All Forum Posts by: Adam Pervez

 I'll text you! I'd like to attend the next one. 

Hi, I am looking to attend any meetups in Central and North New Jersey. If anyone is hosting anything next month, I would love to attend and meet new people in this space.

Thank you!

 That's what I am coming across as well. The areas are a bit sketch but the profits are there. I guess it just all depends on having a system in place to alleviate issues that will come down the road. Let's connect!

 Shot you a connection request!

 Hi Ethan - Do you still work with clients in the East Stroudsburg area?

 Hi MaryAnn, did you ever connect with any resources for East Stroudsburg?

 In Easton but looking at Bethlehem now as well. Where are you at?

Hi all - 

I am looking to expand my portfolio in LV and was wondering what people were buying in how the market is today. Thinking of doing another MFH purchase but was curious how SFH do in LV.

Hi BP Community, 

I am writing this post because I feel like I have been stuck in expanding my current portfolio. I am 27 years old and earn around 150-160k in gross income from my W2 which is remote. I have a duplex in Lehigh Valley Pennsylvania which currently cash flows 800-900 a month. I work a side job for a friend and make 3-4k gross income. I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.

I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.

I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down. I am fine for long term growth and don't mind working for the next 20-30 years to build a sustainable portfolio with no mortages on them as the end game plan.

What would you do? Happy to clarify any more information on this since I know this is very open ended...

Hi BP Community - 

I am under contract for a 2 family home in Bound Brook, NJ built in 1880. Property is in okay condition but has some leaking pipes in basement and needs  a water line for the 2nd unit to have better water pressure. There is also termite presence potentially since treatment was done and other issues that I am thinking will be around 8-10k. Electric and plumbing was modernized but there are still some galvanized pipes that have issues. My offer is 560k which is 60k over ask price. Cash to close is around 47-48k with a 5% conventional to house hack. If I have around 70k liquid cash now and I put in the 47-48k to close, I will be around 22-23k which I would need to do some repairs and maintenance around the home. Now, I can negotiate seller credits to address some of the plumbing issues and have them run a water line for the 2nd unit. I believe if I get the upstairs unit (3 bed, 2 bath) ready, I should get around $2700 per month for it plus they would cover utilities. I am looking at a 4700-4800 monthly mortgage. I would have a roommate living with me for $1000 and we would split utilities for our unit.

My concern is that with 70k liquid cash, I would get emergencies in the property that I may not be able to cover right away. What would you do if you were in my shoes?

Listing - https://www.zillow.com/homedetails/428-E-Union-Ave-Bound-Bro...