All Forum Posts by: Adam T. Veitenheimer

Haven't posted in some time. Since I was last on here I was able to create a company; flipping, renos and new construction all over my state. As of todays date we have 8 seperate properties all in various stages of the renovations. The point of this thread is to try and locate a solid company located within the Tri-State area that maintains a crew, can read prints, handle multiple job sites and doesn't need to be micro-managed so I can focus on what I do best, find good deals. 

The state of NJ does not require much more than holding active insurance and applying for a GC license for $150 to be able to advertise that they are a GC which is a problem. Many people (including friends) who work for a larger company for a year or two find themselves breaking off to make the "big bucks" with their own company after doing a few side jobs without proper expierence which makes finding good help that much harder.

I have several different companies working for me but they can't handle as much work as I can provide. Which I appriciate that they don't bite off more than they can chew because that would obviously lead to other problems down the line. However my company is looking to ramp up and double our efforts in 2020 and need your help!

In NJ, sq ft pricing varies from $50-$300 depending on what county you are working in. As the resale also varies from $200k-$3m+ as well depending on county all within a 2 hour drive in either direction from base of operations. Any kind of help with this problem would be fantastic, as for the first time in my housing career; money isn't the problem, finding quality people to spend it on is! Thanks in advance

This beautiful home features three bedrooms, 1.5 baths, eat in kitchen, dining room, large living room with hardwood floors, den, basement and one car garage. The basement was water sealed in 1994, a new roof was installed in 2004 as well as refinished wood floors. Within minutes to historic downtown Mount Holly which features multiple art galleries, one of a kind shoppes as well as many popular gourmet restaurants. It is also located close to Mcguire Airforce Base and major highways. Motivated owner, bring your best offer.

Congratulations on your first investment, I am a realtor working primarily in the Southern New Jersey area. I focus on investment and commercial properties, so if you are ever looking for your next investment, contact me. I run a basic analysis of all properties prior to sending them to my investor clients just to get past the first hump. I am also an investor myself.

 Sami I would like to offer my services to you, I am a real estate agent in southern New Jersey with focus on investment and commercial properties as well as an investor myself. Please let me know if I can be of assistance.

I apologize if this isn't the correct area to post this in.

I am searching for investors in the Southern New Jersey area. I have focused much of my real estate career on investment and commercial property types that produce high value positive cash flow. If you are in the area or looking to invest within the area please contact me ether through this discussion or PM. 

Thankyou for your time.

 The properties are 13 separate buildings along the same street. Some of which have several properties between them, so commercial loan would be the most likely source of financing.

A partner would be a wonderful addition to this great opportunity, however locating one would be a different story.

That is a great idea, unfortunately it is a REIT that own the properties so they were paid in full at time of purchase. But that is a great idea to use in the future. thank you.

I found an amazing deal that I am looking for help to initiate.

The Gist, 13 duplex properties; 26 2bd/1bth units currently fully occupied and renting at $700 per unit (which is low for the area, $750-$850 is more common). These properties are a bulk deal listed at $1,235,000. Taxes are approximately $1300 per month total for all properties.

After crunching the numbers, taking out for the payment, interest, insurance, taxes you are left with a cash flow approx. $14,000 per month. (not including PM, & Reserves for evictions, replacements, etc.) A property management company would be used to maintain these units at 8%.

So the numbers make sense that this is a great deal. So my question BP is, knowing that I would need a commercial mortgage to acquire this investment:

What options do I have as a beginner investor? I have liquid reserves available but no where near the requirement for the down payment.

Is it possible to get a loan for a down payment on this and then refinance both loans after a few months into a single 30 year, being that it is 13 separate properties?

Are there other options?

I appreciate any help.

           For me appraisal would be the ideal class in order to analyze properties you are interested in accurately and quickly; time is of the essence in investing. Property Mgmt. could also be a very useful tool depending if you yourself will be managing the properties vs hiring an outside company.

           However my experience with this school is not ideal. In 2006 I took their building inspection courses. "Graduated" but I found that a lot of the information they provided me was not recognized by other companies which made it very hard to find a position. I have talked to others that have also taken courses at this school and they say similar things. Again this was 2006, the school could be a lot different ten years later. Good luck with everything.

Unbelievably I am having the most ridiculous time trying to line up a realtor for an employee of mine at one of my businesses. I'm an agent in NJ trying to refer an employee of mine whom already knows which three properties she wants to look at, has pre-approval and is ready to make the move today. 

The reason I'm writing this is I have contacted three separate companies local to the Poconos area trying to refer them this business. Over the past three weeks, one per week I have reached out to on her behalf and not one will get back to her. Is there some sort of non-referral thing happening in that area? Is there enough investors in that area where my client can go by the way side? I have never had so much trouble trying to provide another person guaranteed pay.

In other words, does anyone on here work that area and like to close on a deal that is already in the making? If so please contact me.