All Forum Posts by: Deven L. Richardson

Hey @LaMark Vaughn how was the bootcamp??? Was it all about commercial? 

Hey BP Community,

Has anyone taken the multi-family bootcamp course recently? I am possibly interested in the course, but the overview only mentions commercial real estate. Anyone know if the course completely focuses on commercial? I prefer to get started in residential. 

Thanks  

Hi BP Community,

My wife and I weren't going to look for our first home until the spring of 2023, so she decided to get a new credit card earlier this month. While casually scrolling through realtor.com, we actually found a house with the ideal number of beds and baths (Northern NJ) that's in our price range and the sellers are very motivated, and the numbers make sense. My question is if we pulled the trigger for a pre-approval, would lenders look at the newly opened credit card be a cause for concern? Any input would be appreciated

Thanks BP!

P.S other factors lenders look at such as credit score and job security is not a cause for concern.

Hi BP Community,

I've been using the BP calculators to get more comfortable running my numbers. We all know cash flow is hard to come by in today's market (especially here in Northern NJ). I'm looking to find other ways to produce more cash flow via laundry fees, storage, parking fees, etc. Are there websites I can use to find these fees? Thanks in advance everyone!

Was really looking forward to coming to this event and meeting the attendees and guest speaker who is speaking about multi family & house hacking (how I want to get started). Unfortunately, something came up last minute but I'll be on the lookout for the next one! 

@Cameron Moore @John Mocker Thanks you so much for your responses! I know I'm going to be analyzing a lot more properties before getting comfortable. As for the variable cost for utilities (water, heat, electric, etc.) hopefully I can have tenants pay depending on the market of course. 

Would love to come to the next one. Need to start networking and meeting like minded people. 

Hi BP,

I'm currently learning how to analyze properties so I can be more confident when offering on deals. I have one question though, how do you get estimates for utility cost i.e. electric, water, gas, garbage? I know the books say to contact local PSE&G, insurance agent, etc. but do I need to have a specific property in mind or could I just ask for the average in my respective market? 

Thanks for whoever answers and always looking to connect!

Hey BP Community! 

I'm a rookie who finally took the leap and got the pro membership so I can use all the features necessary to gain knowledge. I live in the expensive land of NJ, specifically South Orange and am looking for local investors to build relationships with and to find mentorship. Right now I'm in the process of searching for my first ever home for me and my wife and daughter. Ideally I'd want a multi family so I could rent out one unit that can help towards the mortgage. My second option would be a single family that needs some cosmetic work so I can create forced appreciation. Right now I'm searching homes and analyzing so I can get familiar and know my numbers!! The niche I'd like to focus on is buy and hold investing both in NJ and long distance. I look forward to meeting like minded people and beginning my journey to financial freedom!! 

Thanks BP!!