All Forum Posts by: David Klein

@Virginia Marphis thanks for the input, the property is in NJ. Just don’t want to have an unexpected cost that could turn a good deal into a bad deal. Thank you

@Stephen Kappre so in south jersey are there 2% rule properties or is that less common? Also I saw Paulsboro has some MFH and SFH on the lower end but not sure about the area and if it’s worth it? Thoughts?

@James Masotti good to hear from you again been awhile since we last talked (ABE8 for life... lol). I am trying to get started to create some long time wealth and would love to work with others to learn. I am willing to make it Mutually Beneficial but right now I am working 80hrs a week at my W2 job. Thanks

@Stephen Kappre thank you, it’s a dirt crawl space with mold. And the agent hasn’t provided a copy of CO and a request was made over two weeks ago. The plan was to remove any Insulation if any was present, spray and apply vapor barrier but I did not go into the crawl to see extend as it was difficult to get in.

I recently look at a SFH that was listed for 99K in an area that houses would sell for around 150ish, due to location this one is prob closer being valued at 130ish. I was trying to buy and hold it and offered 75k, figuring a rehab budget of around 25K if I added a duct work and new HVAC system (heater/air conditioner), some normal drywall laminating, floor refinishing, and exterior rehab. The owner agreed but stated the proper had mold issues and was quoted it to cost 6k to fix. I came back at offering to split it and they stated they never got documentation for the oil tank removal and would have to pay for that and would not pay for any portion of the mold Remediation. I asked for the name of the company for the mold quote and a copy of the CO docs (due to the agent stating it failed for two minor items); however after repeated email, calls and texts still have not heard back about any of the requested. The proper prob could rent for around 1600 a month which after Reno would be almost a 2%, should I just offer the 75k and deal with the mold myself (just worries the 6K number may not be accurate)? Or is the lack of communication a sign to walk away? Look forward to some advice, thank you.

Hello all, I am looking to link up with a good deal, I have been told that wholesalers have good deals but the only ones I am seeing don’t leave any meat on the bone. I am in south jersey and would love to find a couple great deals. I am working with a realtor but everything she finds is generally off mls and doesn’t tend to plan out. Any help out there? Thank you

@Stephen Kappre ok I will have to look I am not afraid of work, just do t want to invest too much to as it makes it difficult to make sense. Thanks

@Stephen Kappre can I ask what areas in south jersey have Multi family homes under 100K that are not in Woodbury?

@Stephen Kappre that is great advice I will check into Those Multi homes, looking at one or two but in the 150ish range but in a decent area not sure about getting the 2% though. Thank you for your insight.

Hello all, Ok I am a newbie and haven’t gotten my first investment yet. I have looked at 25 houses and put several bids (unsuccessful), but nothing yet. I was looking for something under 100K to shoot for the 2% or there about rule but am having a tough time. I am only about 90 podcast deep and am wondering if this concept is still solid? I am not considering buying a investment property at 100-140ish but am worried the return will be 1-1.3% back from rent, is this still a good investment? I am in south jersey and figure a 3-4 bedrm with 1-2 bath will rent for about 1500 in my area so that where I am getting my line of thought. I am listening and reading everyday but want to get involved what is a good step besides looking on MLS and working with a Realtor to look at properties? Any advice is greatly Appreciate thank you for your time. Dave