New Member from Bergen County NJ

[John Yarenis]

Hello there BP group.  I'm a new member to the site and forums.  I've been following the forums for a number of weeks now and found it all from the podcasts (when I can listen to them).  That's my introduction, now to me:

I'm a Corporate Finance & Accounting, born & raised in NJ.  I inheirited ownership shares in an S-Corp that owns a small retail strip site (~14K SF).  I am a fan of the Buy & Hold strategy as I think it will help me with reaching the goal of a) Generating enough cash flow to provide security for my financial future and b) Provide additional income for my retirement.

While I'm currently involved with retail real estate, I'm more interested in multi-family residential real-estate; ideally the 5-25 unit properties.  I know that NJ is not the best market to invest in, but it's the only market I know :(

I'm most concerned with obtaining the financing and down payment for that first property.  How would my current situation help/hurt me in making that first (and possibly subsequent) purchase? 

Thanks in advance

[Joe Fairless]

@John Yarenis sounds like you've got a solid start already. The lender is going to look at the property's performance, your liquid assets, your proximity to the property and your track record managing similar properties.