All Forum Posts by: Allan Szlafrok

@Farrukh Madaminov Is say you are correct except for fairmount which is a really tough area.

@Stefan Smith Your dad has a very good point. I’m originally from Brooklyn myself and I think it’s an amazing place to live which is one of the reasons it’s a tough place to invest. Everyone wants to be there! I decided to invest in northern NJ in areas like Newark and Jersey City and I’ve done well there. It’s also a tough market as you have a lot of money flowing into the area especially recently but there are still deals to be had you just have to be really careful as there are some really tough areas where you could have a hard time. It’s not exactly landlord friendly but it’s better than NYC and you’d be close enough to either manage the property yourself or at least keep a sharp eye on your property manager. I’d start researching Essex, Union, and Hudson Counties if I were you.

@Paul Bommarito Besides letting the water drip and leaving cabinets open they also sell these electric pipe heaters that you wrap around the pipe and kick in once the temperature gets below freezing. I’ve never used them but I may start.

@Andrey Budu I don’t think you can pay someone for a proof of funds but you can get a lender to let approve you for a certain amount and they will furnish you with a proof of funds for that amount.

@Jongmin Park William Agrait he’s on Clifton Ave in Newark

@Amanda Scully Go to some local meetups and talk to local investors. It’s like having your homework done for you. People are usually eager to share their experiences and knowledge with new investors. Hands in experience is way more valuable then online research especially in Essex county where I invest as well and the situation between town to town and even block to block can change drastically.

@Gerold Koch I know that if a tenant with children requests window guards you are required to put them in I feel like if they request the radiator covers you may be in the book for them. And I wouldn’t put it past anyone to have an “accident” after you neglect to install them. I would just put them in if I were you.

@Andrei Soroca Housee in good neighborhoods in Newark can be bought well within that price range. There’s still some good stuff in Jersey City but it would be at the high end of they price range or slightly higher.

@Adam Frumkin Better to have a new lease. Also go over the old lease and see if there’s anything you want to add/subtract from the agreement. Something like a no smoking or pet policy that may not have been covered previously. Treat it like a blank slate.

@Mary Mitchell We always do it especially after an eviction. I don’t think the new tenants would be very happy if they knew someone, especially someone with a potential grudge, could get access to the unit. It’s not expensive to rekey a door or even install a lock. Well worth it.