All Forum Posts by: Eric Mass

My girlfriend and I are looking for suitable living quarters in the South Jersey (NJ) area. We're looking to keep our cost around 900-1000 a month. Looking for spacious 1-2 bedroom. Any suggestions?

@Brian Hall I can see how that will work in your favor. I hope you get a ton of info from those investors. That sounds like a great start. Good luck and thanks for the tip.

@David Semer thank you very much. I'm just trying to wrap my head around why it's so difficult here. But I guess if you can be successful here, you can do it anywhere.

@Judah Hoover I don't mind living the owner occupied status. It's a multi-family unit that has been abandoned for 2 years (according to the neighbors). It's a few blocks from where I currently live.

http://www.nj.com/news/index.ssf/2015/01/people_are_fleeing_nj_faster_than_any_other_state_moving_company_says.html

So NJ is my current home state. As many know, NJ has some of the highest property taxes in the country, the highest rate for residents moving out, and a whole bunch of other crazy taxes, clauses, rules that follow. One of them being that this state allows Dual Agency. I'm looking to buy my very first property with an FHA/203k loan, along with any other "First Time Home Buyers" Credits. I'm just not sure if NJ is the place to utilize these resources.

Any thoughts?

Thank you in advance.

Thanks @Brandon Turner . Thank you guys for making such as awesome website. There's to much information and to many opinions out there when it comes to Real Estate. And you and Josh make it accessible at the click of a mouse. Much props. Also, I've listen to the audio of your "No Money Down" Book a number of times. Most of the gaps in my knowledge were filled just by listening to and reading that book.  One day when you guys interview on the podcast, I'll make sure that's my answer in the "Famous Four"! I also just ordered "The Book of Flipping Houses" & "The book on Estimating Repair cost". Can wait for that. Good Luck to you guys and the everyone in the community. And all I can say is thank you. 

Thank you @Elizabeth Colegrove for that post. It's definitely a great way to look at things. It's easy to get overwhelmed with Real Estate, and Biggerpockets definitely alleviates a lot of that pain.

Ok cool. I'm going to have to check that out soon. Thanks for the info my man. By the way, I've been doing some "driving for dollars". Hopefully I can send some good deals your way.

So I've been pondering on a certain topic and want to make sure I understand it in its entirety. Let's say for instance, I come across a property for say $15,000. It needs another $10-15k in rehabbing. Once completed, the ARV is 65k. If I'm able to pay those cost (the property, closing cost, rehab, etc.) in cash in the beginning, how am I able to get the equity out of the house from the ARV if there is no mortgage? Or should I not pay those cost off in cash? Thank you in advance and much love.