All Forum Posts by: Ashley Lesieur

I am working with a Developer who is looking for a silent investor for his 80-unit condo building in Downtown Jersey City NJ 07302 (plans already approved). He is looking for $10M investment and he is offering 10% interest annually through completion (approx 3 years) plus equity in total profits after sell out. Let me know if you or anyone you know is interested in learning more!

Hi @Kareem Harmon!

I am a real estate agent in NJ.  The state does not require you to live in a property for a year to rent it out, but like @Matt Lefebvre mentioned, perhaps your lender would depending on the type of financing.  Good luck!

@Andrew Bane you are correct that you can legally only collect 1.5mo security deposit. In NJ you cannot collect ANY additional fees.

It sounds like the real problem is bad tenants if they are skipping out on the rent. Maybe increase the scrutiny of your Tenant screening process? I always get past Landlord reference in addition to credit and background check.  Hope that helps!

Welcome @Allen C.,

Glad to meet you here on BP!  I am a real estate agent in Jersey City.  My team specializes in Downtown JC.  There are only a handful multi-fams available at any given time (inventory is so tight right now!), but if you let me know your search parameters I'll be on the look-out.  See you around BP and hope to meet you in person as well!

I live in Jersey, so was interested myself to see if this is legit.  Have you seen this page on their site?  Maybe this will help explain the fee.

http://www.nj.gov/pvsc/what/ucpm/rates.html

Hi @David Grimm

Just to piggy back on @Steve Vaughan's great advice...

I start with the tax records to get the name and mailing address, and then I use Google to try to find a phone number and/or email address.  There are many people-finding websites out there so you can usually find this information for free if you dig enough.

Sometimes you don't have to dig very far if the owner has their own website or public profile with full contact info.  Sometimes the owner may be a company, but when Googling the company's name, an article may pop up that names someone in the company and then you can search for that individual.  

As a real estate agent I always double-check the number is not on the Do Not Call list before reaching out.  

Good luck!

Hi @Shannon Guy,

I live in Union City as well and recently met John here on BP.  Hope to see you at the meet-up next Wednesday!  I'm a real estate agent just getting my feet wet in investing so I'd love to hear how you guys are doing in our neighborhood.  There is so much potential in Union City!

Welcome, @Nicole Rivers! There are quite a few of us here from Jersey. Have fun networking! See you around BP :)

Hi @John Errico,

I live in Union City as well and I'm so happy to hear you are already investing here!  I own a small condo which I will be live-in flipping next spring.  After that I hope to find a 2-Fam to house-hack, so I would love to hear how your 2-Fam's are going!  It would be great to meet up in person sometime, otherwise I will see you around BP.

If you don't already have a go-to real estate agent in Hudson County, I can help you with all of your real estate needs.  Glad to have you in the BP community!

Cool!  Thanks for sharing!