All Forum Posts by: Christopher Philbrick

@January Johnson

I really do appreciate your comments. I can attest that I have had 1 very good agent/investor and did many buying and selling deals with him before he retired. The agent/investor is not common and I am sharing my opinion based on my experience. I have found my best deals off-market, typically marketed wrong with no agent involved, surely that doesn't mean there aren't deals on the MLS, but the ones that changed my life were actually found on Craigslist.

I meant no offense and I still feel it is important to look everywhere for a great deal.

As an agent, how would you handle a no money down deal with your client?  Creativity gets complicated if you don’t have a large $$$ transaction, and people need to be compensated for their efforts.

I did have an agent delay collecting their commission for 12 months once.  That was nice.

Quote from @Kristi Kandel:

Quote from @Christopher Philbrick:

Campgrounds- This isn’t mentioned much on Bigger Pockets…. We have a defunct campground that needs work, but has huge up-side potential.  I would like to know if anyone has looked into funding for this type of project or if anyone has considered renting an annual lot and setting it up like a glamp-site.  We currently have 4 full hook-up seasonal 30’x60’ sites rented for $1000/month each.   We are adding 10 more full hook-up sites and have campers waiting to move in.  Tiny houses would be perfect here…. Please share your thoughts.  We are scrambling to make a good plan.

 I just got off the phone with a RV / campground owner and developer. There is definitely a business model there if you want to run the operations. It's on the smaller side so I'm not sure if that group is interested in it but think of it like a mobile home park from a numbers and development standpoint. 

Assuming you own the dirt what's the urgency to develop/expand as that will likely dictate your strategy. 

Buying the dirt- don’t own it yet.  I really appreciate the response!

We are marketing the event center and have had a few nightly campers in this season ($85/night).  Things are coming along, but slowly.  (Hurricane Ian pulled me away from the NJ project last fall to rebuild our quadplex on Fort Myers Beach.)😬

Campgrounds- This isn’t mentioned much on Bigger Pockets…. We have a defunct campground that needs work, but has huge up-side potential.  I would like to know if anyone has looked into funding for this type of project or if anyone has considered renting an annual lot and setting it up like a glamp-site.  We currently have 4 full hook-up seasonal 30’x60’ sites rented for $1000/month each.   We are adding 10 more full hook-up sites and have campers waiting to move in.  Tiny houses would be perfect here…. Please share your thoughts.  We are scrambling to make a good plan.

5 years ago, I bought a property with a single family house and a quadplex (5 units) on the same parcel.  I ended up paying cash for it because I couldn’t find a lender that had a financing product that “fit”.

Now, I want to sell it or refi it because I found a new investment and I could use the equity.

So if I am in a hurry to get funds out of this property, what is my best plan to move forward quickly?

Full rented, $4600 monthly gross income.  High demand area.

Sale price: $399,998

Run the numbers; 40% cash on cash is realistic.

The only real way to accelerate learning in real estate is to jump in with both feet.  Congrats!  The next one will be better, 9 months to go… 

I live in NJ, but have invested in Michigan and Florida.  I sold much of my NJ portfolio to get into bigger deals.  If you are interested we can meet -up and compare notes/goals.

Congrats on your purchase!  First generation home buyer at 26, wow!  

My son (who had a mentor) - bought a Duplex in Bridgeport, PA and lives upstairs, rents out the downstairs.

The next steps- rehab, rent, and research the next deal.  Ryan is pointing you in the right direction.  (But I have two “pro-tips” that will make you a millionaire by 30.)

$100K down? Or something else? I have bought, rented, and sold several properties in South Jersey and done very well on them. SFH, duplex, triplex…

What are you goals?

Quote from @Zach Edelman:

I just came across some good deals in Mount Laurel, NJ and Tabernacle, NJ

 How do you define “good deals?”  Everyone has a number of metrics, what are you looking at?🤔