All Forum Posts by: Robert Mack

This idea might of been brought up already, or maybe it's even on the forums and I am just blind.

I think it would be very beneficial to have a forum where each state is represented so that all people from that state had a place to gather and talk about their areas....
or if we can do it by region to start if it is to much to list every state in a separate forum.

What does everyone think?

Hey Mike, I'm from the Hackensack area, not far at all from you.

I may have a couple more invites left; I got a total of ten. If anyone would like one, please PM me. This way you won't have to be on the waiting list and will be able to register right away.

I came across this somewhere on the internet. It's called grandcentral.com
There is a waiting list to get on and it's free

Google just bought it and they give you a phone number with the area code of your choice and then they link that number to any number you'd like.

There are many different features, such as having all your conversations recorded, fowarding all calls to VM's, screening callers, and many others.

I have no affiliation with this website, I just thought it would be helpful to some people.

Yea maybe I could pick up an average $5mil home in Alpine and rent it out to celebrities when they come to NYC for a trip from LA :lol:

You're probably correct with Hackensack, Lodi, Garfield and other such towns, I just have to look hard for the deals and am very excited to start.

I had one more question, I read somewhere else in the forum about the "2% rule" when buying a rental; of what I understand, the rule says not to buy a house unless the rent is at least 2% of what you purchased the property for. In this area however, even if you could purchase a property for $200,000, the rent would have to be $4,000 which just doesn't seem possible ( it would be nice though!). Am I wrong, or do I have this "rule" mixed up?

Thanks again Pete, win some money tonight!

Hey Pete,

It's nice to see some people from NJ. I am from Bergen County, have you ever done any deals in this county or do you feel the prices here are too high? I'd like to get your opinion on this area with regards to investing in properties mainly to wholesale and/or rehab.

I am a Rutgers Grad (New Brunswick) and I am looking for a property there to buy and rent out to students as I was one just a year ago! Have you ever bought in the New Brunswick area?

Thanks Pete, I look forward to getting to know you.

Rob

As far as investing goes, I wouldn't do it in NYC.. Too expensive :lol: I am not sure about other city's but here in NYC there are alot of areas which are landmarked or designated as historic and getting permits to even renovate thos buildings is very hard, so that's one thing I'd look out for if you live in a city/town with old historic buildings (everyone probably knows this anyway ha).

I am learning about zoning here in NYC and could probably apply the skills such as how to read (zoning text is sometimes not written in english) and interpret different zoning laws in NJ, where I plan to do my investing.

Here is an article form HSH.com. It is where I get my monthly mortgage rates from.

I'm not sure if this is what you were looking for exactly, but hopefully it clears your questions up alittle atleast.

http://library.hsh.com/read_article-hsh.asp?row_id=85

I am ready to start my investing in real estate. I want to start by doing calls so that I get my fear out of the way and learn how to talk with potential sellers before I have them calling me....

I read Peter Conti and David Finkle's book, Investing in Real Estate without cash or credit and was going to use their call scripts... has anyone used this or can anyone comment on these scripts? Are they a good script to follow?

Any other information will also be very helpful and much appreciated! Thanks!

I recently graduated from Rutgers University and am trying to learn as much about real estate as I can. I am working in the real estate industry in NYC currently but hope to eventually go out on my own and invest in properties in the NJ area; I have always wanted to be on my own and not work 'set hours' cant stand those already!

Anyone from the NJ area?