All Forum Posts by: Ray Reed

@Allyssa Compton a few reasons.  even though the taxes are high in NJ, the houses are cheaper.  Regarding Newark, it is the biggest city in NJ.  It has a port, airport, good mass transportation, arenas, low taxes and close to NYC.. the thing is, everyone is waiting for the city to turn around as a whole like Brooklyn and Harlem did.. the old mayor Cory Booker brought in a lot of outside interest and high profile names.  Some people tell me that it is changing but i haven't seen much change since i started investing there unless you are talking downtown. 

"have it section 8 (3 bedroom they pay $1597)"  - $1597 if you provide all the utilities.. If you are providing only cold water, section 8 will approve closer to $1350.. still pretty good for $100K investment on a multi. 

Met a prospect to sign a lease.  She came with her friend.  She was $50 short and they both tried to argue 'It's only $50'.   My response: 'If it's only $50 why don't YOU have it and why don't YOU give it to her?'....  i never rented to her even after she got the $50.

@Richard S. ... you are all welcome. I have found this site as one of the best things since sliced bread for a landlord in NJ... as i was telling another member, it may not be intuitive but it is easy to learn.  i learned it from plugging in my name and learned the codes since i knew the results of my my cases. to do the eviction and civil check, you look for one of the links on the left side labeled 'civil case public access'. you then get prompted to verify a code. after that you do a search by name. prefix 'LT' is a landlord tenant case. once you click on a particular docket, you can back out and do a search by docket. by default, the name and docket you clicked on earlier automatically gets populated. from there you can see if the case was dismissed, default or a warrant of removal was paid for.  i have quickly screened out tenants that were in court 2 days prior and looking to move 'ASAP'. i have also screened out tenants that there were filings every other month = bad paying tenant. 

two things to keep in mind, system does go down certain hours and there is an archive menu when you do a search by name. recently the state has been archiving cases in less than 2 years. you can still  see if a case has been filed. you can't see what documents have been filed, if a warrant of removal has been paid for, tenant's eviction address, etc.  but to be honest, i just want to see if cases have been filed against them and how often. 

i had a situation where a new tenant moved upstairs from a tenant that smoked weed. i was unaware of it because the prior tenant upstairs either didn't mind or smoked too.  Well the new tenant did mind since she had young kids.  my units are non smoking to begin with.  i had to send the first floor a notice that the next time we encounter the weed smell, i would escort the authorities into every unit until we determined the origination.  that fixed the problem. 

@Account Closed not only can you use it for screening, you can get all the eviction forms on that site too in PDF format.  I know you are in NY, you can download the paperwork and even file for eviction by mail, saving you gas and tolls. 

I have spoken to a few friends and real estate professionals and surprisingly few are familiar with the NJcourts website.  You can look up eviction filings, civil cases and criminal convictions for free.  In Newark, NJ i stopped pulling credit reports years ago unless it is a very common name. Instead i use the NJcourts website to see eviction filings, criminal convictions, creditor lawsuits, etc.. I do not even waste my time and show apartments to anyone inquiring if i see the red flags on this free site. Is anyone else having a good experience with this site? 

@Account Closed you stated Paterson is challenging and filled with crime.  I don't think it will be any better in Newark. Newark is ranked as a more dangerous city than Paterson..  You definitely have to know the good pockets. Elizabeth you have to know the good sections also like Elmora. Union , Linden and Rahway are good in Union County for multifamilies.

@Deanna McCormick  a friend of mine told me the same thing about an hour ago.  Unfortunately  it does occupy most of the floor in one of two closets in the master bedroom. It is pretty obtrusive. One of the main things my applicants look for is closet space. 

@Jassem A. i don't think i have the clearance to slide a blade underneath the safe.  I am not at the property now but i will definitely check it out when i go back there.  Thank you for the advice.