All Forum Posts by: Rick Estacio

@Kevin Hill  - That's true for evictions, yes, there is a mortorium until 2 months after NJ declares the COVID emergency over, but I don't believe there are any similar laws in NJ preventing entry into a unit to do an inspection.   

https://www.lawgapc.com/blog/a...

This says NJ law gives the landlord a right of entry for inspection purposes (in addition to anything in the lease).  So unless COVID laws in NJ have superseded this law, which I’m not aware of, then the landlord can require the tenant to provide access for your inspection.   

Check the lease or ask the seller to check the lease.  It usually has a provision that requires the tenant to give the landlord access to the property.  The seller should be facilitating this for you since they put the tenants in place and have the contractual relationship with them through the lease.   

@Jake Drappi I big on Long Branch for beach rentals. Schools are not great as far as I can tell, but in my view it’s one nice beach town close to NYC where you can find relatively affordable properties.

Hi - I just bought a vacation home in long branch this summer, which I'll probably AirBnb after renovating.  I"m also in contract to purchase two more houses nearby.  These two currently have tenants in place.   So I"m about to get started really and haven't been invested long enough to verify whether these returns are accurate, but I've been following several AirBnB's online and can confirm a high list price and that they are usually booked.

@Mark F. These are incredibly helpful references. Thank you for sharing them. I’m considering buying two units with tenants in place so this is just what I needed to know. Thank you!

@Kolton Weichman I’m in a similar situation and would love to hear how this turned out/any thing you learned.

@Tracy Fascia - I’m curious, where does it say AirBnB’s are illegal in Belmar? I see Belmar’s code says you need a license from the town to rent your house for less than 175 days a year, but after a quick search I’m not immediately seeing any regulations specifically banning Airbnb

@Salvatore Lentini - If you're thinking about short term rentals, the returns I"m seeing at the Jersey Shore are pretty incredible.  I"m looking to buy two single family houses near the beach so I ran the below comps (see next to last column for annual returns before expenses).  I'm seeing 100k+ a year on properties that costs $500-900k.  

Hey @Cody Z. - That's incredibly helpful.  Thank you for the great information.  

I'm actually a bit surprised you're looking to extend your winter rental a month longer next year.  Belmar monthly summer rentals (monthly or AirBnB) would be far more profitable in mid-April to mid-May, no?   Are you looking to extent the winter rental just because that's easier to screen and manage for you?  Speaking of which, do you use a property management company when your doing the winter rental? How about when your doing AirBnB?

I know I'm asking a lot of questions, without giving you much in return, so if there's any way I can help you out let me know.