All Forum Posts by: CJ Moulton

Hello All,

For the last year or year and a half I have been hearing people (in person or online) saying that the housing market is bound to crash, with the inflated prices of most homes going down significantly. But then on the flip side I have heard of people saying that it's better to get started in real estate as soon as possible. It's obvious that you cannot predict every little thing, and there will be bumps in the road no matter the journey, I just don't want to buy a property just for it to lose a ton of value over the next few years.

Here's an example...

Say you were to buy a property for 250,000, and all of the sudden the market crashes and the property is worth 100,000. As an investor, what is the best way to go about this? Are there ways to prepare yourself? Is this just an irrational fear?

Any advice/insight on this matter is greatly appreciated, much love!

Hello All,

Other than taking advantage of the first time home buyers program, are there other strategies for decreasing closing costs that can be repeated for future deals? Is there anything within the closing costs that can be completely avoided? Does the state have any effect on this?

Any insight is greatly appreciated, much love!

Hello All,

I have been doing some digging in the Foreclosure world and found a Condo in my area. Everything seemed to be ok with it, I even passed by the property physically to see if I can see anything out of the ordinary. Thats when I started to look at the title of the condo. I found two condo liens attached to the property.

Based on the dates and documentation, it seemed as if the first condo lien was filed, and the resident started to pay off the debt. (Which was around $11,000 in unpaid HOA fees) Then nearly two years later, which would be now, another condo lien is filed and the amount due is $9,700.

Let's say I'm the lucky investor who gets this property with a winning bid of $5,000. 

1. Would the condo liens survive foreclosure?

2. If they do, does my bid go toward the unpaid debt?

3. If the liens are my responsibility after auction, will I have to pay for those up front?

Any insight on these three questions is greatly appreciated! Much love.

 So using the example I mentioned above, I (the buyer) wouldn't have to worry about the other $90,000, and I just bought a $200,000 property for $10,000? I feel like I am misunderstanding something because buying a property for that much sounds too good to be true.

 Is this deficiency balance paid immediately? or can it be financed like any other mortgage/loan?

Hello All,

Recently I have been reading up on Foreclosures, and I went online to look at some foreclosed properties (Auction.com), but there's something I don't quite understand...

I noticed that the starting bid for a lot of properties is $100. Now I am not expecting to show up to auction and get the place for $100, however what if the last bid ends up being much lower than what's owed on the house?

For example:

A property worth $200,000 has started the foreclosure process. The owner stopped making payments around $100,000. (To make things a bit easier) This means the remaining balance is $100,000, but let's say you get the property for a winning bid of $10,000. What happens to that $90,000? Would that become the remaining balance? Is the rest expected to be paid? 

I hope I have explained this in a comprehensive way! Any insight is greatly appreciated.

Let's say you have an investment portfolio of 5 properties. Would it be better to have a separate LLC for each property, or would one LLC suffice?

Are there different risks when having multiple LLCs? Are there more tax benefits? 
What are your thoughts on LLCs for Real Estate Investing?

I have been looking into Foreclosures in my area and found a few properties under Tax Liens. I do not know much about them, just that they are put on a property if the owner does not pay their outstanding property taxes.

As an investor, how do you get passed this? Is there a way to go about this without paying any of the taxes? How do Tax Liens differ from Foreclosures, and does it change the Foreclosure process at all?

Any insight on Tax Liens and Foreclosures in general is greatly appreciated! 

Much love.

Hello Everyone,

I am a 25 y/o looking to invest in their first property. I just recently graduated college with a whopping $170k in student debt. Now that I am done with school and have a solid job, I wanted to focus on side hustles I was interested in to increase income and eliminate my debt.

I've been doing my best to monitor today's market and house prices in my area. (South Jersey) However, things are pretty expensive in my area, I wanted to start out with duplex/triplex however any one that I find needs a ton of work or is just way too expensive for my budget. While browsing, I found some condos that are within my budget, however, others around me have always said "Don't ever buy a condo, they are bad investments and are hard to sell".

My question is...

Would it be a good idea to start out a Real Estate portfolio with a condo using the House Hacking strategy? 

Let's say I buy a condo, and rent a room out to pay for some of the mortgage. Then after a year or so, I buy another property and fully rent out the condo. Would this be a good starting point? Are there any points that I am missing when it comes to this plan?

Any insight would be greatly appreciated!