All Forum Posts by: Hanna Ryeng-Pezzillo

@Tamir Nachum 

Im a investor in Newark and Irvington, and I def understand your frustration. my conclusion is the market is alil bit crazy hot over there and people out bidding themselves out of profit, just go to the essex county auction and you'll see how many houses are back on the auction block being forclosed on by hard money lenders. I personally only deal with flips in the area and with newark anything is possible from window break ins to stolen copper pipes that you just placed 2 weeks ago. so i like to leave atleast 50 to 75k profit on a property and finding that right now is extremely hard but yet possible. 

Toms river, how ever is a much better area in my opinion because u can do a flip from december to jun which is pretty much the average time on a flip anyways about 6 months and hit the hot summer market and sell within a day or 2 

Granted all of my flips in newark would sell in 1 day, 10k to 15k over asking no matter what the season is but in my opinion those days are over very shortly. and trust me u don't want to own a house in newark (certain parts) vacant for very long.

Also being a contractor and investor i heard some horror stories in Newark with people renting.  I think for the same 200k youll be spending on a newark multi-family your better of looking into woodbridge,perth amboy,clifton ,toms river.  just make sure your taxes are good and you still cash flow positive.

Newark 2016 id tell you to buy all day long, Usually i was paying around 30k to 55k for what ever home i wanted multi or single now same homes going for 145k to 210k. (MIND BLOWING THING IS, PEOPLE ARE STILL BUYING)

@Jason Tressler block by block its not terrible from what i seen. Personally i think u can find good tenants in any neighborhood. What do u think of guilford st? good block? i def think there is a lot going on and pretty nice house values  

@Zach Hoereth Yea My home in that area is on S reisner st. small home but ill see how it does. my other 2 are on guilford in the 46205 zip code and those are very well homes with decent equity value. 

@Andrew Davis Im right on the border of 46218 and i don't think its that bad of a neighborhood at all, thus far iv been managing the properties myself not a big fan of PM companies but if u can suggest one that wont be a bad idea to look into one def would make evictions easier if need be 

Indianapolis.... Most Confusing market to understand for a New york investor but like most mid west states. There no particular bad neighborhoods such as in NY. Mostly its just a bad block and then a good block right next to it very block by block.

BUT.....

I have come to realize 46218 zip code is a more of a tougher area but also a lot of investors theres as well. (correct me if I'm wrong)

46201 being a very popular one with it being just east of the city, problem i see here is the house values are between 50k to 90k on duplex homes and rents typically being around 600 to 700 a month. 

Anyways i have purchased one home in 46205 zip code right on the border of the 46218 zip code and tenants are great (so far) house appraised at 145k and i payed right up there because i got 1 more house for pretty much pennies on the dollar (bundle deal) 

The other properties are in the west side/ smaller homes and 46221 zip code.   

In my opinion i would say most of the neighborhoods and zip codes i just listed excluding 46218 are B- to c+ neighborhoods 

Do u guys agree with me because I'm already working on more and more deals in indianapolis and so far prices seem right and tenants seem to be all good as well but only time will tell . If your a experienced Investor in buy and hold in Indianapolis is there certain nieghborshoods u would stay out of?

Thank you 

Hanna

@Ned Carey Ya I'm trying to get properties using a different way. 

Reaching out to pre-foreclosure and all just not really comfortable with doing all that had success using MLS before but now its just not something where you can get a decent deal. In my area even the auctions are saturated. but i will be hitting the phone and seeing what i can generate

Hello 

Been Investing and doing flips for a little while now. Have over 100k in the bank of liquid cash and figured id take the leap and go into being a full time investor its been 2 months now after my last flip and i cant find a single home in my price range in the Newark NJ market to get my hands on. 

Anyone ever feel over whelmed about the time it takes in real estate and do you question yourself everyday if your making the right move?

If anyone knows of any other areas to look for properties in NJ to flip right now, would be great if you can point me in the right direction. 

just feeling so stuck right now  anyone else ever feel stuck?

Hey hows it going guys 

Im a real Estate Investor in New york and New jersey been doing good since 2015, been following bigger pockets for a while just didn't ever sign up and then i realized. How dumb i was being so here I am. 

Well heres my question any Investors here in Indianapolis IN? since the NJ market and NY market really pushing me away with how high the market is. 

So basically i went to IN twice chose a couple of good areas and now Im purchasing 3 homes (duplexes). There fully rented i met the tenants they seem really good and have been there for more then a year. 

Do you guys have any have any experience with renting in IN? 

Thank you guys in advance 

-Trio estates