Actually, it doesn't surprise me at all that you would laught at cops getting injured on the job.

also isnt almost a 10% drop out rate high
? what do the other 90% go on to do. How many attend and complete college?

your lucky he was an officer and not a thug. the thug would have beaten you sensless and taken all your money.

If someone is bigger than you keep your mouth sealed and mind your business, It's not worth it.

You also sound like an agitator, you couldn't have been in that much of a rush.

I really would like to know the stats on what percent of these kids graduate and or go on to college or lead productive lives.

16 yr old walking around at 4 am ?? another fishy story.was he wearing his pants atleast?

Cut off his food stamps !!

I know some neighborhood punks set up a donut stand earlier in the day but...

I agree that it doesnt matter where it heppened, its still appalling.

Why would you not mention where it happened in the headlines? dont you think ithat crucial peice of info might actually help solve a crime? maybe you saw something but didtn't think anything of it, fits a description, time of day etc oh and LOCATION.

Also i'd say most of these violent crimes are happening in certain parts of jersey City. its valuable info for someone looking to rent or purchase.

So all you have to do to deter these scum bags is peak your head into the hallway or give them eye contact?....and everyone thought criminals were violent.

What a joke of an article !!!

Brewster I agree and I do not think that in 10yrs the market will have doubled but the market will be on the upswing. In 15 yrs-18yrs it will be more than double maybe triple.

The bloodbath that we are seeing now is going to take a long time to recover from.

When I make these assumptions, I am also factoring in that Jersey City is priced substantially lower in comparison to the other boroughs. Let's not forget that this last real estate cycle is what put JC on the map.

More young adults migrated from the NY area and suburbs to NJ than any other area in the country. Their future children or babies in 12 yrs to 20 yrs will all want to rent and buy on this side of the Hudson but still be close to the NJ burbs. What city comes to mind 1st?

I think that with the next real estate boom JC will be competitive with Brooklyn heights and the park slopes of the world !!

Damn it , I hate being such an optimist!!!

Slyng

your not wrong at all. Condos make terrible investments.
let me give a true life example of a proeprty I recently purchased.

At approx 10x ret roll scenerio that can work in todays market.

$525k 6 family located in JC heights for example. Now can probably get similiar property under $500k

Rent roll $5250(below market) per month x 12= 63,000

put down 25% 393,000 loan x .065

$2550 per month mortgage
$875 per month taxes and ins
$700 per month heat and water
=4125 per month total expense

$1125 per month cash flow for repairs improvements etc

over the course of 10 yrs you will have paid off approx $70k
and hopefully in the 10-12yr period properties atleast double. ( lets say ball park 1.2 million). this is an assumption. double over 10 yrs not 2yrs like we just saw.

condo convert by pulling out equity for construction costs or getting construction loan.

700 sq ft per unit x 6 units = 4200sq ft .construction approx $600 k in renovations total.

in tomorrow dollars $700 per sq ft condo x4200 total ft=approx $2.9million-less $1 mill in original loan and construction loan.

= a net of approx $1.9 million in profits over 10-12 yr period.
not to mention all the write offs you get along the way.

hold it 15 to 20 yrs and those numbers should be significantly better if you time the markets correctly.

remember this was done with a mere $130k down.

Ahhh the power of real estate !!!!

He definitley isn't the only one and if anyone thinks they are getting shaken down by an inspector tape record or if possible videotape the interactions.

Wibbit, You are embarrassing yourself.

It only applies to the CEO's or the top 5 executives of bailed out troubled banks receiving bonuses.

You're right though, 50% of Jersey City's demographic is comprised of bank CEOS.

Wibbit you should consider running for mayor, you seem to know more than the average JCer.

If you dont mind me asking, What do you do for a living?

http://www.marketwatch.com/news/story ... 461D-891C-1134821D0816%7D

Yet Another Wibbit Classic !

Bugsboy

Thanks for correcting Wibbits error. Wibbit stop just reading the headlines and do some research before you spew false information.

Last time I checked the 30 or so CEO's that will be effected by this don't drive Jersey City's real estate market.

Another Wibbit Classic !

Brewster

I figured that was what you meant. I've been doing the same formula as you before I even knew how to do the cap rate formula. It works almost the same way.

If a property was $400k and brought in $40k or so in rent roll with sep utilities I would consider it a great buy, especially in these areas.

I dont believe we will se 10x downtown or hoboken areas (I could be wrong) but definitely will in the heights and JSQ and it already exists in Greenville.

Yeah that 8 family is worth $350k especially if heat isnt split off.

These zillow numbers really dont mean much but if property values do drop 70% it means we are watching a real $hit show.

Since when is goldman sacks the real estate trends guru, didnt they suck at what they were supposed to specialize in?

brewster when you say 10 x rent can you give me an example?

IE 6 family for $600,000 brings in 60k per yr. is that what you mean? also dont you you go by cap rates?

Thanks

Wow ! Do you really think the government will put $400,000 limits on wallstreet salaries?

Trump has no clue ? I'll take your advice any day over his when it comes to real estate.

Wibbit, Don't you think he's seen this before?

You must have missed my point, the players with cash to buy can purchase these buildings with NO loans.They esentially are the bank.

If the tri state area gets to the point where I am unable to rent my apartments than it really doesnt really matter cause everyone will be up sh!ts creek anyway.

Again, I dont even worry about it because If it gets that bad everyone will have been unemployed and starving long before I do.

Oh wait, I'll just rent to all section 8. there will be more people with there hands out in this economy and with Obama pumping more money into the welfare system i'll increase my rents.

People like you can say "I told you so" all day but I really hope for everyones sake it doesnt get to that point.

Be careful what you wish for Wibbit.....

Slyng

Last night on CNN Donald Trump said its a great time to buy property and hold for long term to acquire wealth. He did say prices will continue to slide and people should be buying along the slide but don't time it.

Investors on the sidelines with cash are really starting to buy up properties in the area. I know of some rather large transactions going on.

As a realtor I've never worked with more investors with so much capital. I am referring to investment groups with millions to invest.

Rates are at an almost all time low and its crazy not to take advantage of this if you are in positon to.

Timing the market is impossible but if you are one of those people that will hesitate to pull the trigger for the next 20 yrs than your only kidding yourself.

You propbably just don't have the stomach for this game.

This is more terrible news for JC. Unfortuantely, an increase in crime is hear to stay for a while.

Something has to change and fast. I think for starters healy and his crew gotstogo.

My condolences to the family of this man.

RIP

Wibbit

although I do agree if I sold at the peak and took my cash in theory I'd be ahead of the game if I were to start buying again now or in a year but the problem now is getting loans.

I did some deals 3% or 10% down and was able to get 30 yr fixed rates.

Banks today aren't giving the same types of loans and they have really tightened up on who they give loans to.

There are two things I always hear old timers say

"I wish I bought it" and "I wish I never sold it".

Thats why I am buying as much as I can and not selling any of it. !

Be careful hoe you go about denying them, many times you can't deny based on the fact they have section 8. credit checks also aren't a way out.

Wibbit

you ask why buy now? Have you seen rates lately. If you can borrow at 4.8 percent for homeowner or a 6 percent for invesment you'd be crazy not to.

I'm actively buying as we speak. Its a feeding frenzy out there if you know what your doing.

let's keep in mind i'm an experienced small/medium investor with a total of over 40 units (very positive cash flow and write offs galore) and 'm looking to triple my portfolio in next 5 years as I get into the bigger projects.

I'm holding atleast 15yr and maybe until im dead.

For the condo owner looking to buy downtown Jc or Hoboken areas it still might be unappealing for those on a tight budget.

I have section 8 tenants and have had only 1 decent experience. Its a myth that section 8 pays higher rents.

I get higher rents from stanard tenants and they respect the property not to mention the amount of people they will cram into the apartment illegally.

I have a 6 unit building and only 1 section 8 tenant lived there. once I was able to get her and the extended family tree out, the water bill went from $800 every 2 months to $300 every 2 months. Not to mention the rent went up and the roach population went to zero.

They also will call the city on you for just about everything even if you are keeping the heat at 70 degrees which I guess isn't comfortable.

Unless your building is a complete crap hole don't do it.

The fact is, if you give someone something for nothing.....
.

There is something drastically wrong with your case study. Paulus hook for $293 per sq foot. Either you are in the wrong neighborhood or you have your numbers wrong.

Im an active licensed realtor with access to all the MLS's, please post the addresses and or mls #'s.

Someone mentioned the JC heights guy. I think you were referring to me?

As far as investing or buying to live, condos are always 1st to get hit. I buy multi families only with cash flow. Condos are not my thing. Condo conversions on the other hand thats a different story.

your right I did "have a heart attack",but it was when my accountant told me that Im getting all my tax money back and leftover rightoffs for next year. Not to mention I was still able to get one of my properties refid and it appraised within 10% of 1 year ago. The power of real estate.

I Lowered my payments rolled into 30 yr fixed and pulled out $50,000. My tenants are paying the monthly nut and some.

By the way I havent dropped the price on ANY of my rentals and they are moving surprisingly fast.

please keep renting.

Your neighborhood landlord

brazilian mastiffs or fila basilieros are considered the most protective of all mastiff breeds. They are sweet with family but will never warm up to strangers. As a matter of fact most mastiff breeds can be very protective.

the only ones that seem really laid back are the english mastiffs.

Sometimes dogs interpret a threat although it isn't or we dont realze it is.

Also dogs never forget maybe they were taunted by that person in the past. I had a rottweiler that was always taunted by the garbagemen. she went nuts anytime they came around. If she attacked one of them the press would demonize the dog.

Regardless of all that, dogs should always be leashed and under control or they should not be in public.

Greenville chick

I often dont agree with you but it sounds like you are dealing with a slumlord. I personally sleep at 60 degrees at night but im hot blooded.

65 is the law but 53 degrees is damn cold and not legal.

I am currently dealing with the city on this very issue. I have a few pain in the ass tenants that think im running a four seasons.

I was getting threatening calls at all hours of the night over the past week by just a few tenants in one of my buildings but the rest in the building are comfortable.

The good guy that I am, I went over there the first few times and noticed the thermometers I provided said 70 degrees.

The past landlords kept the heat at 85 and tenants slept with their windows open. Im not letting that happen. Also he had no money for repairs left over and the place went to sh!t.

I of course documented everything and sent certified letters and emails to city inspectors all the tenants and of course my lawyer.

The city ran the test with the dickson meter and over a 5 day period we passed the test.

Just to make the tenants see im trying to help I brought a plumber in again and the plumber said heat works perfect and tenants cant put couches near baseboards and of course shouldnt walk around in tank tops and flip flops with no socks when its zero outside.

I confirmed the process with rent leveling about how to split off the heat. I cant do it until the spring and I need to adjust the rent based on the formula.

Theres an old saying i just made up " the squeeky tenant gets electric baseboards and pays their own heat".

I already have a quote $1100 to baseboard each unit.

If they dont like that they can move out with 30 days notice.

Thanks and keep warm !

Shouldnt the city offer grants or loans for this kind of crap? The city or state should loan the money to the association or landlord and charge a reasonable finance rate.

Rent control laws allow the landlord to pass this cost off to the tenant using a capital improvement formula.

it's bad news for everyone in Jersey City if this really cost $30,000.

Question: How many units was the condo building that cost $30,000 for the job?

thanks

Sounds to me like a pain in the as tenant.

Make sure you sprint while zig zagging and suddenly stop and sprint again, Reapeat as necessary.

Thugs often have poor aim and wont give chase for more than a block. they are very lazy and unmotivated.