See the neighborhoods and see them again.

It literally sits on the “Wrong Side” of the boarder, between a historically not so good neighborhood and an up and coming and popular neighborhood.

He owns a 4unit multifamily in a nice neighborhood, the mortgage is around 2k a month (roughly 360k).

Based on the neighborhood and size of the house/ lot, I estimated the AVR at $65K and can place under contract for $5K.

(A house in a 200k neighborhood should not be compared to a house in a 900k neighborhood down the street)Look for properties with similar features such as size, year built, what sort of features such as pool and features such as waterview, etc.

But being its getting into the temps where you'd rather not go outside (COLD AS HE**), walking to all the neighborhoods in the area are IMPOSSIBLE!

There is a pool, playground and basketball ct.Specifics:$150k cash for all 32 units.Expenses are higher than usual as they include a $300 per building HOA cost for pool and landscape maintenance.Owner pays only water about $125 per building.Property tax:$1300/buildingInsurance $600Vacancy needs to be assumed highBuildings were built in 1971 so expense ratio will be above 50%.Onsite resident manager and super on site in exchange for free rent of a 2bd and 1bd.Although price per door is less than $5k the high expense ratio, low vacancy and sketch neighborhood have my ROI questionable and giving me very cold feet.

Of course, to maintain your reputation for future business, you need to do everything reasonably possible to make sure this is a successful investment, such as performing a quality rehab, placing a good tenant, and staying in stable neighborhoods that are attractive to good tenants.2) Sell your rental property to a passive investor at a reasonable markup, where you then lease it back from them at a somewhat below market rate.

What are the signs to look for in an area and/or neighborhood that it is improving.

I'm looking for 1-4 family properties in decent neighborhoods in Essex and Union county.