All Forum Posts by: Kurt Kwart

@Joseph ODonovan NJ does have high taxes but with the proper appeal in AC, many drop significantly.  For example what is listed for this property is actually 25% less (low $3000 range after appeal). 

I love the city but property management is a big issue.  There  zero 3rd party mangers I could recommend.  The most successful people here scale it up themselves.  

Prices bottomed out and now we have lots of new development in the city.  There are at least 6000 new jobs coming on line this year.  Flooding is the biggest issue.  Some areas are low and others have basements that have never flooded.

Currently empty.  I was getting $900 and $850.  I wouldn't call them turn key but they are in pretty good shape.  I'm not a fan of duplex and tri's unless they are A/B class and in newer condition (or ready for tear down).  These units are smaller with poor layouts.  Basically I would rather have the money for other projects queued up. @Joseph ODonovan

I have a couple offers already but wanted to reply.

Zillow Link to Property

Great Investment property on 2 lots in Atlantic City New Jersey.

Good future development opportunities. Presently used as a Duplex first unit has 2 bedrooms 1 bath the second unit has 2 bedrooms and 1.5 baths. Use one as a vacation home and the other as a rental to pay your bills. The address is 45 & 47 N Bellevue Ave.

also @Gene Fish   Airbnb is a legal option here if allowed by the building association.  Usually, it is not

While the market here has stabilized and things are looking better it is impossible to predict.  I have the same issue with the first house I purchased back then if you consider capex, I'm losing about the same amount.  This first house taught me a lot about tenants, home construction, flood insurance and section 8.  I hold it because I didn't want to blow my credit up over it but it hurts. 

There is quite a bit of construction now with new permanent jobs coming. The local university campus moving into the city is helping see the potential and creating lots of activity.  I placed my bets on the recovery here in the last few years.  Everything was way below construction costs and hard to resist.

watch some gary v videos on youtube and get educated with BP podcast/videos/forums.  Do a self evaluation of what moves you can make (househack=starting out with limited $) or investment with high income

I would pay the minimum on student loans while house hacking.  

Even if its half a duplex close to transportation. with roommates it might be doable.  I don't know that market, we did shore and philly which worked out. 

Dave Ramsey went under due to being loaded up on "subject to" deals and banks eventually called the loans due

@Brandon Hall any thoughts on paying  2018 taxes this year on rental and personal property to try and stay under the 10k limit for next year?

Hey @Ty Martin in your position I would look for something that you can AirBnB and expand your search out a bit.  I nudged my wife into Fishtown years ago even though she knew it wouldn't be a long term thing and it has worked out incredibly. Then we focused on AC looking to maximise the limited amount of funds we had.

I would stay away from rehabs