All Forum Posts by: Mark Scarola

    **UPDATE**

We will be tentatively meeting in room number 241 (see map from original post), which is on the second floor of the Bankier Library at Brookdale Community College. I say tentatively because it's first come, first served as far as study rooms are concerned. Advanced reservations are not allowed. 

If we are not in room 241, there will be a note taped to the inside of the corner bookcase nearest room 241 indicating where we'll actually be. We may need to move to a nearby classroom. Please do not ask the library staff where we are. They will not know.

If we are colleagues on BP, I will privately send you my cell phone number on Wednesday (just in case).

I agree with @Will Barnard's comments. Personally I prefer a community or regional bank, something that's big enough that they have more than one location and some of the bells and whistles, but not so big that you're just a number. When I have a question or need something done I can get in touch with a specific person and am not limited to calling a call-center in the middle of who knows where.

But as far as security deposits for tenants, yes it's a good idea to keep them in a separate account. When I first read your post I thought you meant "deposits" in general, not specifically security deposits. You don't want to take any chances on your tenants' money. In fact, I'm not positive about it since I'm not a landlord myself, but you might even legally be required to keep them in a separate account.

@Account Closed  has a good point about looking for different perspectives. It's only natural to seek out people that have a similar personality to our own, but when you're forming a business team there are advantages to having people with different backgrounds and different styles. 

For instance, if you're a quiet and reserved person you might not jump in the direction of someone who is very outgoing and social. But if they're in marketing or sales then that might be a good thing. Or if you like to surround yourself with outgoing people, you might miss out on an excellent partner who excels at doing research quietly and alone.

Hi Ben,

Good question. I can relate to the whole analysis paralysis thing. I've spent years studying and self-educating only to watch potential opportunities pass by. It's tough to take that first leap and get that first deal done. 

For that reason if you can find the right partner, having someone to keep you moving forward when you start getting nervous might be a good idea. It can also give you the confidence that you're not overlooking something. Nothing says that you have to have a partner indefinitely or that you can't do some deals on your own and others with someone. But if you're the kind of person that needs a "boost" to get that first deal done then a partner may be right. At the same time, it sounds like you're well on your way already.

When it comes to partnering, having the right partner is more important than just having a partner. If you have a good attorney you trust to review the paperwork and answer any questions you have, you could always finish this deal alone and then consider partnering on your 2nd deal just to compare the process with and without someone else. That also buys you some time to find the right partner and not just someone who's available now.

Have you followed up with him since your post to get his reaction? Hopefully you're non-circumvention contract would protect you if need be. But is there anything that says he can't do some deals with you and some on his own with say his own separate company?

Happy to have you each planning (or trying) to attend. More information will be posted as we get closer to July 10th.

Thanks for the tips. I have seen the recent posts about having a Central Jersey meetup and have posted there with a link to this thread. 

As far as the themes you've noticed in other meetings, I appreciate the feedback. There will be no marketing, no selling, no soliciting, etc. so that shouldn't be an issue. We'll also have an agenda, though because this is our first meeting it will be a bit informal and light. In addition to introducing ourselves to one another one of the main things I'd like to accomplish is having a discussion about what types of agendas we should have going forward. So if you have some ideas or suggestions, be sure to bring them with you.

@Mark Houghton  @Justin Fraser   @David T    @Chris Wosnitzer 

@Troy Weygandt  

For anyone who may be interested, I'm putting together a Central Jersey meetup that will take place on July 10th. Details below:

http://beta.biggerpockets.com/forums/521/topics/134144-central-jersey-jersey-shore-meeting

@Bryan Nevin  @Stephen P. 

For anyone who may be interested, I'm putting together a Central Jersey meetup that will take place on July 10th. Details below:

http://beta.biggerpockets.com/forums/521/topics/134144-central-jersey-jersey-shore-meeting

Overview

There's been some definite interest from a number of people here about setting up a meeting for those of us in New Jersey who are not in the Northern part of the state and who aren't looking to always travel into New York or Philadelphia. So let's make it happen.

As this will be the first meeting of this group, we'll keep things short and have a limited agenda. We'll introduce ourselves and talk about what we would all like to get out of the group so that going forward we can plan accordingly. We'll find out if we have a bunch of beginners or a bunch of veterans, who's interested in education vs. who wants simply to network, and what areas of RE investing each of us are interested in.

Location

Bankier Library at Brookdale Community College

765 Newman Spring Road

Lincroft, NJ 07738

Directions: http://www.brookdalecc.edu/about/maps-and-directio...

Map of 1st floor: http://ux.brookdalecc.edu/library/pdfiles/1stfloor...

Map of 2nd floor: http://ux.brookdalecc.edu/library/pdfiles/2ndfloor...

Specific Room: TBA (we'll be in one of the group study rooms shown in the maps)

Date & Time

July 10th from 6:30-8:00PM

More On The Location

While in Lincroft this time, the location will likely vary so as to be fair to everyone who has to drive. Generally speaking though, the group will focus on Monmouth and Ocean Counties. However we will remain open to a larger reach depending on interest from those in other counties such as Burlington, Mercer, Middlesex, etc. 

Also, if you know of a specific location in the area where we would be able to meet, please feel free to recommend it. I'm open to and looking for ideas.

Planning to Attend?

Please indicate below if you're planning to attend. We may need to relocate to a larger room depending on how many people will be there. I'll also provide my number privately to all those who RSVP below just in case you're running late, can't find us, etc...

If you would like to attend but cannot because of either the day or time, also please let me know. Again, depending on the group we may be able to make some adjustments going forward.

I thought the same thing as @Michaela G. with the yellowing look of the counters and walls. It may just be the lighting of the picture, but even if you can't make more space you can at least try to brighten it up.

Or depending on what's on the other side behind the sink and how much effort you want to put into it, you could also put in an opening like in this picture. You'd have to work with the layout of the cabinets... but that might help it not look so enclosed and confining.