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All Forum Posts by: Angelo Mart

Angelo Mart has started 12 posts and replied 368 times.

Post: Rent Control is Finally Coming to Sacramento

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

Ahh the liberals strike again

Post: Can’t get investment loan without owning a house?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

That is complete BS!!! Loan officer is a typical scam scum that is coercing you into purchasing a SFR and not continue to rent. I rent my townhouse and own 6 multi family homes...just saying

Post: Life has gotten in the way

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

Great work I love to hear stories like this. I tell my wife that it takes long hours, nights and weekends of studying and reading to succeed at this game. It the people like you that make it

Post: Life has gotten in the way

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

I know its tough but stick in there. Read the bigger pockets books when you have a free minute i.e. lunch breaks, toilets breaks, before bed etc. Also, most important study the hell out of the market you want to invest. You can look at properties on internet as a hobby on spare time. Eventually it will click. Dedication to the journey which does not happen over night

Post: Newbie here– is my property manager taking advantage of me?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

I had to fire a property manager last year "aka" terminate contract based on cause. They would lie, cheat and steal. Complete scumbags. Make sure you obtain photos and receipts of everything. Make them sign a contract

Post: Do you recommend starting an LLC?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261
Originally posted by @Kyleigh Morgan:

I have a plan to start a real estate rental company? I haven't even purchased my first property. Do you recommend I start an LLC before I start? What is the benefit of forming an LLC? If it is not necessary or beneficial at this stage, when will it be? Thank you!!

Whether you start and LLC now of later down the road after you purchase an investment, you should def do it. All my homes are in an LLC and always will be. This was the advise from my dear mentor that always swore by this. He past away last year handing down a wealth of knowledge to his students and MILLIONS of dollars in assets to his family. I think he knew something

Post: Are there any investors who started in 06-07?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261
Originally posted by @Nathan Hui:
Originally posted by @Mike Dymski:

I started in 2004.  I bought in good locations and my rents actually went up a little in the last recession.  Real estate is very local.

All economic recessions are different though.  The last one was accompanied by a housing crisis, which buoyed the rental market in many areas (continues to this day).  That may not happen with the next recession.

I am surprised your rental income increased. I can't make sense of that. But it is somewhat reassuring that rental rates can remain isolated from economic downturns. 

Rental rates got stronger during the RECESSION because less and less people were not qualified to purchase homes due to STRICT underwriting, thus, creating an over supply of renters = increase in rents 

Post: Section 8 Housing Pros/Cons

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

Section 8 is the BEST!!! The only downside is the annual inspection of the unit which is annoying. Some tenants complain, but don't they all. 

Post: Section 8 Tenant Late fees NJ

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

I should know the laws regarding late fees since I have Section 8 Tenants. Either way I hope you NOTIFIED the Section 8 office of the eviction

Post: How typical are non-paying tenants in lower economic areas?

Angelo MartPosted
  • Professional
  • Parsippany, NJ
  • Posts 384
  • Votes 261

Section 8 ALL Day Everyday. The Federal Government pays your rent direct deposit every month. Its a no brainer and I love it