All Forum Posts by: Yangyang Jin

 Because I am in New Jersey and started single family rental assets a few years ago, i guess naturally I would want to start in NJ where I live and familiar with. It's not until recently I realized that NJ is a pro tenant state. I wonder how the NJ landlord dealing with this? There must be NJ investors....?

I have this posted ina different category but didn't get any anwers. Trying my luck here. I have come to find it very controversial for investors who would like to buy under valued asset, renovate, and raise rent, on the other hand, when we acquire properties, usually there are tenants living in these units already. In New Jersey, Landlord does not just have the right to vacate the tenants to move out in 45 days, there need to be good causes. And price under market is not a cause. I am curious to learn how other investors in New Jersey handle this?

On the other hand, though I would like to vacate current tenants to increase rent tremendously, I also came to learn some tenants have been living there for over 10 years, have family and young children, paying rent on time. You would want to help them somehow. Vacate them is not the best way to help people either. How do you view this?

I have come to find it very controversial for investors who would like to buy under valued asset, renovate, and raise rent, on the other hand, when we acquire properties, usually there are tenants living in these units already. In New Jersey, Landlord does not just have the right to vacate the tenants to move out in 45 days, there need to be good causes. And price under market is not a cause. I am curious to learn how other investors in New Jersey handle this? 

On the other hand, though I would like to vacate current tenants to increase rent tremendously, I also came to learn some tenants have been living there for over 10 years, have family and young children, paying rent on time. You would want to help them somehow. Vacate them is not the best way to help people either. How do you view this? 

I am looking for General Contractors and architect who are local in central jersey to partner on an opportunity I'd like to make an offer. This brick building was built in 1870s, well maintained,  2 units family. First unit sits on the 1st floor with 1 bed and 1bath, spacious kitchen, dinning and living room. 2nd unit is a 4 beds 2baths split in two floors. The basement is not finished, and is moldy at the moment. The property in general is in very good condition, but needs work. I am a new investor but would like to scale the # of doors quickly, I consider this property needs moderate renovation as my first MF investment. Reach out to me if you are interested in having a quick discussion. 

I am rookie investor looking to build my portfolio with multi-family assets in New Jersey area. After thinking through what is the most practical way for me to start, I have narrowed down : 1. The size of the deal  I am able to afford with 25% down payment, 2. How much value added rennovation work I am able to take on, 3. The towns I am interested in investing. I still struggle with below:

- No resources/ connections with lenders who can lend to 4+ units. I have came across a very interesting deal that's within my budget, but has 12 units, and the lender I have gotten pre-approval from would not be able to help me with the deal. 

- I would love to take on value added opportunities so later can do a cash out to continue my investment journey, however, I have very little experience with renovation or have the vision how a property can turn into  a functioning and attractive asset ( architect connection or background needed) 

- No resource to off market deals, the good deals that's available on MLS usually are gone when they are just listed (I think I need a more connected and experienced real estate agent in the multi-family area)

- I am looking for positive cash flow with these deals, but a few deals that  I have analyzed, all run negative cash flow. Are the asking price too high? Are the current rents under market value? My model of calculation is very easy- includes principals & interests, taxes, insurance, maintenance and monthly income. 

Would love to hear anyone has advice and resources to introduce, and look forward to connect with my fellow New Jersey Real Estate investors agents, lenders, contractors, architects.

Uh I missed it, look forward to the next meetup opportunity. 

Hi Andy, thank you for sharing the useful information, would love to join these meetup events often. 

 Thank you Sebastian, appreciate the information. Look forward to meeting you all soon in person.