All Forum Posts by: Ashley Guerra

After analyzing the local Mercer County market I've noticed there are not that many MFH that are desirable meaning cash flow can occur, but appreciation, schools and good tenants will be at risk. Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety. In addition, I live with my parents so even househacking will still cost me over $400 a month, which is what I pay to stay with my parents. 

My question is should I stick to a SFH in my local market in a good area or South Jersey? My purchasing power can afford me a house down there and I also work in South Jersey (Cherry Hill) and live in central jersey. What's at risk is it may not cash flow and renting is not so common in South Jersey, but I would feel more comfortable investing in a good area where schools are decent to good, and tenants are likely to care more. I would then plan to use this forced equity (since I plan to buy a fixer upper) to invest in another home.

I have been constantly reading to househack right into the MFH, but this may take some time for me to acquire the money and purchasing power. Are there better ways to funding this? The current leverage my family has is their home equity, but I honestly plan to invest within the next year due to capital shortage. I have ALSO heard its not about timing the market rather time IN the market, so this is where a SFH could potentially be "easier" to find.

Im constantly in a headspace where I tell myself I have to get really creative to finance a MFH or come in with a 5% conventional loan and fixing a MFH to force appreciation although cash flow may not be there the first year or two. 

Similar with a SFH: I can at least get in the market with a 5% conventional loan not expecting cash flow but hoping appreciation will help me out in the next 2+ years and I will at least be able to put up the remainder of the expenses since I do live with my parents.

I am young so I could be overthinking, but my end goal is to have a portfolio where I can cash flow enough within the next 5-15 years to let go of my job (5k clean a month). Im 23 and will continue to work until 30-35, and by then I would be able to either continue working BY CHOICE rather by necessity. 

Thank you for your response Dave! I'll start setting those chats up to hear what valuable information they can provide

Thanks Anthony, I'll look into these !

How is that area? I am a little familiar with it I went to Rutgers University and my friend lived near the area, and I'd visit often but know little about renters and such. I see it as a rising market, but honestly not sure if it's on the rise

hello all,

I am an aspiring real estate investor and I have a few questions when starting out. I am currently in the process of eliminating all my debt (about 7000) and then resume my savings. I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan)

My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market? A lender? A mortgage loan officer? Estimates of how much pmi, closing costs, etc.

I am aware that Central Jersey, my market, has some aids that will allow me to purchase my first home, like HUD covering 15k of closing costs, but who can know more about these things? Again im not sure if it could be the lender, a mortgage loan officer, do they work together, or do i hire them separately?

I guess i would like to have clear goals on what to aim for when i save money and understand who i can reach out for such things. With a lot of terms, things could get a little confusing for a younger investor. I have been doing my fair share of readings but i have a lot of questions that pop up and wonder who i can reach out to

More info on my financial status if anyone is willing to give recommendations:

10k in roth ira

3k in high yield savings (paused to pay off debt)

6500 in student debt

200 ish in credit card debt

estimated 4.5 months to pay off.

2 current part times (only been at each a year)

expect to go full time on 65k salary working at brick and mortar bank and use college transcript as 1 year and pay stubs as other forms of evidence of a job

father will be able to aid 20k as gift and if need be added as a cosigner for better approval rates.

my goal is to save 50k, debt free and look for houses, however, could this be done sooner with other

thank you for any and all advice !

hello all, 

I am an aspiring real estate investor and I have a few questions when starting out. I am currently in the process of eliminating all my debt (about 7000) and then resume my savings. I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) 

My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market? A lender? A mortgage loan officer? Estimates of how much pmi, closing costs, etc. 

I am aware that Central Jersey, my market, has some aids that will allow me to purchase my first home, like HUD covering 15k of closing costs, but who can know more about these things? Again im not sure if it could be the lender, a mortgage loan officer, do they work together, or do i hire them separately?

I guess i would like to have clear goals on what to aim for when i save money and understand who i can reach out for such things. With a lot of terms, things could get a little confusing for a younger investor. I have been doing my fair share of readings but i have a lot of questions that pop up and wonder who i can reach out to 

More info on my financial status if anyone is willing to give recommendations:

10k in roth ira

3k in high yield savings (paused to pay off debt)

6500 in student debt

200 ish in credit card debt

estimated 4.5 months to pay off. 

2 current part times (only been at each a year)

expect to go full time on 65k salary working at brick and mortar bank and use college transcript as 1 year and pay stubs as other forms of evidence of a job

father will be able to aid 20k as gift and if need be added as a cosigner for better approval rates.

my goal is to save 50k, debt free and look for houses, however, could this be done sooner with other

thank you for any and all advice !

 this is great thank you so much !

Hello everyone,
I am 23 and looking to get into my first real estate deal this year. Why? I figured if the numbers make sense (i will get to those in a minute) and i can afford the house worst comes to worst, meaning not defaulting on the loan, Iam willing to invest in the property. I'm currently looking for a multi family (2-4) in my local market: Trenton, NJ. Homes ranges 250-350k. most of these homes need renovation minimum 10k most of the time. Now with that, I would want to go in fha203k loan or simply fha. 

Financially speaking, I'm still saving, but the goal is 50k saved up (all costs: closing, fees, down payment, portion of rehabbing costs) by this summer with my fathers help on the cash all while I continuously save 50-80% of my work checks to fund for rehabbing this property and I work off my second job and "survive off of that."
I currently live with my parents so my DTI is less than 43% for sure.
credit is good
currently have 13k in a roth ira, i have been reading i can use up to 10k tax free one time, should i leverage this?

Now, why summer?
I finally start my full time job, report 60k a year, which is not very high considering where I live and my home purchasing power. Now I have a question regarding when I can use my college degree and job as "proof of two years work" rule: when can i show consistent paystubs where i can be considered for a mortgage loan? 1 month, 2 months?
I don't plan on leveraging my dad at this point since we wont qualify for an fha loan if he is on the contract, so I heard.
With this said, how does this plan sound so far?


I am a planner type of person and am trying to build my own guide for home buying. I am aware of the home buying process from reading but I can imagine its like a bunch of gears working at once. I had a last question about when or if I should hire a buyers agents, assuming im preapproved and im at the point of finding a deal: do I hire a real estate agents or home buyers agent to find a home that fits my criteria? Or is this even their job? Also, is it rude to leverage multiple agents to see which one finds you a property first or using his contacts even though you didnt close with them? 
Even from all the reading I feel these things are unclear from a newbie investor

Thank you all! Any help is greatly appreciated

hello everyone,

just had a question on the home buying process. When is it that you get a buyers agents/ where do you find them near me? lets say ive saved up, got preapproved, do i then get buyers agents to look for homes for me?  or do i get a real estate agent that will look for a property that fits my criteria? Or am i the one who has to do the searching? 

is it rude to "use" multiple at the same time to see who can find you a property first (assuming they find it for you)

any help is appreciated!

any tools that jersey locals use for our market or have helped you close on deals or watch market news, etc?