All Forum Posts by: Eli Konig

Trenton - Mercer county NJ

Now (after convid) it takes about 9 weeks from whe you file a non payment eviction till when you have your warant of removal in your hands, it used to be quicker (5-6 weeks) but they added A negotiation tenant landlord confrence before going for trial.

Once you have A warant, the sherrif will serve it and do the lockout a few days later.

I hope this helps anyone with there due diligance..

I don't see anything bad with buying A portfolio if the deal looks good, it is not that common just because there are more people selling single assets then portfolio sellers, that's it.

In any case, make sure that your not fooled in with 1 or 2 bad properties camouflaged in the portfolio.

Keep going.

See this thread for A bunch of advise on this.

https://www.biggerpockets.com/...

Never Ever.

Don't tell your tenant to put drano on there own, if they pour to much than your pipes will get A whole and make a huge leakage, you have to know how to use drano.

I was actually in the same position, 

Cozy was not bad but apartments.com is a total disaster, I went to rent manager it is a very detailed and has multiple services and technologies but it is quite complicated for someone with a small amount of tenants, I know of some people that enjoy remote landlord . com as that is some kind in between, its not that complicated but not that dumb as well.

But keep in mind, you cant change your rental platform to often as tenants get confused and start losing trust, it takes time for people to get friendly with a new rental platform.

Trenton, has gone A far long way to the better in the past few years.

Those who are in the game can make a picnic, but those who don't know the place, and specially far and unfamiliar out of state investors might flush there funds down the drain.

Prices are going up.

Rent is going up.

There are loads of tenant inquiries.

Good areas are getting better, and some of the rough areas are getting stable.

You need more info to know your numbers.

In regards to your subject title, no, there are a lot of stuff that are really good and in fact true.

You always need to make proper due diligence, but for the records, lazy people are the ones who say its to good to be true, smart people make proper due diligence, and here and there they manage to pick up deals that are good and true as well.

Why would that be difficult?

lets say A tax lien investor has A portfolio with a face value of lets say 10M in tax certificates, it should be characterized as non paying notes, the lender will request a certificate assignment note that should be held in escrow as collateral and as long as the borrower pays his interest nothing has to happen, if the borrower defaults then the assignment gets recorded.

It become some kind of difficult when certificates start getting redeemed, unless the investor has enough certificates to always put as collateral instead.

The other way, is to add the lender onto the entity that owns the certificates.

In any case, if anyone knows A firm that does so please inform.

Thank you.

Thank you all for the info provided.

Does anyone know of A firm that would lend on A portfolio of tax lien certificates as collateral (A tax certificate is A first lien and most certificates get redeemed at the end but it has its own pros and cons).

Hi all, does anyone here know of A platform or an official bank (not individuals) that lends on the collateral of a loan note that you are holding?