All Forum Posts by: Vincent Priore

@Vincent P.

I have to agree with @John M..  Proximity to jobs is the #1 reason that people live in this area, and will continue to do so for the foreseeable future.  Just look at towns along train lines who are all enjoying major redevelopments (ie my hometown of Bloomfield).  Property values and rents have increased, and despite high taxes, there is significant demand by investors.  Stick to your numbers and you'll be fine.  

Best of luck.

@Jefferson Gan

Agree that your recessed lighting question need a bit more detail.  We typically use Contractor Direct windows, standard material cost is about $140 for the basics. Then up from there.  Install starts around $80...

@Eric Costa  Good for you, definitely off to a good start.  Doing your homework and knowing your trading area are critical.  

I would second what @Odie Ayaga mentioned, get your goals clarified.  That will dictate what next steps you should consider.

You mentioned you're approved for FHA, are you planning to house hack?

We are long-time investors who have started a General Contracting business currently working only with investors.  Located in Northern New Jersey, we have done dozens of our own rehabs.  Earlier this year we began offering our services to other investors, and we specialize in 203K rehabs.  Why working with us is different:

- Personalized service with an eye towards maximizing returns on your investment property

- Cloud based project management tool with client facing app.  You'll be able to follow the progress of your project in real time, make decisions within the system (paint colors, door styles, tile, etc) keeping communication clear and concise

- Our reputation is our business.  We stand by all of our work 100%

www.PiccoPartners.com

@Casey Gocel

I grew up in Essex County and live in Bergen County currently.  Completely understand your frustration, this is not an easy place to invest in real estate.  But deals are out there, you need to be diligent in your search and criteria.

I would suggest defining an geographic territory that you're interested in and really getting to know the numbers cold.  What prices are folks getting (sales and rentals) what parts of town are more desirable, etc.  Then start mailing that area, driving for dollars, make your presence known.  Don't get deterred by short-term set backs.

@Account Closed

For $700, I wouldn't even think about it.  No homeowner wants to think about potentially dealing with something like that.  Yank it out and move on!  Good luck with the project...

@Mitch Messer  appreciate the information.  Would you mind sharing the name of the company you work with?

Hi BP,

So my friend @Gennadiy Matusevich convinced me earlier today that I need to hire a bookkeeper and I'm going to bite the bullet. I have a small REI business that's growing steadily and recently launched a General Contracting business as a compliment to the REI business. Needless to say, I'm up to my eyebrows in bookkeeping and need to get it off my plate.

I do really like the control so will need to resign myself to that change.  In addition, I don't want to spend a ton of money to get this done.  I'm also concerned about the logistics of how this will actually function.  

Looking for advice from seasoned folks and open to any/all suggestions (VA's, etc)

Vince

@Andrew Wenman

Welcome to BP!  I think you'll find that this is a tremendous resource and people are generally willing to share their experiences and knowledge readily.

For me, I house hacked my first property many years ago and have been hooked on REI ever since. I implement the BRRRR strategy and work primarily in urban markets in Northern NJ. Happy to share some of my experiences and insights on the markets where I'm active. PM me anytime.

@Nicholas Generelli

Welcome to BP!  I'm a Bloomfield guy originally and still have some family there and in Nutley.  Feel free to reach out if you have any questions, always happy to help.