All Forum Posts by: Stefano Grottoli

Hey @Michael J. I would say Pinterest or an app called Houzz. They're both good sources to see what is trending!

@Justin Koehn the idea is to buy them to flip. I don't think they are the standard in the area, but it's a good point. Will try to investigate. Thanks for the answer!

Thanks @Will Barnard - I was imagining that it could be a total disaster, but just wanted to hear other experiences. Thanks!

Hi everyone! I've been looking at some properties to buy that have all of these 3 characteristics. I understand that it will all depend on the maintenance, current condition, etc, but as a rule of thumb, how would you look at properties that have all of them?

Thanks!

No upfront deposits or anything similar?

Well, you have 2 topics about it, so here's what I answered you on the other one:

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Why the property devaluation was 25% in just one year? It doesn't make any sense. Either you bought it well above market value, or something catastrophic happened to it (or to the neighborhood).

Really curious to understand a little bit better. Jersey City market is usually hot! 

Why the property devaluation was 25% in just one year? It doesn't make any sense. Either you bought it well above market value, or something catastrophic happened to it (or to the neighborhood).

Really curious to understand a little bit better. Jersey City market is usually hot! 

Hey @Justin McElroy, welcome to BP!

The best way to network and connect with the professionals you just mentioned, is attending local RE meetings! Take a look here in BP or Meetup.com and do a search. Im pretty sure you will be able to accomplish your goals there! Good luck!

@Paul Muwonge

Hi Paul - it seems to me that you should wait a little bit before moving forward. If you're planning to buy a multi-family home in Newark, you should deeply understand the market conditions before, and that should be able to tell you if the price is reasonable or not. The same for the rent. I wouldn't trust the seller information only. I would take a step back, study more, network with successful investor in the area, attend REI meetings, talk to Real Estate agents and gather as much information as you can. You should also do your own due-diligence in terms of the prices of the properties, average rentals, etc.

So in my opinion, as you will put up a LOT of money in it, you're still not ready to invest. Hold on your anxiety a little bit, learn, talk, network, meet people, gain knowledge of the market, understand all of the complexities of buy and hold, and then move forward after you fell confident about your deal!

Just my 2 cents.

Good luck!