All Forum Posts by: Sylwia Leczycka

Hello,

Curious on thoughts about buying a home in Northern NJ. Market has been crazy with lots of overbidding and/ or all cash offers. To compete I have had to increase my budget by over $150K and take out most of my 401K for the down payment. This would be for a family home. I have investments elsewhere. Wondering should we buy know at what could be the height of the market or wait it out?  Is my money better sitting the 401k or should I put it into a currently overpriced home. We are actually in attorney review on a townhouse that needs a ton of work and is overpriced and its just not sitting well with me. Looking for logical points for or against if anyone would like to share. Maybe there is something I haven’t factored in.  Any insight is appreciated. Thank you!

Thank you for all the feedback. Will definitely look into landlord specific platforms. Very helpful insight. 

Looking for some advice - am a first time landlord in morris county nj renting out my one bedroom condo.  What is your opinion on using venmo or similar service to collect the rent?  Thank you. 

New to real estate in NJ close to NYC. Debating if my first investment should be in a small condo or small multifamily. Mainly nervous about what the future holds for rentals. Properties have been selling like crazy around the area Im looking in and people have been over paying by 20k, 30k, 40k and more for every type of property as a lot of people are leaving NYC. Taxes in this area are also very high (13k for 300k house as an example). I’ve lived here a long time, I have a good job, make a good income, have good credit and a good amount saved. Am doing this solo and am not afraid of work or being a landlord. Looking for the best mangeable long term return. Option A: small condo first then rent and buy more/ bigger after things “settle down”. Option B: small multifamily live in one unit, rent the other then rent both and buy own home. Interested in any insights anyone may have that i may not have considered. Thank you for you input. :)