All Forum Posts by: Dylan Pereira

@Darren Sager 

Yea I agree. I will PM you now, thank you Darren. 

@Darren Sager

Figuring out this more and more how Mortgage broker or any lender is key then everything else falls after. I read and read and formed a better idea on what I want in My first REI. My thoughts are living in a better area that's safe and has potential for appreciation, great tenants, and better schools. My happiness will grow from there, we are all different but Darren your right I will start with lender and move from there I never like wasting a realtors time since they work with commission and I'd like to be taken serious when I do approve myself soon.

Question: I asked Domenic this same question who posted in this thread. Is it a good idea to go and meet with a mortgage broker or lender now even if I'm not buying until months from now? Also is it okay to ask for contacts of professionals who are also REI?

Thank you for your input! 

@Domenic Bussanich 

In your expierence how do you go about finding investor friendly contractors and real estate agents? Howd you search and find the individuals that had a like minded approach in REI like your self besides there services being in sales and construction.

I have in mind of a mortgage broker in crandford that I have not yet met but read plenty of great things and the gentlemen has been in the business for 20+ years. Is it a good idea to meet with this person now even if I'm not buying until next year? Would this person also be a great way of asking for contacts with a realtor and contractors who also invest? 

I also have the option to open up a federal credit union account since my father works for FedEx and it'll be acceptable with family and friends. 

Elizabeth is great born and raised and I know this area really really well I can tell you so much about Elizabeth and its Areas. My grandmother owns a 4 family around stop and shop where Wells Fargo is which is a beautiful area but the miltifamilys in this area get under contract quickly. Glad to see people from NJ on BP looking forward on growing and building connections with all and thank you Domenic for giving me some advice!  

@Johnathan Boyle VA loans are great, I spoke with a mortgage broker yesterday. I'm not in school and two years ago I was not making so much. I'm okay in waiting for March 2018 always a deal whenever you start. Until then I will better prepare myself and of course I'll never be 100% prepared for my first investment but I can limit my mistakes by learning from those made the mistakes. I'm glad to see you doing great deals and I hope more success to you.

Cash flow expectations are all depending what route I take in my part time investing in the beginning. I will be living in one unit, I might buy a property with conventional and bigger down payment to put down mortgage and break even or have a small cash flow and creatively think of other ways of making money through my first property like Air bnb, parking, pets, basement storage, and etc

OR 

I can choose a different path like FHA loan and utilize the 203K Steamline or Full to fix up the house if it's a short sale or a house that needs remodeling and have a lower cost promissory note to payback and be able to cash flow with only unit and find other ways with the multi family to make money.

Outside of bigger pockets i like to get more involved with other who do real estate Investing and to talk more about real estate to build my knowledge and help others as well. I am always willling to meet on a weekend over coffee and tea and chit chat about everything ! 

@Victor So

Hey thanks for your input! I just bought 2 fantastic books today on BP " Rental propertie investing and Managing Rental Properties" by Brandon Turner. I will definitely look into buying "Tax strategies for the saavy Real estate investor" by Amanda Han when I'm finished with these two books. Saving money is key and I appreciate you giving me the write direction on saving and helping my REI. I'll keep you updated on my journey and I'll be sure to check in your you connect follow!

@Account Closed We live in great areas, in union and Essex county. 

On Trulia looking in Linden, Roselle, Union, Elizabeth( live in Elizabeth now), Maplewood, and hillside. I also love up north Belleville, Bloomfield, kearny, North Arlington, and Nutley. Unfortunaley for my first property it might not be up north since I will occupy 1 unit in my multi family and Be motivated staying close to my job in Linden. I have not chosen one town to buy in still trying to center it down to two towns and as soon as I find a great agent I will eventually be more decisive in my decision. 

What has you getting into REI and where do you stand on buying your first property or what are you doing to get there?

Thank you for writing in this thread 

@Caleb Heimsoth Nice call on the move and SFR sounds great we have so many in NJ waiting to be turned around. I'm glad you posted in my form thread it was nice talking to you. We will keep in touch and I'll message you through my journey and we can learn from each other!

@Caleb Heimsoth we will definitely stay in touch I have lots of questions so I'll ask for sure soon. Turnkey properties are great. Did you go with the FHA option or conventional for your first home?

@Caleb Heimsoth

When being preapproved did you use a broker or loan officer and why? Like to hear how you bought your first investment 

@Johnathan Boyle Save up more capital and consistency of a W-2 for 2 years with my work. I looked at your page I lived in Nutley for a few years now living In Elizabeth. I love up north especially by the commons and in Clifton.