All Forum Posts by: Angelo Mart

New Jersey market has caught up with NYC as an overpriced area with minimal investment opportunity unless you head to the far south end of the state. I am about to head out of here for future investments

I love investing in distressed areas but this is one area I personally would never invest. Some of the highest property taxes in Essex County, High crime rate along with the lowest rent in Essex County. This area is not in transition or "Gentrifying" they said that 15 years ago and nothing happened. However, I do know investors that have and will continue to make money off cash flow because they purchased low enough where the property taxes had minimal impact. You are much better off in Elizabeth, Newark or EO

Gov Cuomo and Mayor Diblasio are Socialist scum bags. I pray NJ does not inherit any of these laws

I have good guys that cover that area

This could be a very lucrative and recession proof business, however, you need to learn all the laws and rules in NJ. I would suggest joining the POANJ (Property Owner Association). They are the most beneficial group to join for anyone in this field. They are headed by a very experienced law firm and can teach you more than anyone else and get you to network. Also, utilize the most up to date rental software you can find 

A friend of mine had gotten scammed into THOUSANDS of dollars worth of nonsense FB meetings and seminars. Its really sad how they SCAM people

I literally just purchased a foreclosure 3 Family in same condition and built in the 1800's. Unfortunately most homes THAT old have grandfathered building codes and therefore can not be changed. I suggest having inspected by multiple contractors maybe even structural engineer to provide advise on how to add additional support. If the home is completely gutted and opened up it will look like a can of worms behind those walls due to the ancient building methods. Most of which are not even worth changing (unless it is rotted). Most of the time it is typical ground earth settlement at some point over the past 200 years that is not hazardous and impossible to reverse. 

I am having same problem and spent about $2,000 adding additional support beams throughout each floor after we gutted. According to my contractor "the home is structurally sound now" and the leaning/sinking area of foundation is typical settlement that cannot be reversed

Hope this helps and hope my home is safe lol

Check your lease, I believe mine has a death clause in it

I contact the listing agent direct. In todays market you MUST be competitive and offer the listing agent this incentive. Its the only way I purchase homes now in this low inventory market we are seeing

And today is Tuesday....