All Forum Posts by: Shefali R.

Thanks Daniel - what part of Newark are you referring to. We are currently only focused on university heights, vailsburg and ironbound and haven't graduated to other, riskier parts of Newark. 

Would love to find 12 to 15% return opportunities in those areas. 

Darren - Thanks for getting this together. Looking forward to meeting everyone.

Thanks. Narasimha - I will reach out to you offline.

Yes 8% seems low doesn't it - but am not finding anything with much higher returns in the area. Probably need some expert advice!

All - quick check in on whether anyone had thoughts on this. Thanks!

Hi – Need some guidance on investing in a fourplex in Upper Vailsburg area in Newark NJ.

1. Background:
   1. Analyzing a Fourplex, fully occupied, ROI ~8% on current NOI basis assuming 50% in costs (before forced appreciation) (could go to 10% after but not much higher)
   2. I would say D area (Low income, high crime). 1920s building and will need maintenance
   3. Low income tenants – on month to month and possibly on welfare (not sure)
   4. To date my partner and I have only invested in A or B areas and only acquired non occupied units so that we get to select tenants first hand.
2. Need guidance on the following:
   1. Tenant screening - What kind of tenant screening is possible to do before acquisition of the property. What questions should we ask and what documents should we review
   2. Does anyone have experience with tenant eviction in Newark (We want to price this in on the off-chance that this might occur). how should we think of related costs and time.
   3. Property management – does anyone have experience with a property management company who operates in the area. could you please share your recommendations
   4. What kind of ROIs and Cap rates should one be benchmarking to in this neighborhood of Newark

Experienced Newark Investors - @Ibrahim Hughes, @Steve Wilcox, @Angelo Mart, Others – do let me know what you think about Upper Vailsburg and ideal returns here. Also, what should I be looking out for. Are there sub-neighborhoods that should are very high risk for a new investor in this market category.

Thanks!
Shefali

Thanks I will! - No one has responded yet.

Hi Everyone - if you have come across or work with CPAs who have experience working with real estate investor types, would love your recommendations. Northern NJ area. Thanks so much!

Shefali

Hi - would you be able to recommend any CPAs based out of northern NJ who have significant experience working with real estate investors.  Thanks so much.

Thank you Ibrahim! appreciate it.

Thank you both!

Hi Glen - I am looking for a Title company and Real estate lawyer with experience in Newark. Came across your post from September and hoping you might have recommendations.

Thanks so much