All Forum Posts by: Carlos Rodrigues

Awesome!! I'm in Kearny NJ and it's amazing how you're able to find these deals in a hot market!! Congrats!!

Tomorrow in Elizabeth NJ is the Union County auction, which I've never been to but willing to check out.  I'm planning on bidding on a property in auction within the next few months, but need to see how they work first.  Anyone on BP going to be there?  If not any pointers..

Good evening I came across a deal that might be a "deal" .  Seller is Selling the property, asking $150,000.  He owes $105,000 but late on his payments $15,000.  How can I get this deal so he doesn't get foreclosed on and I'm still able to win.  How does wrap around mortgage work exactly? 

I did not pay cash I put down only 10%

Good evening. I posted on here a few weeks ago regarding a two unit property I purchased for $275k in Union NJ. I Rehabbed the both units for about $25k and its now all rented out totaling $3,400 gross. As a agent I look at the comps and I'm almost positive its worth at lease $380k- $400k. I 'd love to refinance the property so I can remove the MIP and hopefully get the HELOC loan so I can repeat.

Does anyone know any lenders here in Union or Elizabeth NJ that would be able to help me refinance? Would I be able to refi knowing i have the loan for only 4 months?

Any additional recommendations is appreciated, thank you kindly.

The problem I'm having is that the Comps all have 2 garages under the building.  But this one has a slightly bigger lot which also has a detached garage for 2 cars.  But the Appraiser only appraised the property at $505,000 which I don't understand.

I'm selling a a new construction property for a client and property didn't appraise and the seller is very upset.  The property appraised at $505k. Theres a $40k difference.  We're under contract at $545k.  The comps seem to be at $515k though.  Are there anything other ways to get the $40k or at least part of it, besides having the Buyer dish out $40k?  Anything I could say to convince the Buyer possibly?  Seller wants to cancel contract.

Hi, I'm looking at a property in Rahway NJ.  Its a abandoned 4 family unit thats for sale for cheap cheap.  Now the building is attached to another building/ property.  I was thinking of submitting  an offer on the Property but I'm not knowing if I can even rebuilding there would be possible.  What should I do before submitting an offer?

Good evening!  I have a unit for rent and I came across some potential tenants that want to rent the property.  They keep calling and stoping by the property to talk.  My only concern is that they are undocumented, and so I believe I can not check there background, credit check, etc.  They did offer to get a Co-signer and they're willing to pay 3-6 months in advance.  Should I take the 6 month in advance in rent or no?  Any additional tips when it comes to renting to the undocumented?

I Final purchased my first Property in New Jersey. Two Family Purchase $274,000 Rehab $25,000 ARV $340-350 " looking at comps" I purchased this property with a FHA loan, 10% down. Looking to Refinance "BRRR" strategy. Although that wasn't the initial plan, it was only to rent out. But I soon realized I got a better deal then I thought. Now my question is can I get a HELOC? Is there a seasoning period I'd have to wait? My plan is to purchase another property when taking out a HELOC, can this be done? Thank you kindly in advance.