All Forum Posts by: Jason Yarusi

Agreed, trulia crime watch is really spot on.

I've committed to buying multi-families in Newark and @Jorge Borges is spot on that Trulia Crime map is a great tool and once you have your areas locked down visiting the street and looking both ways on the block for other boarded up houses and just a feel for the neighborhood really gives you a leg up. Properties move very quick in the right areas here but there are many areas where you can buy great properties and make nice affordable units for renters you just have to be specific for what you are looking for so when it comes up you can be the first one in. 

Hugh Ayles you are correct on that. Texas verse NJ doesn't change those parameters

Hi Lisa Serme nice to see another member from Westfield. I am buying in NJ and Indianapolis right now. Don't know about the Orlando market but happy to talk about these markets.

That's great! Congratulations !

Call a few brokers and ask their opinion on this. Did you buy it in your name. If so a policy for you would cover fire and theft , are you doing the work yourself? Or hiring contractors? If hiring then their insurance would come into play for the rehab portion of their work.

Hi Sean S. If you are hiring anyone past the GC you would be the GC because you are basically hiring subs to complete the work. Also if you were to ever get in a legal dispute you would need to be careful because even though you are hiring a supposed GC since you are hiring another sub it would break that chain. If I were you And you don't want to be a GC I would hire the GC and have them hire directly the sub of your choice even if they are just passing along checks. Some GCs may push back on this but that's because they may generally mark on top of what that trade is doing, which in places is justified. An independent contractor does not relate here as that could be a doctor, or lawyer or someone who you pay but can't dictate how the work is done. A sub you can.

Zachary Bronder there's people who make their career in real estate never using their own money or money from banks to buy real estate but leverage other people money to do so. So not having the funds can be a blessing because it makes you look at all ways you can get into the action.

General rules of thumb but not area specific and in NJ areas where you get the 2% rule generally come with a rough neighborhood so it depends your buying strategy.

Hi Michael

I was just speaking with another investor on this very topic the other day and @MichalNoto hit the nail right on the head. You need to go to the smaller banks, preferably if you drive by a bank and have never heard of it before thats a great place to start.