All Forum Posts by: Shefali R.

Cesar - I used to live in downtown jersey city and you are right the market there is v hot. Are you renting at market rate - you might have potential to increase rent much higher than $100. Where exactly are u located - is this Newport, exchange place or elsewhere - location would drive how much upside you likely have in value. 

We are in contract on a unit and have explicit permission from seller to list it as a rental and show the property to prospective tenants before we have closed. Would love your thoughts on:

1. Can we sign lease agreement now with a tenant effective a future date after closing 

2. Any special clause that you have used in similar circumstances

3. Are there other creative alternatives to lock in the tenant now (say reservation fee applied to first month rent etc). 

Property is in New Jersey if that is relevant. 

Thanks so much!

I am a relatively new investor in Newark and yes it is made up of several micro markets -  block by block, and even street by street. I think there is more value to find here if you rehab or flip - I am finding it tough to get great returns in the buy and hold "almost turnkey" segment. Agree with @Paul Birkett, a lot of research needed to get into this space. good luck!

Thanks @Kelly R.

I have no current relationship with the title company so this would be new. 

Ibrahim Hughes had recommended one which I was planning to reach out to. 

For our smaller New Jersey transactions ($100k) we are trying to control every element of acquisition cost we can optimize. in this context:

1. Do you work directly with title companies or should you always have a real estate attorney for every deal (even for cookie cutter simple deals). 

2. If you use an attorney for every deal, is there an opportunity to negotiate a volume discount or some other discount. 

3. We are paying approx 1,500 for Essex county transactions. Is that in the ballpark. 

Thanks in advance for all your inputs! 

just wanted to close this out - we ended up not getting the deal - but on to the next one with more confidence!

Shout out to @Patrick Liska, @Chris Mason for v helpful inputs which will help us on every deal going forward. 

quick update - countered at 168k. Will keep you all posted on end result. Thanks again for all your help @Brett Goldsmith and

@Ryan Lee

Yes Got it.

I saw the actual counter offer HUD statement from the bank and their email. thanks @Ryan Lee

Bank is Wells Fargo 

Thanks @Brett Goldsmith! 

Will keep you posted. 

Thanks @Brett Goldsmith

I will ask listing agent (who is also dual agent) to 1. Push back 2. Ask what is minimum net number. Yes it is the first counter.

Is there any under information we can ask for credibly that could help us negotiate.