All Forum Posts by: Ray Reed

Welcome to NJ.  If low income house flipping is what you are trying to do and you are in Linden, you have Elizabeth and Newark nearby to choose from.  The taxes in NJ are high but so are the rents.  With that said, if you are patient and diligent, you will find opportunities. 

try BCB community bank in Union NJ.. ask to speak to Ricci Merendino (pronounced like Richie).   

What kind of history are you looking for that is not on zillow or is it because this is a commercial property that it is not on zillow? Did you contact the county or municipality?

@Travis Bodnar I wouldn't say to use Craigslist for selling but if you have properties in a particular area or you are interested in investing in a particular area, craigslist is good to see what the units are renting for.  I rent in two different cities in NJ and I periodically go on craigslist to see what similar units are renting for.  for example one of my units i typically rent for $1650.  I just happened to browse thru craigslist last month and saw that no comparable unit rents for under $1750.  On top of that , i saw there was a shortage of inventory. So when i have that unit vacant or I buy a similar property, my rent will be closer to 1750 instead of 1650.  

Congrats Vincent. Would you mind sharing the numbers?

@Travis Bodnar you can search thru craigslist also to see what the rents are going for in a particular area. At least in NJ a lot of landlords advertise on that site.  

Click lock vinyl planks. just had a tenant on a ground floor unit that got flooded. luckily i had an appraisal and discovered it. tenant told me the apartment was flooded for a month. used a wet vac and a mop and the floors look like new.  i had TrafficMaster Allure.

@Vina Real did you walk thru with the inspector?  If not, i would suggest you do so on your first deal or first deal in an unfamiliar area.  you will be exposed to a lot of things to look for and how to look for them.  Some of those things are specific to that area and can help you determine whether or not to even pursue the property.

security cameras can help you prove that people are going in and out of your house that are not on your lease.  It will be more difficult to see them moving construction supplies unless you know exactly when they did it and you are able to backup that video before that footage gets overwritten.   i agree with some of the other members by taking pictures and a video at lease signing and possibly doing periodic inspections. whenever i send my electrician, plumber, exterminator, etc, i ask them 'how did the unit look'? sometimes i would go with them.  

he didn't give you his email address and he isn't responding to your texts because he knows until you send him something in writing, he can deny he received proper notice.  did you put in the purchase contract that you wanted the unit empty?

i am not sure where his father's home comes into play here?

so you want them to move out in 30 days because you want fair market rent??  I personally don't agree with that. If they pay on time and are not causing any problems, why kick them out in the middle of the winter. Work with them.  For you it is money but for them it is their home.  It is not their fault that they are paying $1250 rent.  Why didn't you have the prior owner tell them they had to move since the house was being sold?  Did he/she tell you how much they were paying in rent?