All Forum Posts by: Chris Baist

 Thankyou, that is my favorite suit! I'm a union worker and I'm usually in safety orange and dirty pants. Moving is not an option for my family and I at the moment. So I have to find a way to make my goals of financial freedom happen with the hand I'm delt. I have an aray of skills that most people do not. Side jobs are few and far between in my line of work but I do currently options trade the spy index when I see the proper entry. It's the source of most of my liquid cash.

 Currently I own a 3 bed 2 bath ranch 1700 sqft 1/2 acre lot. I purchased an apartment before covid when prices rocketed and sold it for 40k over purchase price. Then I put most of the profit down on my current residence and locked in at 2.75%. It's my woman, 9 month and me in the house so there's no option to house hack right now.

I had the perfect opportunity to have a solid start in real estate but at the time I wasn't thinking this would be something I want to get into.

I didn't know you couldn't do that under an LLC thankyou for informing me. I'm from monmouth /ocean but I was not planning on investing in these areas that would be financial suicide in my position. I had my sights set on south west nj, gloucester, Salem, Atlantic, Cumberland. I'm not afraid to travel either, Maryland Delaware Pennsylvania. I'm not even sure if getting my realestate licence is even nessicery. I believe in nj I have to work under a broker for 35 deals befor I'm allowed to go off on my own (not quite sure). It was more so to educate myself and have as much information as possible befor jumping into realestate investing

I'm in monmouth and ocean county. Nj is very cash demanding unfortunately and my thought process is to try and find an assumption mortgage to lock in at a low intrest rate and finance the equity the seller is looking for to move. I have about 10-15k to play with which should be enough to cover closing costs and have a small bit in reserve If I can't find a Tennant. I'll be doing this under an LLC and I'm not sure if my personal debt to income ratio will affect the purchase or if the LLC is considered to have its own debt to income ratio.

I'm in central NJ and studying for my realestate licence. I have a small chunk of cash that I would like to invest after I get my licence. My day job is 6am-230pm so there's alot of daylight left when I get out of work. What would you do if you had to start from scratch and still work your day job?

Hey I'm chris and I'm new to realestate investing. I also have low liquidity to start with but I'm growing the account as much as I can. If I'm not mistaken It sounds like your describing rental arbitrage but with the contingency to purchase. 

How would I go about finding a seller/renter that is willing to let me sublet the unit out?

Are there resources to specificly find units to sublet out? 

Hey pawaroon I'm almost in your identical situation. I'm in central nj, between my partner and I we have about 30k to play with. I've been running numbers trying to find a property under 300k with a positive cash on cash (CoC) return over 15%. Seeing how scarce these property's are has pushed me to look at out of state turn key property's. We live in one of the most expensive states there is. If a water heater goes on your property, all your profit for the year is gone and your 15% CoC turns into 1% real quick.

Hi I'm chris, I hope this isn't a redundant question. My soon to be buiseness partner and I are looking to form a series LLC in Delaware. We currently live in New Jersey. How do we establish an address to use in Delaware so we can utilize the benefits of a series LLC? Is it as easy as getting a P.O. box, using that address and forwarding mail back home?