All Forum Posts by: Sergio Bofill

Thanks a lot @Ryan Goldfarb! I appreciate the info and the swift response.  

Hi BP,

I want to start my first direct mail marketing campaign in northern NJ, (West New York and Union City) but I am having no luck trying to build the list.  On ListSource I start by entering the zip code (West New York, NJ 07093) and I get a count of approximately 8K.  Then I try to select my property type which in this case is Residential Multifamily (4 Family or less) and the count goes down to 0.  Am I doing something wrong? Any info or advice would be greatly appreciated.  Thanks!

SB

Hey @John Errico great info!

I am also from your neck of the woods and I am in the process of searching for my first multifamily.  All numbers being equal is there an advantage to owning a 2 family vs a 3 family or vice versa? Thanks!

Hi All,

I currently have a client in Morris County, NJ who wants to rent his house 3,7OO sq. ft for corporate use only.  Any ideas as to how I can go about helping this individual?  I know referrals do not apply for rentals, but due to the higher rental rate would another agent be willing to help? Any info any of you can give me would be greatly appreciated. Thanks!

Hey Jaison,

I am a real estate agent in NJ {Hoboken} and a newbie investor currently working on my first deal.  My wife's family is from the York area and I have been interested in connecting with real estate pros as I contemplate investing in the area.  Why? Because my area is so expensive being that I am right outside NYC, bummer.  Wish you the best in your investing journey.  Maybe we can grab a coffee next time i'm in town.  

Erik,

Wish I could help you with your question, but I am a newbie when it comes to REI. I came across your post because I was looking for information about Bayonne. My finance and I are looking to buy our first investment property and the realtor is pushing Bayonne and we would like to know about what areas you think are best. How do you like Bayonne so far? Any information you can give me would be greatly appreciated. Thank you!

Sergio B.

Thanks Scott and Kristopher! I appreciate your comments and will def. take your advice.

This is my first post and I am looking forward in becoming part of the community! I would love some insight/comments/advice from community members on my current dilemma . Thanks!

My fiance and I are looking to start investing in real estate, so we will pursue an FHA loan and buy our first property. We will be buying a multi-family home and using a buy and hold strategy while renting out the remaining units (owner occupant). I've read a ton of articles here on bigger pockets and would love to share with you a listing I came across to see if indeed it "works" and is a good deal.

Multifamily Home

Three units all 2BR ,1BTH (Rental income $3K a month)

Listing price: $250,000

Taxes: $10,300

W/S: $1,100

Heat: $4,000 (Oil. Is this unfavorable?)

I would make a down payment of 3.5% = $8,750 and finance $241,250.

$241,250 at 5% = $1,342.50 /month

Expenses per month = Taxes $858, W/S $92, Heat $335, Insurance $85, PMI $140, Electricity $100

This listing has been on Zillow 748+ days and on Trulia 175+. Bad sign? Bad deal/good deal? Anything I missed apart from rehabbing costs? Thanks for hearing me out.

SB