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All Forum Posts by: Allan Szlafrok

Allan Szlafrok has started 8 posts and replied 458 times.

Post: Meetup groups in Newark NJ for newbies?

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Lyn Dawson Check our NJREI Group on meetup.com they have one coming up at the beginning of February

Post: Lender to refinance out of Hard Money Loan 80% LTV

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

I have a contact who could help with that if you PM me. Does a lot in Newark and has lots of different loan programs

Post: How to find the right tenants?

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Daniel Sabato Zillow, apartments.com, and craigslist are where we usually list. That’s not nearly as important as the background and credit check though. Watch out for tenants with evictions in their record or with unverifiable income. Make sure you screen the tenants well because that’s a lot harder than finding people who are interested in the unit.

Post: Tenant not paying rent on time....

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Raj G. Being an investor in Hudson County myself I can tell you that you should have filed for eviction a month ago. It’ll be at least a month before you see a judge

Post: Racism versus Return

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Grayson Gist Had this same situation when I was shopping for a GC once. Guy used a racial slur to describe some of people in the neighborhood. That was all I needed to hear. Sent him on his way without asking him for a quote or anything. I don’t do business with people like that. I try to do business with people of high moral character which is especially important when you are looking for someone to do business with over the long term. You’re clearly uncomfortable with some of this mans beliefs and I feel like you’d be more comfortable with someone else. Keep shopping. Life isn’t all about dollars and cents.

Post: Buying Multi Family in Newark or other Northern Jersey cities

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Mordy Itzkowitz Super rough over there. Doesn’t mean you can’t make money but you will have massive headaches with crime and you won’t attract the best tenants.

Post: I want to do a cash out refinance for a property under an LLC

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Jason DiClemente these are local NJ banks but you can PM for the names I’ve used over the past year

Post: Buying Multi Family in Newark or other Northern Jersey cities

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Deddeh Howard The north ward and the Ironbound section of newark are great areas for rentals. The surrounding cities like EAst Orange and Irvington are okay but the property taxes are far higher than most of newark. If you want the better tenants no matter where you go try to stay close to the train lines.

Post: I want to do a cash out refinance for a property under an LLC

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Ariel Hernandez There are a lot of community banks in NJ with excellent programs for investors and are LLC friendly. I've been getting rates in the 4.5-5.2 range 70% LTV. You can PM me and I'll send you some names.

Post: Top places to invest in NJ

Allan SzlafrokPosted
  • Rental Property Investor
  • Long Island, NY
  • Posts 490
  • Votes 301

@Joshua Goldberg yeah I own a lot in newark as well as some other towns nearby