All Forum Posts by: Christopher Guerriero

I am looking for multiple investors to join with in the New Jersey area. I am 35 and have been buying real estate for the past several years. I have had great success but I need help to continue with my investing success.  I have knowledge with all aspects of interior remodeling and renovations. I am able to perform the majority of maintenance and remodeling with the highest quality through my company, The Renovation Company, located in Clifton NJ. I have just gotten to a point where I can no longer perform all the functions from finding, to completing a real estate investment efficiently or effectively by myself. I would love to have partners who have experience finding projects with value add potential, positive cash flow, or just good investments in general. I also have a real estate license and currently manage and maintain my 8 rentals.  I also have experience flipping houses with one currently being flipped as well as experience with getting various types of loans and financing. Please reach out if anyone has interest or has any networking groups in the north jersey area. Thanks

In 2018, the township of Ewing NJ changed the definition of a dwelling unit to "houses with 5 or less bedrooms". Houses with 6 or more bedrooms became defined as "Commercial Rooming Structures". "Commercial Rooming Structures" must be registered as single family rentals and cannot be used as boardinghouse or roominghouses. The tax assessor changed the classification for all houses that fit the description from class 2 residential (1-4 family) to class 4c (apartments). Is it really legal for the tax assessor to take a home someone has owned for 20 years and change it to Commercial property, limiting his refinance and resale ability. It seems like this is a situation where you would be grandfathered in, am I correct. What kind of loan do you even get to purchase a made up property type? Let me know what you think.

There are new types of loans available all the time. First thing would be to ask the lenders if they are talking about a conventional mortgage, as that is the lowest rate but likely the most difficult and longest qualification/application. 3% would be almost impossible unless you bought-down the rate with a bunch of points and than you can get close. Conventional investment rates are usually at least a full percent higher than a primary mortgage but it changes every single day for each loan type. Investment properties requirements are just different