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All Forum Posts by: Aquila Leon-Soon

Aquila Leon-Soon has started 3 posts and replied 15 times.

Post: Licensed Electrician in New Jersey

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
I have an electrician and looking for a plumber. Can you recommend a plumber?

Post: GC in Union County, NJ

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
Hi! I am looking for General Contractor recommendations for a rehab project in Plainfield, NJ. Any leads will be appreciated.

Post: Sheetrock!! Looking for a drywall crew.

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
I would like recommendations too. We just bought a property in union.

Post: Los Angeles/Santa Monica Meetup

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3

Thanks. Can't make this but can I get on your event list?

Post: Opportunity Cost: Turnkey vs BRRRR?

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3

@Glenn McCrorey Thanks for the advice!!!

Post: Opportunity Cost: Turnkey vs BRRRR?

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
This is a great thread. Thanks for starting this Tiara Stewart-Cannon. Glenn McCrorey Your post was very helpful as we are in the process of trying to complete our first BRRR deal. As others on BP have shared, the refinance part can be tricky. What bank do you use?

Post: Low cost areas in New Jersey to start out investing

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
Javon Hillman I am interested as well. I'm looking for deals in Essex, Hudson and Union counties.

Post: HELOC vs. Mtg

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
We are purchasing a property in NJ, all cash, and would like to move on to the next purchase very quickly by cashing out the equity on this one. The property will be under our LLC. Would it be better to take out a HELOC (maybe pay interest only) or take out a 30 yr mortgage? Are both options available for an LLC? Any thoughts would be appreciated.

Post: Low cost areas in New Jersey to start out investing

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3

Welcome to BP @Louis Friedman! I'm also new the NJ market. I agree with @Simcha Davidman and @Louis Friedman that there are some good deals in those areas but make sure you get to know the permit lag time if you are doing any rehabs. Some hard money lenders won't lend to you if you are buying some of towns like East Orange which has good deals but takes a long time to obtain permits. Good luck!

Post: New Member from Northern New Jersey

Aquila Leon-SoonPosted
  • Cranford, NJ
  • Posts 15
  • Votes 3
Originally posted by @Darren Sager:

@Abena Sidibe I personally think that Northern NJ is one of the best places to invest long term for reasons to long to mention in this thread.  That being said where I recommend really depends upon where you can afford to purchase, and what it is you're trying to achieve.  I feel that you need to be in solid towns for good rents and long term wealth building from appreciation.  But solid towns don't mean high end towns because they usually don't produce good rents along with appreciation.  In those towns you only get appreciation and that more speculation than investment.  

 Do you have any suggestions on towns that are overlooked?