All Forum Posts by: Stephen Chatto

Any luck learning a little more about Camden?  

@Porscha March Prices are a little higher than I have been accustomed to but it is a great buy and hold market. Are you looking to buy and hold in Trenton.   

Definitely not a Good Flip Market.   People do it though.   

Is there a replay available to watch?

 Thomas,  

Taxes as mentioned.   But overall it is a good place to invest in my personal experience.   There are certain areas I don't buy in, but have been very successful with the multi-families in Trenton.   My bigger issue with Multi's is the DCA...  But that's a state Issue, not specific to Trenton.  

Here is a link to the executive order if you are interested:

https://drive.google.com/file/d/1ISse6cAN8-WfKKPlFhMkt2tpTLvtRDXF/view?usp=sharing

Here is a link to a press conference he had where he kinda said it was a "Recommendation"

The wording of the EO makes it seem "Mandatory"?

Well.  I guess the question is are you doing it the right way?  There is a lot of Nuance in Wholesaling....    I personally just use a title company.  If everything goes smooth, you will be fine.   If not..  then you might be fine.   If you string a seller along, and had no ability to close, and were just fishing for a buyer... you may end up on the wrong end of a law suit. 

If you don't have the ability to close, then you may want to JV with a buyer who does.

I am in investor in Mercer County.  Let me know if you need anything.

Prices are going up a bit, But that's overall...  I don't see anything special going on in that area.  

Imagine 5 Students on a lease, and 5 Parents co-signing.  Yikes...    And yes they all need to be on the same lease.  

Also have 5 sets of parents reviewing your lease and pushing for changes to protect their kids.

Everyone is responsible for the rent and on the lease... but they want to feel like the are only responsible for their portion.

What happens when 2 move out and 3 stay...   Dividing up Security deposits etc can be difficult.  

Constant turnover.  But hey...  your increased rent can help offset the turnover costs.  

Ewing will need to know all the tenants every year, and if they change you need a new certificate of occupancy before the new tenants move in.  

Neighbors complain when they leave a mess outside, or don't handle yard care.  Sometimes to you, sometimes to the township.

You can do well with student rentals, but they are a lot more management intensive.  

Personally not my cup of tea.   But there are a lot of investors very successful with this model.  

Good Luck

Let me know about any deals you get in Trenton / Mercer County.   Thanks.