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All Forum Posts by: Angelo Mart

Angelo Mart has started 12 posts and replied 368 times.

Post: How do you monitor your contractor 2 states away?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

I can't even keep on track with my contractor working on my project 15 min from my house. Its easy, tell him that if it is not done by a specified date you are calling your attorney. Or you can be a real mean and report him to the state licensing commission for Negligence, violating the agreement and misrepresentation or whatever other BS you can come up with to nail him to the wall. These guys will bleed you dry its insane.

I just had a roofer do half my roof and leave the other half unfinished with large holes in it. One week he couldn't come because his truck broke down, next week it was the bad weather and every DAY it was some other BS. This past week we had perfect weather and he never showed. I told him very clear that if he does not finish the roof within the next two (2) days since we were having perfect weather in the forecast, I was going to call my attorney. He responded to me text immediately and finished the job within 48 Hours. Its unfortunate and makes me feel terrible that i have to do that but there is no other way. Contractors are NOT out for your best interest

Post: Renter has money but won't pay - Cash for keys / eviction advice

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

"So far they've been good renters for 8 months and I've been a good landlord; so I'm not sure why the sudden change" 8 months is not long enough, I have seen landlords evict tenants after 20 years  of renting to them due to NON-Payment. Evict ASAP. IF I don't get my rent by the 10th, I email my landlord / tenant attorney within 48 hours. Evict them and let them complain to the Judge in County Court. 

1. Trust no man but God

2. Never have relationship with tenants (my tenants don't know me from hole in wall)

3. They playing you like a violin

Post: Scammers and crooks

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

Sorry to hear that. Its sad to see new eager investors get taken advantage of and scammed by predatory business practices. Its hard to tell the real from the fake on the web. Its funny that the biggest and most powerful developers and investors I know are not even member on BG or any other social media platform

Post: Killing it by turning crack dens into safe housing

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260
Originally posted by @John Hickey:

@Will Barnard

Your first sentence is 100% correct. Yes what I do is high risk.

This is not a “hey I have a new investment strategy that’s fine and easy and anyone can do it post”

I do not suggest this for someone that is just getting started in RE. There are plenty of other folks this will not appeal to.

Although for the right type of person this can be your first stab at RE  

People that have specialized skills.  

But if you think your juts an average type, looking for minimal returns keep moving   

This is  not for everyone....although I personally think anyone can do it   

But not everyone will.

Unless they have stones.

The words i write here are not going to give some spineless loser the intestinal fortitude to walk down the most dangerous blocks in the world buy houses and turn crack dens into Disney land for hipsters.

if you have the stomach for what I do I will devote myslef to help you turn war zones into safe zones.

And if your tougher then I am have and have experience in this arena pls share your info.

I will return the favor in some way.

If not move one check out Zillow mls auction.com....cruise loop net. There are plenty of 5 caps about there......

This stuff I want to share is not average guy stuff.

You said.....

This is a high risk strategy that requires boots on the ground, lots of capital to back you and is not for everyone, particularly someone just getting started. It can also be dangerous, personally, I’m not risking my life just to make a buck in a cesspool, I can make money in better areas without the risk or headaches that come with this strategy. That said, I am certainly not discouraging you, just pointing out to others the risks involved. 

 I love this strategy. As long as the population in the city is stable and/or increasing it works great. I know guys in tough neighborhoods in Jersey that make a killing doing this. The first few years were the most challenging but within no time they made so much money that Security was no longer an issue. They always placed steel doors windows on the homes while under construction, rehabbed them, hired pro property managers to manage and also had armed security watching the apartments buildings if things got crazy i.e. drugs, gangs, etc. My first home was in a messed up ghetto area and this worked for me. The Section 8 tenants are great, its like an insurance policy getting the section 8 direct deposit

Post: Neighbor Says my Tenant is Berating Her and Her Son

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

This is exactly why my neighbors NEVER know I am the owner. 

Post: Six Bedroom one family Property in NJ

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

I know that area of Jersey and that Septic could be rough. Rehabbing these deals are tough and stressful. Best of Luck and keep up the good work

Post: Are there really this many bad deals?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260
Originally posted by @John Hickey:

@Angelo Mart is NJ higher then NY?

That’s nuts. I had a property that has tenants bought for 75k taxes taxes were almost 6%.... sold it bc taxes were killing me but as soon as I did they lowered basis and I learned my lesson.

Buy low, get down to that assessors office with the contract and grieve, grieve grieve.

YEs it is...When I did tax appeals for lawyers back in 2011 it was a proven fact that NJ was highest in nation  

Post: What Are Your Financial Interests Outside Real Estate?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260
Originally posted by @James Free:

I'd be careful about diluting BP's core mission, which feels like it's already started happening. Be the best at what you're known for!

Exactly brother. Its like the local pizzeria everyone loved that suddenly started selling Mexican food as well. Before you know it people stop going there in general. Like my mentor says "Jack of all Trades but Master of None" haha

Post: Newark Basement Apartments

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

Basement kitchens are not allowed in the City of Newark. If its a Legal 3 Family it is to be utilized as a legal 3 Family regardless of the entry/exit

Post: Best YouTube personality to watch for real estate investments..

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 260

Too many on youtube and its hard to decipher the real from the fake. I vetted a lot of them and feel that Phil Pustejovsky is the most knowledgable