All Forum Posts by: Lindsay Op de Coul

Check out SJREIA!

Hi Dominic, we manage short term rentals for investors in Monmouth and Ocean County. From what we have seen Point Pleasant Beach does pretty well, although the market is tough right now, so it really depends on what your goals are. For example, we are working with one investor right now to purchase a STR but he is not as concerned about being cash flow positive since the house is also for personal use. So whatever income is generated from renting it, is just icing on the cake.

We like PPB because of its 7-day minimum (not to get mixed up with Point Pleasant Boro that has a 30-day min).  The price points of the houses are lower than a town like Bay Head, but the rents will be the same so you will see a higher profit margin.

Hope that helps at least a little!

@Daniel Kosciuszko, I sent your question to one of our group of investors (who have a 100+ single family home portfolio).  Here is what they shared:

"They need to talk to a lawyer to make sure the agreement and LLC are structured properly. The operating agreement for an LLC will need to be clearly written out stating how much money each of them will be putting into the deal, how the profits will be split, and who is responsible for managing the project and needed to sign off on financials.

They should also discuss with the bank that's doing the financing in advance of the agreement being made, because the ownership structure of the property/LLC will determine the kind of financing available, the interest rates, and who needs to sign on as guarantors for the loan (typically any more than 20% ownership by one person in an asset can require a personal guarantee on the funds in the case of foreclosure or loss of the asset)."

I hope that is helpful!

I took CJREI.com and had a fine experience (able to pass on my first try).  Its completely online and very flexible schedules.

Best of luck!

Hi @Joe Capobianco I work for a real estate investing services company and one of the things we do is property management in NJ!  I forwarded your question to our Broker Owner/President who oversees our Property Management and here is his response:

"First part of your question about how much their income is and what their credit score is, yes you should absolutely find out. We treat every tenant the same whether they are section 8 or not. Everyone needs to verify their income and their credit. This way you have a full scope of the person you may be renting to.

As for the amount you may receive, this depends on the tenant. Depending on their situation, employment, children, etc... will dictate how much the program will cover. Sometimes it is 100%, then sometimes they pay a portion and sec 8 covers the rest. They will have a case worker you will work with so you can fill out the paperwork as the landlord. This way the rent comes directly to you. It does not go to the tenant first, it always goes directly to the landlord. Make note that if the tenant's situation changes the amount covered by section 8 can change too."

We hope that is helpful!

I am originally from CA, but the Bay Area.  I have a friend who is an investor-friendly agent (also in the Bay Area), but he may have some recommendations for LA.  He is always open to connecting with people.  You can check him out here: https://dariusmcclelland.com/

If you can't find anything on the city's website, then call the city.  That will be the most reliable.

Hello! Would anyone be interested in a STR investor meet up somewhere in Monmouth/Ocean county new jersey?

@Jeff Tanner @Anthony DiSanzo

Hello @Anthony DiSanzo!

We have some experience in the STR market in Monmouth and Ocean county. I would be happy to share some insights with you if you are looking to invest.

Our company is also considering doing a webinar on STR in this area and what we have learned as investors ourselves and also property managers. Would you be interested in something like that?

Well done! @Vignesh Kumar Subramanian