All Forum Posts by: Rez Cury

Thanks @Odie Ayaga, I will reach out to her. Any thoughts on these numbers?

Hello everyone!

I am looking to go into contract with a partner (50/50) and I was wondering if I could have any feedback. I have been researching the area for almost one year now and I see lots of potential, the building is about a 12/15m walk to Newark Penn Station. Also, a good opportunity to turn these apartments into 3BR as they have a "spare" room in the back that is currently used as a "sun room", not completely enclosed, but that could easily be.

Two units have been renovated in the last two years and two would need about $60k to be renovated and turned into 3BR units. The retail space is being sold to the manager that has been working with the current owner/landlord but its name will belong to the new owner of the building, meaning if he fails the business I could resell it (he will have no bill of sale as he is leasing the equipment from the current owner and I would be holding the name of the business myself as the new owner).

I'm slightly apprehensive about interest rates going up too much after the first fixed 5 years, as this would eat away a lot of my cash flow, or my taxes going up tremendously with the renovations and adding a third bedroom in two units.

Any thoughts? Also, if you can refer a good lawyer and commercial mortgage broker in the Northern NJ area that would be much appreciated!

Cheers,

Rez

Hey @Adrian Iwaskiw, I'm looking for some properties in the ironbound as well, just wanted to say hi. Have you had any luck so far?

Hey @Nidia C.

Wanted to check in and see what happened with the deal.. I am looking at a building on Ferry Street as well. It's 4 apartments and a restaurant.

Regards,

Rez

@Gary Harris thank you so much! I just got your e-mail and asked you that question, I figured you'd be a good reference. Thanks again for all your help and let me know if you ever need anything out here in NYC!

Hello BP!

I am actively looking to invest in Jersey City and although I am licensed in NJ, I conduct most of my real estate business in NYC where I have been practicing RE for a few years now. I am looking for a wholesaler and/or an experienced investor friendly agent who can help me purchase a few properties in the area (mainly focused on Bergen Lafayette and The Heights).

If you happen to know anyone please put is in touch!

Kind regards,

Rez

@Rao Mu just sent you an inbox!

Hello everyone!

My name is Rez and I have been following BP for a while now. I have been a real estate agent in NYC for the past few years and I'm starting to invest in Central / Northern NJ as prices in NYC are prohibitive.

I am a driven and self motivated individual looking for similar folks to discuss options and possibly work together. I have my finances and credit in order to start immediately, ideally you would too.

Drop me a line if you are interested in joining me!

Cheers,

Rez

Hey @Burak Arikan did you have any luck finding a wholesaler in the area? Mainly looking for Union City and West NY. 

@Nathan Paisley - I'm going to check your website out.