All Forum Posts by: Yonah Sturmwind

I generally agree with everything thats been said so far, DTJC and Hoboken are pretty priced and any value plays in the JC will be in BeLa, Greenville, and maybe the Heights. I think that BeLa and Greenville are still very much block by block areas that you need to know pretty well to be comfortable investing in, at least in the short term. 

If I remember correctly, they require the property manager to live within either 30 miles or 30 minutes of the property (I think) therefore if your out of state they will require a local person. 

What do you guys think of the areas around WB/Kingston such as Nanticoke etc...? Are you seeing any rent growth or just good cashflow? 

Stephen Chatto, how do you analyze a market like Trenton? Are you assuming just straight cashflow with 0 appreciation in rents? I am not very familiar with the market and I believe its on where rent growth is tough to achieve. 

@Steve Wilcox  I have been looking into those areas and I know that you have to be pretty selective in what parts you choose. How did you decide on the best areas in those markets? How did you get comfortable with these areas? 

@Steve Wilcox  I have been looking into those areas and I know that you have to be pretty selective in what parts you choose. How did you decide on the best areas in those markets? 

I am wondering what people on here see as the pros and cons of investing in smaller tertiary markets. The population is lower and there tend to be fewer economic drivers making these markets, comparatively, riskier. That comes with a risk premium and high potential return. What are your thoughts on investing in these markets? 

Additionally, the real estate market, according to many analysts, seems to approaching the peak of the current cycle. How do you review new investments with that in mind? 

Hey @Lisa Kaslyn, 

Welcome to BP and good luck getting started! 

I am looking for multi-family deals for properties with min of 20 units and NJ and eastern PA. I keep checking the usual places like Loopnet and calling brokers but it does not seem like much is coming to the market at the moment. Does anyone have any advice on how to find new or 'off-market' deals there?

TIA

Jersey City is very hot these days, as is Newark and pretty much all of those surrounding areas. I would look anywhere up and down parts of North Jersey that borders NYC or not too far away. 

Brooklyn and even a lot of Queens these days are very over priced. Everyone there seems to be buying on spec assuming large appreciation (unless I'm missing something). 

@John CohenThanks for the response! I am looking at possibly starting a mailer to look for NJ apartment buildings. Looking for 20+ units. Trying to figure out the best way to do one. Did you get the list through Listsource.com? What type of mailer?