All Forum Posts by: Aaron Hyatt

Hello @Maria Teo. Have you asked your PM if they will send you any invoices? We have a $300 repair clause in our agreement which allows us to handle repairs below this limit without notifying the owner. However, we do our best to run each and every maintenance request by the owner first to let them know what is taking place and give them the option to handle it themselves. We use a management software that includes tenant and owner portals. When a tenant places a work order request, we can assign it and check a box that sends an email to the owner about the request. Additionally, when the invoices come in, we add the invoice to the property ledger, so the owner can download or view the invoice once it's paid. So we don't actually send the invoices to the owner, but they are aware we have done work and have the ability to view the invoices(maintenance, utility bills, leasing commissions, etc.) through the portal. If I were you, I would ask the PM if they would send you the invoices as they come in. Best of luck.

Hi @Steve Maginnis ! Which software are you using to send those invoices? I have been looking for something that does that.

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@John Walter Great info John, thanks for the value.

And yea…saving for my second property should be a lot faster now that my houses expenses are fully paid essentially. I’ll be on the next Zoom call with @Jonathan Greene for sure.

One more question if you don’t mind…I assume you have contractors/repairmen on hand that are reliable in case you need for your Philly/NJ properties. I’m new to the Elizabeth area so still trying to find a reliable circle of repairmen. Could you connect me with a good electrician in the area? :) send me a message if you can. Thanks again!

1 Vote

@John WalterSo my overall goal is to make $6k per month passively within the next couple years so that I can quit by corporate job. Currently I'm living in my home, I have the 2nd unit rented and I rent out the spare bedroom in my unit to my sister which covers the mortgage fully. I'm still undecided on how/where to buy my 2nd property. I was even thinking of doing a job relocation to PA so that I can qualify for another FHA. Are you using a property manager for your Philly home? And how do you find your deals… MLS or off market?

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@John Walter Hey John! I'm in the Elizabethport section. Curious to know how you guys financed your 2nd property? I did FHA on the 1st…is a conventional 15% down the cheapest option on the 2nd property?

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Investment Info:

Small multi-family (2-4 units) buy & hold investment in Elizabeth.

Purchase price: $410,000
Cash invested: $25,000

3bedroom Over/ 2 Bedroom. I live in the 2 bedroom unit and I rent out the spare bedroom. I have the 3 bedroom unit rented also.

What made you interested in investing in this type of deal?

Monthly Cash flow

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

FHA 3.5% down

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@Joseph Guzzardi Jr I’ll message you!

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@Al Diaz I wasn’t able to find the Zoom details on Jonathan’s page…could you message me the invite? Looking forward to connecting with you!

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Hi everyone! I just bought my first 2 family property in the Elizabeth, New Jersey area. Looking to connect with other established investors here in NJ to gain some knowledge and add value where I can. Reply if you’re interested in connecting or just chatting real estate/business in NJ!

2 Votes

All Forum Posts by: Aaron Hyatt

Aaron Hyatt has started 2 posts and replied 8 times.

Post: Property manager billing - receipt collection

Post: New Jersey Investors Connect 2022

Post: New Jersey Investors Connect 2022

Post: New Jersey Investors Connect 2022

Post: 2 Family Duplex in Elizabeth

Post: New Jersey Investors Connect 2022

Post: New Jersey Investors Connect 2022

Post: New Jersey Investors Connect 2022