All Forum Posts by: Eli Gur

@Drake Johnson @Alex Capozzolo

Same here, following up.

Any updates?

No idea?...

Anyone with help for me?  Thank you

Hi everybody,I am looking for fix and hold Multi family, in the Newark Irvington and East orange NJ areas,

My focus is to do the BRRR strategy, to fix it up and get back my money by the refinance.

I am searching on Zillow Trulia Redfin Realtor Etc., and calling everyday lots of listing agents and buyers agents for on market and off market deals,

All on market properties goes under contract for much more of the asking price with no room for my goal. 

The answer from everyone is:  "Sorry, this kind of deals does not exist in these days anymore".

I am doing this for the last few months with no results...

Some agents are telling me to wait a few months for new bank owned properties,

Is that the truth?  or there is any other way to find these deals? 

Or I just need to change my focus and stay inside with sitting cash? 

Any help from my BP friends here will be greatly appreciated!

Thank you to all of you! 

 

@Harold Valencia  @Tristian Cox 

Thanks @Joel Thompson @Kerry Boyle

Hi everyone. I would like to hear updates on this conversation.This is going back 2-3 years ago , and i see recently-in the past nine months a lot of houses were sold in the area of 1&9 and the port.

-Did the market improve that people started investing?

-Someone mentioned an issue that tenant there are low class and don't pay the rent. Any update on this?

-How many blocks around the 1&9 have these issues?

Appreciate your help.

Thank you

Thanks for the info, let me clarify my questions. Basically, If lets say I want a loan of 200k and additional 50k for construction. Will i need to put down payment for 250k or only 200k and they will give me 100% construction without me putting down anything towards that? The 10-12% apr is for the home loan and construction? Is the APR divided by 12 months that if i pay back loan in three months i save some $$?

I am new in the field and trying to gather the most info before jumping into my first deal. 

Thank you all for the info and advice!

hi, i would like to know how a hard money loan  works, they give me the money for the hose and also for the construction?  and the down payment is on both? or the downpayment is only on the money for the house, and on construction they are giving 100%?.   how does the intrest rate work?     thanks for the help.