All Forum Posts by: Shadman S.

Hi all,

A buddy of mine has a website/platform in beta, that will allow landlords to list unlimited properties for free and mark their availability to show the property as well. The tenant can then schedule a tour themselves after they're verified and can apply on the spot at the showing through the site, being screened immediately. The best thing is there's no realtors involved in the transaction and no broker commissions on either side. I wanted to get some input as to what features might be good to implement for this site. 

Fellow landlords/tenants, please chime in! 

PS, if anyone wants to sign up for the beta (Currently 40+ multifamily landlords signed up), I can intro. 

Hi all,

Hope you all enjoyed the new year. I have a tool for landlords to list rentals and shared space, schedule showings and generate leases all 100% free for landlords. 

If there's anyone that's interested, or would like to offer any suggestions as to what feature they'd like to see, please feel free to reach out!

Just curious, mostly because I'm not the most patient person - how long did it take you guys to be at a level you're comfortable with? I've been trying to get good deals over the last year or so to continue and grow my portfolio and passive income, but the markets I'm looking in have been overheated and good deals are scarce. I've also been outbid on the few great deals that have come along.

When did you realize you were coming to a point where you don't need or want any more units/money?

Save. I'll save it and reinvest until my rental income matches my earned income. Maybe then I'll spend some of it. 

Hi all! I currently have a 2 family in Newark, just a few minutes away from Prudential Center. I'm currently looking to expand and purchase 5 properties this year. If you have anything that may be of interest, please send me a message. I also have a great team if anyone needs a contractor, super, etc. 

I'm currently looking for 2-8 units. Thank you and good luck all!

I closed on my first 2 family last August. Took a while to get the second unit rented but it cash flows even with one vacant (knock on wood). Addicted to real estate already and on the hunt for the next property. Always open to tips on investing around NY/NJ Tristate area if anyone wants to grab a cup of coffee and discuss!

Just recently closed on a 2 family in Forest Hills section of Newark.  About 8 min drive from Downtown. Would love to be part of the next meet-up and would love to network with investors around the area. I figured getting the first property was going to be the hardest so I'm looking to move from here.

I'm in the same boat as you, actually. 2 Family in Newark - looking to split the heat/hot water utilities. Any info would be appreciated!

James C.

Jim,

Thanks for your response. Let me give you the numbers. After running numbers again, using more conservative figures, returns are no longer near 15% COC. Let me know what you think. Go for it or back out?

Mortgage: $850/mo - 30 yr @ 4.1%, 20% down payment - $44k

Property tax: $4438/yr - $370/mo

Insurance: $100/mo

Water and Sewage: $1000/yr - $85/mo

Prop. Mgmt: ~$200/mo -

Reserves

CAPEX: 10% - $320/mo

Vacancy: 10% - $320/mo

Maintenance: 10% - $320/mo

Approx. Gross Rent: $3200-3600.