All Forum Posts by: David Vitarelli

@Jason Sanford “good investment” is a relative term. I know people that 8% per year off their investment and I know people that make 300% per year off their investments. Both believe they are in “good investments”....and here’s the thing, they are both right. The vehicle you the choose to invest in should be a reflection of your personal risk tolerance and capital position.

As a newbie, it would not be prudent to jump into land deals needing subdivisions for new construction. It is a smarter move to begin with a much more manageable investment like a single family or small multi family rental...in my personal opinion.

The important part is that you are planning on putting your money to work for you...

@David King

@David King drop me a line anytime. My email address is in my profile signature, I’d be glad to chat with you.

@Luke Bonus it does indeed have potential. In fact, a deal came across my desk today that was very appealing. It’s a $55k 3/1 assignment deal. It needs about $5k to be rent ready, then it will rent for $1,350. There are lots of deals like these right now. It’s a good time to be in Gloucester City. Let me know if I can be of any help. 

@Taylor Whylings glad to help! It looks like we are in the same area. Feel free to drop me a line anytime! 

@Stephen Kappre there are many areas that are often overlooked because of the general misconception that “taxes are too high in NJ”. I personally manage a portfolio of 25 properties in Gloucester City, for one of my clients. The average purchase price of a 3/1 in Gloucester City is $60k-$70k. Average property tax on a property like this is about $3k annually. This client has zero vacancies, zero evictions and collects an average rent of $1,250 per month. Depending on how the property is financed, the returns can be very attractive. Additionally, there are many other towns in this area that yield similar returns. DM me if you want to discuss further. 

@Tina Gao there are many areas in south Jersey that are yielding very attractive returns, with relatively low risk. DM if you are interested in discussing further.

@Trevor Ierien start with checking out www.narpm.org . NARPM is an organization that sets the bar for many of the industry standards. Aligning your interests with a company that is a member is a good place to start.

@Taylor Whylings first, let me say, I am not a tax professional. You should definitely seek council from your CPA. That said, it is my understanding that if you sell an asset that was owned less than 12 months, the profit is subject to tax rates as “ordinary income”. However, if an asset is sold after owning it for more than 12 months, the profit is subject to long term capital gains, which could be between 15-25 per cent. Your decision should be dependent on your future plans. If you plan to get right back into another deal that may yield greater returns, then, paying the higher tax rate and selling immediately may be justified. If however, you don’t have an immediate play in mind, maybe holding onto it for a year or two, getting some rental income from it, then selling it a year or more from now, may make more sense. Both ways work!

Hi Alex! Your post caught my eye. I own a property management company that operates in NJ. I propose we  schedule a call next week to discuss. DM me if you have interest. All the best! 

Hi Vik, I own a property management company that operates in NJ. If this is where your properties are, and your open to having a conversation, let me know. We can schedule a call next week. All the best!

Hello Steve, I’m interested. I’ve sent you a PM.