest of NJ, the price of entry is not that steep, and you have an abundance of multi-families.  With the multi-families, you have two exit strategies. If you cannot sell it, you have a strong rental market.  You can also look into certain sections of Elizabeth which is the city next door. 

How did you make out on the two newark flips? 

Its not a 'war zone'  but it is close to Avon Ave (which has a bad history).. Try sticking to North Newark and the Weequahic section close to Bergen St and Weequahic Park. 

If you have gone more than 30 days without insurance, you will have to go with the state or a more expensive plan.  from what I understand, once you close on a property in NJ you have 30 days to get it insured. 

Call Insurance Associates Plus in Union.  ask for Bela or Michelle 

@Ben Sosa i know what you mean by Williamsburg. i pulled out of a deal 13 years ago before it was even called williamsburg. now that property and area is thriving.  Newark has been slower turning around however. 

@Ben Sosa how has your experience been so far? it can be a rough place to start off. 

do you have an attorney or realtor? usually they will guide you.

if you have a contract signed and are in attorney review, you should have all the contingencies outlined. 

you should do an oil tank sweep. that costs under $300. if there is an underground oil tank that was not properly decommissioned with permits, RUN AWAY!! 

If there are no underground oil tanks, you want to schedule an inspector. not a contractor but a house inspector.  once you get more experience, you can bypass the inspector and go with trusted contractors but for the first few houses, i strongly recommend not skipping the inspector.

you will have to schedule a CC and fire inspection if you decide to proceed.  in Newark even if you fail the CC  inspection, you can close with a conditional CC. That means you are responsible for all the items that failed. 

if it is a 3 family or above, you should check the status of the Green Card (Certificate of inspection) with the state. 

with Newark you have to be very careful with the area.  The numbers will look attractive but a lot of times in that city it is attractive for a reason. PM me if you want to further discuss. 

try to stay west of 1&9. 

It depends on what part of Elizabeth.  The elmora & westminster sections are good.  some parts are very seedy and eyesores.