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11 September 2024 | 11 replies
Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.
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7 September 2024 | 15 replies
If the property ends up selling for less because of this now lien issue that was not suppose to happen, do I have a vlaid claim to the missed profits + Holding cost?
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16 September 2024 | 43 replies
Also we “Pruned” our assets and moved up in quality and future embedded development profit.
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11 September 2024 | 6 replies
Any STR buyer is going to want something that makes a good profit with a property manager.
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18 September 2024 | 47 replies
This is clearly a shakedown, and while I'm not a lawyer and wouldn't know what law it violates, it certainly must violate one or more laws to purposefully conceal what the correct address is in an attempt to have the LL violate housing laws, and thus profit from it.I would request a freedom of information act request, and ask for all documents related to the previous 80 cases, as there are bound to be common themes, such as "attorney claiming to have sent a letter", but all 80 landlords mysteriously never got a letter.
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12 September 2024 | 32 replies
The value of the building was determined by comps, so increasing profitability of the building wouldn't increase the value like a true multifamily.
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12 September 2024 | 9 replies
To save on costs they can't pay their staff nearly as well, leading to good employees leaving for better opportunities in the for-profit space.
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13 September 2024 | 20 replies
For wealth generation to me its all about appreciation organic or forced.
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11 September 2024 | 2 replies
Do we each also split 50% of an "owner draw" on rent profits?
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11 September 2024 | 22 replies
But is there a scenario where you strictly entitle lots or maybe take reasonable size parcels that you split and turn into 8 to 10 lot subdivisions to where the profit makes sense?