All Forum Posts by: Alexander Szikla

As an active investor and agent in New York and New Jersey - let me say, I've "seen this movie" before. 

2001 - 9/11 - New York is dead

2008 - Global Financial Crisis - New York is dead

2020 - COVID - New York is dead

Well, turns out New York came back each and every time. Not to mention before "my time" (i.e. 1970s / 1980s) when the city was truly on the brink and conditions were FAR worse. 

New York City is still a supply constrained market with ever increasing demand and that isn't set to change. I think there is still plenty of opportunity for savvy buyers. 

With that being said, I would highly recommend against investing in Newark. Although the city has improved tremendously, basis now reflects that and it is hard to find "deals". Moreover, the ENTIRE CITY of Newark is rent controlled making it even more onerous than New York City. 

However, I do think transit oriented New Jersey still has plenty of bright spots. 

Bump

I am very active in both markets and love em! 

Which market are you focusing on? 

Well said! 

Send them a notice to start with and see if that improves their behavior. 

The notice should outline possible fees for smoking damages and / or cause for termination. 

Members - doubt it. Employees - definitely not. Principals - perhaps. 

The definition of that is as bit open ended. I'm not an attorney, but happy to connect you with a few attorneys who might be helpful. 

Very clever strategy and niche - sort of blends the benefits of MTRs (premium yield) while de-risking with long term leases and high quality tenants. 

Let's say you can do it - why would you? 

Your renter pool just shrunk tremendously. Is that offset by some insane premium a vegan renter would pay? 

Ring in the New Year with a bang and a world of possibilities! As we step into 2024, let's raise our glasses to fresh opportunities, prosperous investments, and the keys to unlocking success. Happy New Year, investors! Rockson Advisory wishes you all a year filled with profitable ventures and rewarding partnerships.

So what do we have to look forward to? Well, there are a number of positive factors pushing a "Roar in 2024" narrative!

With the possibility of a mild recession, the Federal Reserve's announcement to cut rates three times in late 2024 and institutions like the Federal Housing Finance Agency (FHFA) and Freddie Mac hinting at a potential uptick in transactional activity after a slower 2023 which saw a 70% year over year decline in sales volume the "Survive Til '25" adage might be moot.

The FHFA has established the 2024 lending caps for Fannie Mae and Freddie Mac at $70 billion each, totaling $140 billion for the year. Notably, loans supporting workforce housing are exempt from these caps this year, signaling an anticipated surge in lending within this segment compared to the limitations in 2023.

Moreover, the Mortgage Bankers Association projects a 26% overall lending increase and a 19% surge specifically in multifamily transactions, pointing toward an active and thriving landscape ahead.

What's the catch? Is there a caveat? Yes - oversupply! Nationally, we are still facing a housing shortage; however, certain key markets could see some potential challenges in rent growth and occupancy. With a substantial 1.2 million apartment units under construction at the start of the year, an estimated record-breaking 510,000 units are set for completion by year-end.