All Forum Posts by: Beste Park

I think house hacking is a great strategy if you want to take advantage of owner-occupied financing options, but otherwise, I like going after bigger deals as well. Numbers make more sense than smaller deals (you usually get more with the almost same amount of money, at least in my area)

One thing I noticed tho - commercial MFs might not appreciate as fast as SFH or small multifamilies.

Thank you so much for everyone's responses! Some people reached out to me from BP and had an amazing chat with them about this topic.

My main question was around the appreciation and long term growth. For example, I like buying residential real estate from A or B+ neighborhoods because I can see year over year appreciation (for the places that are close to Manhattan, especially) However, when I look for a commercial multifam, I see that the e appreciation works a little bit differently (based on the cash flow from the building - mostly correlated with the % of rent increase per door -considering units are rent controlled-) So, I was questioning if it's still a good idea to buy from expensive neigh. or not.

Hello everyone! I've just closed our first residential multifamily deal in New Jersey and am now looking to rent it out. At the same time, I've started to explore the market, primarily in Hudson County, NJ, for commercial multifamilies for my second purchase. My ideal timeline for the second investment is within the next 6 months.

I have some questions about investing in commercial multifamilies as a newbie. Is there anyone here with experience in investing in 6+ unit properties, preferably as an owner-operator? I would like to chat with a mentor/investor regarding finding off-market deals, the due diligence process, and other related topics. Thanks!

@Evan Polaski such a great answer! thanks a lot.

thanks everyone, these are very helpful!

@Abel Curiel thanks for the fantastic insights! I'm planning to be fully hands-on for our rentals. I'd like to hear about brandon's recommendations for managing rentals. Thank you so much!

Hi everyone,

I'm under contract for my first multifamily deal in NJ. My husband and I are planning to live in the first floor while we want to rent out the second one. do you have any tips how to market the property and more importantly, how to screen tenants? I know that BP has some tools for tenant screening but would be great to hear your experiences!

Thanks,

Beste

Hello everyone,

I'm in search of an experienced real estate CPA who can assist me with tax matters. I've reached out to some well-known names, but they aren't accepting new clients for the 2023 returns. If you have any recommendations, I would greatly appreciate it. It's important for me to work with someone who has experience working with individuals with Real Estate Professional Status. Thanks.

Hi everyone,

I'm considering putting an offer on two properties located in Union City, NJ, and West New York, NJ, for rental multifamily investments. I was wondering about the rent control and eviction process in these two areas. If anyone knows how I can find the most accurate resources or can share their experience, I'd really appreciate it! Thanks!

Hi! I'm relatively new to flipping in the US and don't have much experience with estimating construction costs.

New flippers, how do you solve this challenge? Do you bring a general contractor (GC) every time you do a walkthrough and get different bids during the inspection period? If yes, do you pay (and how much) the GC for the initial walk?

I would love to hear your insights! Thanks.