All Forum Posts by: Aly W.

I'd like to run this deal's scenario too. I'm going to look at properties similar to this.

Purchase price $60K (3 bedroom/1ba)
Mortgage of $48K (7.125%, 30yr)
Taxes $2015
Insurance $600 per year
Maint/Expenses approx. $1500 per year (could be less, property is in good shape)

Rent would be at least $900 a month (property is currently vacant, tenant could potentially be signed to a lease prior to closing)

NOI -
Gross rents $900 - Operating expenses $343 = $557

Cash Flow -
$557 - $343 (mortgage) = $214

Thanks,
Aly

Check out Vistaprint.com.

I just ordered 500 postcards from them for $62.00. There was an online coupon for free shipping and 50% off. They also offer stamp and mailing services, but I didn't price them out.

Do a Google search for Vistaprint promo codes, they always have specials.

Thank you for this excellent post - very informative!

I never heard of this particular program, but I used a first time homebuyer's program 12 years ago when I bought my condo. It was through a local, but major, bank. I only had to put down 5%, didn't need PMI, closing costs were minimal, no application fee, no appraisal fee, no credit check fee...and no junk fees. Interest rates at the time were about 6.75%. This was not an FHA loan.

I didn't need to complete any course or participate in any activities. The bank itself wasn't even my checking/savings bank. Just ask around, different banks offer different programs for 1st timers. A friend of mine also found a great program with a small bank, low fees and a below market rate of 4.75% when prevailing rates were about 6%.

The real estate section of the Sunday paper usually has ads for these programs as well. You'll get a great rate, or great terms, or...maybe both!

I've heard those words too - from realtors!

Just didn't want to say it :wink:

I'm really curious about this...probably because I'm a professional photographer :)

Having seen so many properties online, in newspapers, and free magazines, I have to wonder about the quality (or lack) of the photos of these properties.

It would seem to me that "curb appeal" is just as important online. So many images of properties are taken from wacky angles, with poor lighting, and no regard for what is and isn't in the picture. I've seen plenty of images that are BLACK - simply no lighting at all! You can barely make out what the room is, much less what it actually looks like. I know most agents and sellers are using point 'n shoot cameras, nothing wrong with that if you know how to use them.

If I were a seller, and I saw images of my house being marketed with dark rooms, pictures of just a closet door in a room (yes, I've seen that), a picture of a toilet, yard with every imaginable toy and junk thrown all over, and even a listing with a caption that said "great 2 car driveway, not shown due to photo angle", I'd be very upset. Should agents attempt to help their seller tidy up/stage their house or yard for the photo shoot? Give them some guidance on how the house should look at least for the photos? I'm not saying scrub their floors, but try to clear off some counter space, move the garbage cans away from the front of the house, keep the litter box out of the shot, etc.?

At one point, I had marketed my photography services to several agencies in upscale towns. I did presentations showing samples of what is generally online, and what I could do. I did get a few agents who asked me to shoot their listings, but most said it was just cheaper and easier to use the point 'n shoot. One agent even joked that the flash on the office camera was broken, but oh well! Trying to get a feel for a price point, most agents I spoke to directly said they felt that even $25 was expensive. One agent was marketing a $700K custom restored farmhouse, and said he didn't want to pay more than $100 - and this would have been for a 3 hour shoot with studio lighting in almost every room.

I realize agents have to pay for their own marketing and advertising. If you're listing homes for several hundred thousand dollars, have you ever considered professionally lighted and composed images?

I worked for a start up in 2000 called uReach.com. Unified messaging, that's what Grand Central looks like. uReach used to offer free trial accounts with your own 800 number. It's definitely a great type of service.

Anyone here going to the Metropolitan Real Estate & Investors Association - MREIA - meeting at the Woodbridge Hilton on 3/17?

Aly

Thanks so much Pete. Do you mind if I PM you with additional questions?

Hi Peter,

I'm also in central NJ, on the other side - Monmouth County. I'm just getting started in REI and would appreciate hearing more about your activities. There are very few deals in this area. Houses are still very high priced, even bank owned.

Thanks!