All Forum Posts by: Damian LoBasso

Nice to meet you @Leo Chen.  Best of luck!

@Account Closed it's great to meet you as well, and you hit my hunch spot on.  I've had the "I can't afford Hoboken/JC/Edgewater/Weehawken" conversation more times than I can count in the last 3 months, and natural gentrification in this instance will only lead inland.  This, coupled with the fact that Harrison has poured nearly $200 million into building the infrastructure of its downtown region (not mentioning Red Bull Arena or the aforementioned Path station which leads directly to NYC) you have a strong candidate for appreciation over the next 10 years.  I also love how close it is to all of the universities in downtown Newark which will give students (primarily graduate students which also makes me feel better as there will probably be less weekday beer pong tournaments) easy access to the city on weekends and class on weekdays!

Hey Joseph.  Where in New Jersey are you looking?

Hey Gerald.  If you were looking to buy and hold, traditional lending would typically be your best bet, but many local banks are hesitant to lend flippers.  Are you able to ask friends/family for an investment and offer them say, 8% interest?  What are the hard money quotes you're getting?

-damian

Hi All!

I just wanted to take the opportunity to introduce myself as I've been an active listener and reader to the community, but greatly lagged in my contributions.  I'm currently house hacking a two family home in Union County, New Jersey but I'm looking to ramp up my portfolio while focusing on 2-4 unit properties in or around the Newark / Harrison area (I have a hunch this market is set to explode).

I'm looking forward to adding value to the community by not only posting about my experiences but also by offering accounting & bookkeeping guidance to those with questions as I also own my own consulting firm with a focus on real estate investors.  

Thanks!