All Forum Posts by: Account Closed

Hi Everyone,

I'm currently looking to house hack my first deal. I'm monitoring the MLS closely, however I haven't been able to close on anything yet.

Now, I'm looking for a list of every 2-4 multifamily residential for several town in south nj.  Unfortunately, I haven't found a way of getting this list.  I've tried:

• Downloading the tax-record database
• List source
• Calling the county tax office (who basically told me to look on the site)

Has anyone in NJ ever gotten a list like this before?  If so, what can I do to get one?

Tim

Hi all,

I've been touring duplexes in my area recently and found one that could be a good investment.  Total turnkey condition, could be negotiated to an acceptable price, and decent rental market.  However - there's one issue that I can't get past right now: the ceiling in one of the bathrooms is low.  Very low - my head actually touched the ceiling when I entered the bathroom (I'm about 6'0).  This is because the house is historical and was built in the 1930s, when people were much shorter.   The entire neighborhood in the town is historical.

In general, will this hurt the rental value of the property?  Should I consider it a deal breaker?  I know much of the answer to those questions could depend on the market in the area, but besides walking around and measuring the height of everyone in town, I cannot determine a way of figuring if the market conditions are right!

Hi everyone,

I've been looking at markets close to me over the past few weeks.  One thing that I can't get a good read on is whether lots of rentals in an area is a good or bad thing for me as an investor.  On the one hand, it shows that the market is there, but on the other hand, a lot of the times that means more crime in an area.  

I know that each area is different and it's impossible to isolate one factor.  Generally speaking, what do you all think about towns / cities with lots of or very few rentals?

There is a South Jersey REIA, and they're having a meeting on Monday. Here's the link for the event. I plan on attending as well

https://www.sjreia.org/Events.aspx?ID=New-Investor-Subgroup-58-4-4-2016

I'm interested in this thread as well.  For me, Southern NJ / Areas near Camden Country area would be great.

I grew up near Philadelphia, and while I'm not currently active in Real Estate Investing, I would say that Northeast Philly is fine in terms of crime.  I even think a lot of cops live in the neighborhoods you mentioned, though I'm not 100% sure.  

I'd still be generally careful and talk to locals in any of the neighborhoods you mentioned before buying.  Philly is weird in that a few blocks can be all that separate you from an amazing part of the city absolute hell.  Case and point, near 2nd and Girard is becoming a popular and gentrifying part of the city(I've even heard rumors of skyscrapers being built near there), but I know of someone who got mugged with a sawed off shotgun at 6th and Girard.  No matter what you do, look very closely at not just the neighborhood, but part of the neighborhood you're in.  Especially true for somewhere like Kensington.

It's hard to decide the tradeoff you mentioned, however, I can easily envision parts of Kensington and Rittenhouse appreciating rapidly very quickly.

Hi Adam and Lisa,

I'm new here on Bigger Pockets as well.  Looking to build a buy and hold business within the next 6-12 months.  I love networking, so feel free to send me a message and connect.

You'd think, but laws don't always make sense.

In Chapter 9 Section I of that documentation, it says that you do have a valid cause to evict in the case that you want to move into the property or sell to someone who wants to move in.  You must give them 2 months notice.  However the comments in that section seem to make the case complicated - in the case you want to sell you need a contract, but otherwise it's not necessary.  Based off of what's written in that document, you should win in court.  However, again, this isn't legal advice and your best bet will be to talk to a Real Estate Attorney.

I'm curious to answer to this question as well.  While I cannot give legal advice, I've read online that in NJ, the tenant does not have to move out once the lease is over.  The lease automatically renews unless either the tenant gives notice of its termination, or the landlord wins an eviction in court.   There's no exception for if you continue to take rent from him.  That's according to chapters 5 and 9 in this guide here:

https://www.lsnjlaw.org/Publications/Pages/Manuals...

What actually happens in these situations, especially the one you've mentioned?  I don't know for sure.

I am wondering about the same thing.