All Forum Posts by: Alexander Szikla

I too own in Elizbeth! The appreciation has been great there, but yield is too compressed at this point. I think the entire Harrison, East Newark, Kearny corridor is worth a look if you are a long-term holder. 

As an active investor and agent in New York and New Jersey - let me say, I've "seen this movie" before. 

2001 - 9/11 - New York is dead

2008 - Global Financial Crisis - New York is dead

2020 - COVID - New York is dead

Well, turns out New York came back each and every time. Not to mention before "my time" (i.e. 1970s / 1980s) when the city was truly on the brink and conditions were FAR worse. 

New York City is still a supply constrained market with ever increasing demand and that isn't set to change. I think there is still plenty of opportunity for savvy buyers. 

With that being said, I would highly recommend against investing in Newark. Although the city has improved tremendously, basis now reflects that and it is hard to find "deals". Moreover, the ENTIRE CITY of Newark is rent controlled making it even more onerous than New York City. 

However, I do think transit oriented New Jersey still has plenty of bright spots. 

Bump

I am very active in both markets and love em! 

Which market are you focusing on? 

Well said! 

Send them a notice to start with and see if that improves their behavior. 

The notice should outline possible fees for smoking damages and / or cause for termination. 

Members - doubt it. Employees - definitely not. Principals - perhaps. 

The definition of that is as bit open ended. I'm not an attorney, but happy to connect you with a few attorneys who might be helpful. 

Very clever strategy and niche - sort of blends the benefits of MTRs (premium yield) while de-risking with long term leases and high quality tenants. 

Let's say you can do it - why would you? 

Your renter pool just shrunk tremendously. Is that offset by some insane premium a vegan renter would pay?