All Forum Posts by: Angelo Mart

Done hire GC, GC the deal yourself. The GC will inflate the subcontractor costs to make money on you. In the end, the GC will make all the money and your time, stress and money will earn you peanuts

Call lawyer

I see you are from Livingston NJ, I am own a real estate firm in East Hanover. I currently perform real estate appraisal work in both Morristown and Montclair frequently. Both market area are currently horrible for investors. If you are banking on appreciation you are in the wrong business. Both of those towns are extremely maxed out on appreciation and I do not see either one of them increasing anymore. If you purchase now in hopes of them appreciation, odds are you will be paying more than they are worth with minimal cash flow and HIGH taxes. The upside is if and when it is paid off you will be sitting on a solid piece of property but that is 30+ years down the road. Cash flow month over month but very low property value seems to be a better approach East Orange is a better bet, sounds crazy but i know investors that purchase cheap East Orange, rent to section 8 and cash flow strong. Overall, North Jersey is no longer a good investment. Way too inflated, no cash flow, high entry barrier = bad deals. I own a few rentals in North Jersey I purchased during crash, at this point I am looking aggressively out of state

The NJ market for Multi Family is NOT good right now. Unless you head south to Trenton area which is still cheap AF

Whats up bro. I started investing in Paterson which is a great investment. However, the real estate (especially foreclosures) is so overinflated that the numbers no longer make sense. I have been looking out of state also. I spoke to an investor from jersey that also started in Paterson and ended up going to Baltimore as well. B'More has some rough areas but if you do your research I am sure you will find much better opportunities than in Jersey. Best of luck

I always rip it out on my buy and hold properties. However, i had no other option as all the electric sustained water damage either way

I have been a real estate appraiser within NJ for 14 years. As far as flips go, yes you can make money but for Buy and Hold it is very difficult right now. I am seeing homes sell for higher than the peak within some of the worst areas of Newark and Paterson. It can't go any higher!!! And yes obv we are not caught up with NYC in regards to raw numbers but based on year to year appreciation we are in the same bubble (which is what I meant)

I am not an attorney but this could be a violation of fair housing if you list it and target LGBTQ due to the fact you are marketing to a certain community, thus, people of the non LGBTQ community could feel Discriminated against....

LEO is not entitled to a discount. However under certain conditions they are at times..... 

My mentor owns a large apartment building in the heart of a complete ghetto. The building is overrun with drug dealers, dope addicts and gang members. The complaints from tenants were so bad he offered local police "Free Rent" for one year in order to bring Police Presence into the building with the hopes of reducing crime complaints. That was in March of 2018 and as of today no officer has accepted the offer lol

If it is stated in a past mls listing the appraiser could question if the new investor has repaired this issue or use that info to justify the variance between the prior low price and current higher appraised value. Overall, it is beyond the appraiser's scope of work or expertise to mention a foundation issue without a proper report from a structural engineer or contractor