All Forum Posts by: Chris Laino

@Asher Carr check your DM

I found a property I can get for about 100k and I think once it is fixed up I can sell in low 200s or rent out. My main concern is that it is in a "flood zone" although it RARELY floods. What is everyone's thought on investing in a property located in a flood zone? Will it make it more difficult to rent or resell?

Thanks!

In need of contractor for project in Central NJ (Middlesex County) for ~1,000 sq. ft. house

I'm looking to use the BRRRR method for my first real estate investment deal, but I'm feeling overwhelmed on choosing the right right property to do this on. What should I be looking for? How can I mitigate risk as much as possible and "know" I'm getting the right property to perform this on?

I am looking to purchase my first property within the next few months, but I am torn with where I want to start. I've been considering single family and multi-family (no more than 8 units), and ideally something local to me (central NJ). 

If I do the single family option, I don't know whether to go with a turn-key property that I can just hold and rent or if I should find something cheap that needs a lot of work and then rent/sell it.

If I do the multi-family, I would prefer something that doesn't need a lot of repair work.

Just looking for the best advice to get the first one under my belt!!

Thanks for all the replies. @Andrew Kerr, I've looked into that, do you have any links that were beneficial to you when doing the BRRRR/House Hack?

What does everyone think the best place to start out would be and why? Buy & rent, Fix and Flip, wholesaling, BRRRR, tax liens, or something else? I am in the NJ market.

@Roy Oliphant thanks for the response! I wasn't buying in hopes that I could foreclose on the property, just looking to make a little profit starting out. How is the interest percentage determined if you are bidding a premium (the auction started at 18% and gets bid down to 0% and once it reaches 0, then investors started bidding the premium) so how does interest rate get determined in that situation?

@Account Closed If an investor buys at a premium, does the interest get deferred to year 2, and if so at what percentage? Also, if the property owner pays right away, wouldn't the investor technically lose money since there is no interest being paid? 

Thanks!

@Chris B. I was buying in the state of NJ