All Forum Posts by: Account Closed

Congratulations Gina! Thank you for sharing your experience and that very entertaining post. I enjoyed reading it a lot. I have yet to purchase my first property but intend to do so in 2018. Your post certainly helped and inspired me as I was having some doubts and fears that I may not find the right property, so thank you and congratulations again and good luck on your real estate journey!

Thank you Amy Beth! I appreciate your advice. I sincerely hope in the future I will also be of help to you. Thanks again!

Kevin Schaefer I have an agent that sends me an automated email with new listings for multis in Edison, but like you said there’s not a lot. I am open to other areas as well such as Montclair, Bloomfield and Belleville but my agent does not have access to the MLS there. I will definitely start looking for agents in those areas when I sort out my leasing issues as I don’t want to be wasting people’s time.

Amy Beth The $600 fee is one time. I’ve looked at other apartments in the area but it seems we are already in the lowest range as far as rent price for a 1BR. And I figure, it will probably cost me more than $600 to move. That’s why I was considering purchasing a condo for now because then our mortgage will definitely be lower than our rent. And it will be 2BR as opposed to the 1BR we are renting.

Amy Beth Thanks for your response. I did ask my landlord about converting my lease to an “open lease” but they are charging a fee of $600 each time I renew. Do you think it’s worth it to pay this fee?

Thank you @Erik Cabral, I appreciate your response. I will definitely look into the Hamilton area. Currently, I'm "stuck" in my rental lease until September 2018 so all I can do for now is keep saving for a downpayment and improving my credit score. But I will definitely start my search around April- May. Thanks again! 

Thank you @Andrew Beauchemin and @Ray Reed for the response! Roommate situation will not be ideal as my husband and I would like some privacy. FHA loan is actually what I was going to go for when purchasing a multi but I realize I won't be able to do that as a second property. I was just thinking of other strategies to get started and stop paying high rent as soon as possible. I really appreciate your inputs, thank you!

Hello all! I am a newbie and I originally wanted to start with a multifamily but there's not a lot of inventory where I'm located (Middlesex County in NJ) and other areas I'm considering. Im currently renting a 1BR apartment and every year, my rent keeps increasing and whenever I reach the end of my lease, I feel pressured to make a decision to renew it because I just couldn't find the right timing to purchase a property. With that said, I'm considering purchasing a "cheap" condo to possibly lower my monthly payment and hopefully have some equity within a few years. The extra money I will save monthly will be put towards downpayment for a multi and I figured it will be a bit easier because I won't have the pressure of finding one at a certain time because I wouldn't have a lease to renew. I understand the risks of investing in a condo due to HOA fees associated with it and no guarantee of any appreciation and the association not having sufficient cash reserves (not sure also what is sufficient). I would really appreciate your opinion/feedback as to what I am contemplating. Thank you so much.

Hello! I am looking for an investor-friendly real estate agent in Hillsborough, NJ. Does anybody have any recommendation?

Congrats Michael Rogers ! Thank you for sharing your story and inspiring us newbies :)