All Forum Posts by: Chinmay N.

Hi, Meghan,

I am looking to invest in single-family multifamily (preferably 4-unit) properties in NJ and outside. Please add me to your buyer's list. Thank you.

Originally posted by @Peter Tverdov:

Originally posted by @Nick Sansivero:

@Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

Hi, Nick, Peter, 

I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

34 here and 0 properties yet. Looking to buy my first property this year. Want to learn teh ropes and scale up but gotta make the jump first.

For the experienced investors here (those with single digit doors), how much did you prioritize good schools/neighborhood scores when buying a single family / multifamily for investment rental?
Also completely unrelated, has anyone borrowed against they stock brokerage accounts to put down payments instead of selling stocks/other assets to get cash? Anyone has experience with buying real estate with self directed IRAs?

Originally posted by @Jonathan Paul Shortt:

@Chinmay Nerurkar

This property I bought actually was through roofstock. And nothing against them at at all, the process was very easy and they were very upfront and honest. The property had been rehabbed and rented by a local provider in Missouri.

The problem for me is any turnkey house has to provide profit for so many people that your returns are diminished because your price is including all the profit it needed to build along the way.

Turnkey is fine, I just can get the same returns as turnkey in the stock market, or I can get exponentially higher returns in BRRRR or STR.

Thanks!

Thanks for teh reply.. that was helpful. When you say STR, you are refering to picking your own property on MLS/Realtor/Redfin and putting it out fro rent after rehabing it if necessary. Is that correct?

Originally posted by @Jonathan Paul Shortt:

30, bought my first last year from a turnkey provider, wont do that again. Have one short term rental and closing on a second in September when it is finished being built. Currently rehabbing a brrrr as well. Will continue to buy STR and use cash to brrrr in my backyard. Goal is to have 20 properties by the end of 2021.

Thanks for posting!!

Do you mean something like Rookstock when you say turnkey provider? Can I ask why you wouldn't buy from a turnkey provider again? 

Originally posted by @J. Mitchell Bernier:

I will be 29 this September and I have 18 units. All are in a partnership that I have 50% ownership of. Started two years ago with a three SFH. All mine are SFH except for one duplex. Hoping to continue the growth and be at 40 units by 32.

That's very impressive. How did you fund 18 units within 2-3 years (even with teh partnership)? Did you have the capital saved up? Even with teh money how did you scale? What was your process to acquire and rent?

@Joe Martella that's interesting. What all do you get to deduct with milage on your taxes? Just gas and car expenses or the value of your time too?

@Nicholas Aiola Thanks for summarizing it so clearly. I'm curious if the taxable income in this case is just the cash flow (rent - expenses) or the whole rent before deducting expenses? I thought the whole rent rec'd. from the tenant would be considered as your taxable income here. Is that incorrect?

I am an Engineer in NY/NJ area. Looking to get into REI :)