All Forum Posts by: Brook Copeland

As a REIpro member I have found Chris and Bo and their services 2nd to none -  Yes some of the info is not as current as you'd like - but who's is? I have test run a number of these programs and this is the one I have purchased. I find their monthly Live  Q&A  very helpful along with their customer support. 

Interesting that Timmy K has not chimed back in. With a very thorough response from REIpro to his post, one can only summarize that he was called out and exposed. Just my $ .02

Hi All,

Would love any advice or networking opportunities for Central NJ as I'm still new to real estate investing. 

I'm looking into a property in Central NJ that after initial analysis could be a solid opportunity to house hack and build equity. However, would love advice. After listening to episode 392 with Todd Baldwin, the concept of house hacking while renting out by the room has been on the top of my mind. I have a 3/4 property in my sights that I feel I could turn to a 4/4 fairly easily. The plan would be to rent out essentially each bed/bath combo as 1/1's individually, live in one myself, and employ the strategies Todd uses (building in utilities, common supplies, cleaning services, etc. into the rent) to make it a seamless process for tenants. 

The catch here is I have my unfair advantage of potentially being able to find tenants for this area that others could not. However, I don't know all of the nitty gritty details around legality, watch outs, insurance, etc. to make sure I'm doing this right. I've reached out to a few local agents via BP messages, but haven't heard back yet.

Any advice on NJ regulations, watch outs for house hacking by the room, general house hacking advice, or anything you can offer of value would be great! Is this a good idea or not?

Thanks!

Phillip/ Zak

Hey guys. I live in TR and while this isn't a CF rich area per se - there are deals to be had.  But like in anything else - if you roll up your sleeves and dig in you will find success in any one of those areas you are looking in - guaranteed. As the saying goes... if you want to be successful in anything in life all you have to do is .......Do the things you don't want to do when you don't want to do them. Make sense?   Good  Luck !! 

A great book to read to get your mindset right is called "Go for No"

Best 

Brook

@David Greene - AWESOME job tonight on your webinar. You have a unique gift in the way in which you deliver material. You are ALL about it. Well done!

@Kevin O'Donnell Hi Kevin is Angelo with the Goodson Group? If not can you send me his contact info? Sounds very positive from your end. Thanks in advance 

Brook

Ryan 

Nice work! - House look great and your numbers even better... Is that in Holiday City ? 

Jason

Check out Vincent Polisi and his podcast and listen to Ep 6 and 7 very enlightening - seems to have his Dodd-Frank game on 

Sion 

From 1 Nj investor to another ... I get where you are coming from  I feel the same way you felt  Let me tell you what I found out..... When I look at a property and I need to do a 5-minute analysis to see if I am even going to bring it to level 2 evaluation  - here is what I use - I break it down into 4 levels ... Light rehab $ 10/sf  Med rehab $25/sf  Major rehab $35/sf   Gut rehab   $ 60/sf . This will put you in the market in central NJ ( I am located at the shore area) **** THESE are ball park #s for Level 1 evaluation - NOTHING ELSE .... This is your average C+ / B- vanilla neighborhood . Nothing extravagnt ... No historical .... no crazy situations. If you wanna talk further PM me . Hope that helped you 

Brook

Great post .....  Just recently came across another one called niche.com

Congrats - I think that's awesome. R U thinking BRRR strategy here ?