All Forum Posts by: Joseph Guzzardi Jr

I am a landlord who works with section 8 tenants on my own properties. 

@Tina Lee Unfortunately you cannot simply, not offer a renewal for a tenant. Upon renewal you can try to have a candid conversation with them stating you don't see this as a good fit for the both of you moving fwd. But they may also not care and cause more trouble.

You would honestly need to define what trouble they are causing, tighten up your lease upon renewal to not allow whatever it is they are doing that is such a problem. Then if they are not following the lease it would be cause for eviction.

The tenant would have to be causing some sort of disturbance to other tenants, breaking the lease in some form for you to have any action to evict. And you definitely need documentation of all their acts.

Hope this helps

@Gabriel Santin Hey Gabe. I'm in the multi fam space and working with several FHA buyers at the moment. Happy to assist and answer any Qs.

@Scott Royer I believe your "maintenance costs" are going to be more closely related to your tenant based vs the home if you do all your proper DD for said property.  Sewer scope very important in the older homes, typically cast iron is present and its lifespan is about 80-100 yrs. 

@Janille Jackson I would find it hard to believe an insurance company would flat out deny coverage based on the age of the boiler, but I've seen stranger and more confusing things. Have an insurance broker shop for you, with that knowledge of the age of the boiler and that would be your best bet. 

@Brandon Cho start going to RE meetups, events, investment this etc.. Start building your network today. Don't wait.

Quote from @Jephte Augustin:

BiggerPockets has been pushing multi family hard in the last few weeks and I’ve caught the bug. The question I have is whether anyone is aware of the health of the small multi family market (5-20 units) in New Jersey, especially central and south Jersey? Are you aware of an increase in listings? Are there brokers here who wouldn’t mind sharing what they see from their point of view?

I have primarily been a buyer in the 2-4 unit space and now underwriting deals in the 10-30 unit range in NJ. Many are over priced and many owners still trying to sell at lower cap rates where at least for me it doesn't make sense to make a move if its fairly close to the int rate I would be paying. South NJ has better opportunity in my opinion from what I have seen in terms of bang for your buck. 
I'm also open to building relationships with these commercial brokers/agents in the NJ area. 

@Peter Tverdov I may have a bank/broker for you. I'll shoot you a text

@Robert Webb Atlantic & Cumberland counties primarily

@Michelle Garcia Hey Michelle. Out of my portfolio I have a mix of properties I hire out and properties I manage myself. Some of these properties are actually 2 hrs away from me in south NJ. Remote "managing" can be done however you are going to need a team of multiple vendors for each particular item for you to be successful.

In my experience, investing in certain areas of Essex, Atlantic and other counties, there are very few property mgt companies who actually do a good job. This reason in particular is why I'm going to be starting my own property management company in the very near future. I'd be happy to help guide you and be a resource for you.