All Forum Posts by: Steven Yang

As a landlord in NJ, do I have the right to enter the premise with a licensed contractor to investigate violations from the township?

Can the tenant deny my access if I give them enough notice ( > 24 hours)?

Hi Folks,

I recently want to re-evaluate my rental properties insurances as well as looking into umbrella insurance to cover them. I am currently in discussion with AAA. Does anyone have feedbacks on AAA or any other recommendations on good insurance company or broker? 

My properties are located in central New Jersey.

Thanks,

Steven

@Mark Langdon

I'm at my third Property right now. I am wondering if you have any luck finding a good insurance agent to work with. 

hey @James Lucero 

Just wondering how did your project go?

As part of my next project, I potentially would want to look into similar places as you described: 3-4 units in newark area. 

Hi All,

I recently moved to Rahway NJ, right next to the train station. Is anyone familiar with the real estate situation in Rahway? I know it's rather a general question, but I thought it would be good if someone can give me a sense of how Rahway is like in turns of real estate investment. 

P.S. I am still a newbie buy and hold strategy, no preference on condo/Single or Multi family at this point. 

Thanks James,

I saw it on other forum that these following areas are worth taking a deeper look. I guess i'll be spending some time researching them up. 

Charlotte NC, Michigan - wayne County, St Louis, Kansas City / Indianapolis

Also, can anyone share any best practice/advise they have around long distance real estate investing with buy/hold(at lease a year).

Hi Everyone, 

I recently landed a deal at Piscataway NJ - not a great deal, but it gave stable return being that it is walking distance from Rutgers. 

I am now on the look out for another deal, and hopefully to score one before the summer. . I would say my cap is at $500k with 20% down.However, I found most deals are too pricy and do not give a decent return.

Is that the situation with most NY metro area? should I start looking out of state? 

Any recommendation on area to research would be much appreciated. 

Thanks everyone for your replies. I had recently came across a property, which I am fair fond of. I had posted here with some analysis: http://www.biggerpockets.com/forums/88-real-estate...

any thoughts or comments are appreciated. 

many thanks.

I recently came across the following deal and thought I would share with everyone here and get some feedbacks on it.

Single Family with 3 bedroom - of which one is master with its own bathroom. other than that the house has another 1.5 bathroom, 1 living room, 1 kitchen, no garage, but a private driveway. 

Financial is as follow:

listing price: $310,000

property tax: $ 6,500

potential rental: $2,200/month

With 20% down payment, the cash flow would be about $455/month, or a ROI of 0.734% per month or 8.8% annually.

obviously, the 50% rule does not work here, but i found that to be the case with most properties around new Jersey. This particular property is in a very nice, safe neighborhood and very close to Rutgers. 

Any feedback or critic are welcome.

Many thanks,

Steven

Thank you guys for the reply. I am looking to buy and hold for at least 2 years on the investment property. I would prefer my renters to be either student or working professional. I had done some looking around on northern jersey along the river, but the math just doesn't work there with 50%rule. I would prefer multi family more, but not restricted to that yet as long as the math works. I am interested in edison, piscataway around the Rutgers area, as I went to Rutgers myself. That is my next area to search for. But maybe you guys would have more insight toward some golden area which I am not aware of as I am still a newbie trying to score my first deal. As for south jersey...unfortunately, I do not have interest in that at the moment. Many thanks, Steven