All Forum Posts by: Chris Toedter

I am looking at a property to buy this is the break down.

Original Listing Price : 700,000

New Listing Price : 650,000

Taxes : 11,500

Insurance : 2300

Rental Income $7,600

Only thing is the SELLER knows it will appraise for around 600k and he is firm on 650k is it a bad investment to pay the difference in Cash to make up the difference???

@Mark Franks haha at least it's not just me I see your from jersey do your answer is very accurate!!!

@Jonathan Greene absolutely agree with you how do I connect with poeple for off market that are not being blinded by the agents that say I can get you 200k over asking in this market blah blah, where are the poeple I need to work with I'm itching

@Lien Vuong yeah I know cash is king it just blows my mind poeple are willing to get such a small rate by putting 500k out there pocket.

@Greg Dickerson I do not have 500k liquid cash no, but poeple are putting that cash up. I have my letter of approval ready to go for well over asking. Just poeple are coming in for example on a 3 family listed at 500k all cash. I put in an offer 550k 10 percent down waived inspection.

@Jacob Sampson I live in New Jersey everything is over priced haha. Where do you suggestion looking?

I own a 4 family currently, and I am working on getting my next deal I must have put in 6 offers which all consist of 50k over asking and waived inspections. I have come runner up on places a few time but ALWAYS LOSE to CASH BUYERS I understand why but what can I do differently how do I get my hands on a next deal I am itching for a project.

Recently bought a 4 Family, they are all 2 bedroom 1 bath units. Just did a TOTAL GUT renovation on 1 of the units they were super outdated. What should I be spending on the entire renovation? Whats average? I like nice stuff I didn't want to go cheap.

Thoughts?

There are more towns in Northern New Jersey that have great rental, like Carlstadt (commuter town), Garfield has SUPER low taxes but no property every town has its pros and cons.

Yeah, its also not legal. Cant they loose there licence over stuff like this?