All Forum Posts by: David Da Silva

This is definitely an area I would recommend you do not tread. Disarming gun owners may put you more at risk of a legal dispute, and I do not see any benefits you can effectively gain from this.

+1 on cameras, they not only serve as a form of evidence, but they also serve as a deterrent. 

That name alone sounds sketchy.

Also, Texting? Thats another red flag for me. Most people would call or email with more information.

If they bring up PayPal or preloaded credit cards in the convo, turn around and run the other way.

Property taxes are the killer in NJ hands down. Our state has a unique "art to buying" if you would, when it comes to finding the right deal. The most effective strategy from what I can see is purchasing multi family properties to offset the cost, OR a single family that is taxed lower, but will yield high rents because it is in a highly desired location. 

I'm in Bergen and Essex County -our taxes are typically anywhere between $7k-$20k+ depending on size/location etc. 

On the upside to that I will say that NJ is a targeted commodity state for New Yorkers, particularly Northern NJ. I am seeing an influx of NY workers that are moving here because they realize we have benefits of convenient transportation and a more spacious environment that meets the quality of living some would prefer as opposed to an overcrowded high paced environment in the city. Keep in mind the rent prices in Northern NJ are quite high as well vs other locations. You can expect 1500-3500 per mo for most 2/3 bed apts. It's all about finding the right deal.

There is one key factor that also sweetens the deal: Appreciation vs depreciation. Although generating positive cash flow should always be the primary source of profit, you can almost be sure that NJ property will consistently appreciate over time and there is much less chance of devaluation compared to more rural areas. I'd be willing to bet that the right areas will appreciate rather quickly, and if your strategy is leaned towards buy and hold, this is a major pro.

I see it this way, it's much harder to find property that generates positive cash flow in NJ, but the potential profits also make it more rewarding as long as you find the right property to invest in.

@Kevin Pereyra

Glad to see you got on bigger pockets! Keep listening to the podcasts, and engage with others. I'm learning so much from lots of great people here and I just started as well. 

Now get a picture up!

@Judy Parker

Thanks Judy.

@Jen Narciso

Excellent! Essex county is a great area for investment. I just added you.

Anyone else please feel free to add me! 

@Leury Pichardo

Thanks for the encouragement! Every bit helps. Congrats on passing the exam by the way. I'm sure we can all agree that the right amount of knowledge can open doors we never thought were possible.

@Andrew Martinez

Thanks for the kind words. Glad to know a bit on your background. The auto industry has a ton of networking possibilities -definitely one of the perks of our market. 

Florida is an awesome area to invest in, I would be lying if I told you I haven't looked there myself! That will probably be one of the areas I plan to branch out to, but for now I would like to cover my bases locally. I'll add you as soon as I finish typing this. 

And yea, let's chat a bit, I would love to know what you have going down there. 

@Johnathan Boyle

Hey John! 

I wasn't expecting to see a familiar face this fast, it's a small world I suppose huh? How is everything going with you? I haven't seen you since high school. Glad to see you are plugged in to the world of real estate. 

I'm a huge fan of the FHA/203k loans, it allows for a broader range of possibilities with more leverage & less money down, especially if you have a good contractor in your network. As for now I'm keeping all options on the table as each one has pros/cons respectively. I'm prioritizing cash flow as opposed to just appreciation since NJ (especially the northern region) is historically known to appreciate in value regardless of location (for the most part). Working in the NYC metropolitan area definitely has shown me the value of what you can call our "niche market". Many people are moving to NNJ since they realize the value they are getting vs putting up with the costs in the other boroughs of NY.

I would love to catch up with you chat a bit sometime. Maybe we can meet over some lunch?

Anyways, thanks for the encouragement! 

Hello ladies and gentlemen of Bigger Pockets.

My name is David Da Silva

I would first like to say that I'm very excited to be a new member of this awesome community. I look forward to meeting local real estate enthusiats and chatting with many more on the forums. I'm located in Northern NJ -specifically Bergen and Essex County.

For as long as I could remember, I always had a strong desire for creating/developing businesses as opposed many of my friends that were satisfied with their 9-5 jobs. I can always appreciate the the concept of working "smart" instead of just working "hard" for money.

Like many people here, I read Rich Dad Poor Dad, and my whole thought process on finance was changed by the idea of generating passive income and using debt as a tool for business! I believe that now more than ever investing money properly is the key to financial success. I have dealt with other forms of investment such as 401k, stocks, forex, and hedge funds, but believe me when I tell you: I am now hooked on real estate!

I ran into Bigger Pockets in a search for more info on real estate. I was blown away by the resources shared on this website, let alone the podcasts (I'm already on BP episode 71, the content is simply staggering).

I currently work for an international parts importer in the automotive industry under the title of Account Sales Executive. I deal with accounts all over the Tri-State area which have allowed me to familiarize myself with other potential markets that show promise. I deal specifically in B2B relations, and my experience in this field has allowed me to sharpen my effectiveness in closing deals and creating successful business strategies in a competitive environment. 

I hope to share some of my skills with you, as I'm sure you guys will be able to do the same along the way. 

As a new real estate investor, I plan to start off with a small multifamily (the taxes in NJ are treacherous) since the additional rent will help to offset some of the expenses. I like the buy and hold strategy, so I think that will be the route I plan on going with. 

I'm currently looking to get my realtor license as well and perhaps saturate myself more in the realm of real estate to gain more experience. Any help, critique, or advice is gladly welcome!

Hopefully I didn't bore you guys with my blabbering.

Anyways, looking forward meeting more of you guys.