All Forum Posts by: Davon Johnson

Hey @Natalie Schanne thank you for the detailed response, that actually helps a lot. Can I ask what town your friend purchased in? And was her deal on market or a byproduct of direct to seller marketing? Will definitely start to make offers on properties through this lens.

Hi @Pablo Espin, I am offering an 8% APY with it going up 12% for extensions. I anticipate holding their money for 12 months, so I plan going for an 18 month loan. The second portion is less concrete as it depends on the respective property and the amount of work that it needs.

Hi Everyone, 

I am looking to buy more properties and have spoken to other investors/family about. Between both cohorts I anticipate having access to about $200,000. My goal is to use that money for multi-family/buy and hold properties. The nuance would be that I would need to pay investors back their money in 6-12 months. Can anyone advise me on how I can both pay back investors and keep the property. 

I am aware of cash-out refinances, but from my research there's typically only enough equity on single families to do this. Maybe it is my market (Live in New Jersey), if this is the case, please let me know which states and cities the cash re-finance method may be more conducive in. Just curious what the numbers need to look like to make the deal work in real life and how to get a seller to actually come to a number with enough equity to pull out all the investor cash. 

Thanks so much in advance!

Hi @Jake Korossy. I have also given some consideration to student housing. I am near the Rutgers--New Brunswick Campus and would love to pick up a property near the college avenue campus. 

But definitely sounds like we are interested in similar sects of real estate, we definitely should talk more!

Hi @Kel Balase, much appreciated! I have considered investing remotely. My preference would be to invest in-state, so for me to venture out of state, the ROI would have to be notably better than something I would be able to find in New Jersey. But I am definitely open to hearing opportunities that may be present in Texas.

Sounds good ! Lets stay in touch!

Hi Everyone, I am a newer investor looking to grow--both in the way of deal flow and in connections. I am resident of New Jersey and bought my first 4-family (in Somerset) last year at 22 and was initially excited to get the ball rolling, but good deals have seemed to be non-existent since.  I am hoping to connect with other investors in hopes of identifying more opportunities. Any pointers or general contacts are warmly welcomed. 

I am open to both flipping homes as well as purchasing multi-families for buy-and-hold's. 

To better gauge suitable deals/advise, here are general notes: 

1. Age: 23 Years Old
2. Location: Live in Central New Jersey
3. Income: $115K Net (From Rental Income and Full Time Job)
4. Credit Score: 765
5. Experience: Own one 4-family. Renovated all units and increased rents 40% to market rates.
6. Access to Investor Funds: About $100k (But would need to be able to pay back in about 6 months-year). Total access to funds: $160k
7. Preferred type of investing: Flipping single families and/or buy and hold multi-families 

I would like to pick up more properties (especially apartments in the 4-12 unit range), but given the fact that most money is investor money, would need to know how to consistently get the money back out to them. 

Any pointers and networking opportunities would be greatly appreciated. Would love to pick up 12 or so units over the course of the year. Thanks!