All Forum Posts by: Stephen Kunen

@Paul Papamarkos @Andy Rousch My wife and I do go to meet ups. I’ve been to in PA and NJ but found the PA ones more useful for us. Actually I’m throwing around an idea about starting a meet up in the Somerset county area about midway between both.

David Ribardo once we are done BRRRRing this property, we will be working towards our goal for next year, which is 6 units. We may need to get two 3 units, one 4 unit and one 2 unit, three 2 unit etc. So we will be looking pretty soon. So about those 15-20k properties, I am assuming they are single families? Is there as much competition to get those as multi’s?

Lisa Mangroo when you say the best multi family deals are down south, are there any specific markets you can point to? Thanks in advance!

I personally prefer multi-family because of the economy of scale and the spread of risk. We started with single families and just closed on the first multi-family. We are trying to BRRRR the property and the good thing about having multi family is that we can keep getting the rental income while renovating one unit at a time. The down side is that multi family properties have got really hot in almost every market, and the cap rate has been squeezed a lot.

David Ribardo “...but in the West End of Allentown, there are portions where I could expect to collect over $2,000 / month rent for the same investment.” These are the properties I need! :)

Andy, I have found some success in the Lehigh Valley area, but the market is very hot right now. If you are interested, you can come to the meet ups. There are quite some Jersey investors there.

Hello, I’ve got a four unit with a garage and I am looking to rent out the garage separately and am expecting a lessor that does not live in the four unit to rent the garage. 1) is there a best practice about this scenario? Should I for example have a separate garage specific lease form or would a general lease for an apartment in the four unit suffice? Seems to me that there are issues with the car that involve some thought since one of the units is on top of the garage. 2) anything else to consider? Thanks!

Hi @Kenrick are you still active in investments in Aruba? We will be visiting in May and are interested in learning more about real estate opportunities on the island. 

Thanks,

Steve

Thank you @Eunice L. @Jason D. @Brad McCance @Colleen F. and @Mitch Messer. The visit went very well, despite the fact that the property manager already told the tenant that I was the owner. She was very friendly and seemed happy living there. That's more important than anything else. Thanks again everyone and happy holidays!

I agree with David Ribardo , besides the legal aspect, there are so many other considerations, like economic condition, demand and supply for rentals, availability of good / affordable contractors, quality of property managers, etc.