All Forum Posts by: Marc Weisi

@Vaughn Smith  Much appreciated!

@Sri Yalam  I am no longer looking in this market but I'd speak to a bunch of the agents on this site. They're clearly focused on investors and you can ask to be included on their email blasts so you're seeing as much of the market as possible.

Downtown, Forest Hills, and parts of Vailsburg (Tuxedo Park for example) are nice as well as some parts of Weequahic.

@Gonzalo M. Trenosky    That's a shame, I know there's an affordability crisis and this seems like a straightforward way to get people into some housing.

@Matt Spangenberg  hahaha  what a blessing!  This is how I'll send my tenants rental payment requests from now on. "Privileged Rental Payment" requests.

@Yanhua Sappin   sending you a PM now.

I can tell you that a 10 cap is going to be nearly impossible to find in the LV area. I've looked at 50 deals in the past 4 weeks and none of them even comes remotely close to that. Are you including PM expenses in your #'s?

Can't weigh in on the first question, but on the second, we usually look on all of the common rental websites (Trulia, Zillow, RedFin, Craigslist, FBook marketplace, etc.) to get a feel for rents in the area. Also, you would probably benefit from reaching out to a few large property managers in the area and asking for their opinion on rental rates for your class of asset.

As an investor in Newark, the city is offering to cover the replacement of our pipes for a $1,000 fee should our lead test come back positive. We're still awaiting test results on the lines, but I'd urge other investors to look into this option as well--see below link. 

https://www.newarkleadserviceline.com/program-overview

@Samuel Pascal  While I don't necessarily need your services, I wanted to applaud you for putting yourself out there in order to learn/develop your understanding in this space. BP is a great place to find potential mentors and I commend you for foregoing your free time (and the chance to make money elsewhere) to do so. That mentality of delivering value to others first will serve you well over the long run. Short-term sacrifice for long-term wealth! Also, I'd urge you to check out a few real estate investment meetups in your area. They're a great place to find investors that may need your help and from whom you could in turn learn from. Way to go and best of luck!