Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Allan Szlafrok

Allan Szlafrok has started 8 posts and replied 458 times.

Post: Have leads, but no experience.

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

Hey PM me im an experienced investor i may be able to help.

Post: Why wont my flip sell?

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

i buy and flip in Orange. You may be priced a bit aggressively for the area. You did a nice job with the reo but most people who can afford to spend 345K can alrealy afford to buy in West or South Orange which is way better. Id consider a a price cut at this point. That will also make the listing pop up on the MLS again and get in front of other agents.

Post: Looking for meet ups in New Jersey!

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

flippers and funders has a great meetup one in West ORange which is happening this tuesday and another one in JC im nto sure when. Check them out on Meetup.com. Kyle Jasey runs it hes a good guy to know

Post: Is "sellers concession" worth it?

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

Id love to know where you can sell a property in Newark for that much money. That sounds like a l lot and this is coming from someone who owns several properties over there and has sold in the area. What is your yield going to be after expenses? If its less than 10% walk away especially if its in a rough area. The seller must have a ton of profit baked in if he can offer a 10% concession and he probably has a lender breathing down hos neck to sell it fast. if i were you id negotiate the price down a lot. Unless its a new construction house that seems way overpriced.

Post: New Jersey 3-4 Unit MFR for cash flow. Where in NJ to buy?

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

Due to the long judicial foreclosure process in NJ its entirely possible that the person lost their house 5 years ago when prices were lower and the economy was weaker. So i don't factor in that argument. I would recommend JC over WNY. Theres a lot more buzz around JC and i think it will see far better price appreciation than WNY and prices are slightyl cheaper in JC i think youll be able to pick up more units in JC than WNY.

Post: NYC Vacant Properties List

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

I doubt its unavailable the person you spoke to was just lazy. Ask about filing a formal OPRA (Open Public Records Act) request. That usually lights a fire under them because they can get in trouble if they withhold information at that point.

Post: Knob and Tube Wiring Issue- Who Pays Buyer or Seller?

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

Yeah you are definitly going to have to replace at least the boxes maybe not the wiring behind the walls. Its just another thing to negotiate within the purchase the price. Maybe ask for a seller concession. Since prices have risen so much in that area its quite possible that the seller has room to be nickled and dimed a bit.

Post: Portfolio Lender Recommendations

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

Colony American finance who recently changed their name to i dont know what. They will do it but their rates and requirements are steep. I would look into some local community banks who i know in my area are starting to fund some of these kinds of deals. Find a commercial mortgage broker the kind of guy who gets financing on bigger projects and they may be able to help you find a community bank who is looking to put capital to work in your kind of deal.

Post: small multi families

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

There are great real estate opportunities in your backyard in Northern NJ. If you could scare up another 50k or so for repairs i think you could wind up with a nice cash flowing rental in some areas like Newark or Orange. Im from NY and i used to own a lot of properties in Atlanta GA and i wouldn't recommend long distance investing.

Post: New Jersey renter market

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

I like Newark a lot. Ive been investing there for about 5 years and ive seen it get a lot better property wise. Although im happy people keep frowning on it for investment. More for me : )