All Forum Posts by: Erin Murphy

I’m looking to buy a single family in Warren County. Is anyone looking to sell in Phillipsburg, NJ area? 

I've heard a few lenders say they can't help a first time homebuyer with DSCR.

I’m a first time homebuyer looking to purchase a single family rental property in NJ. I’m self-employed, so most likely won’t be approved conventionally. 

Are there any lenders who allow 20% down DSCR for a first time homebuyer?

If not, do I have any other options at 20% down? 

Thank you!

For the past few months or so I’ve been “scoping out” areas to buy & hold in (LTR). 

Yesterday I checked out a few properties in Phillipsburg, NJ. I found a few that I liked, price and condition wise. Listing prices/property taxes are awesome and rent prices look good as well.

My concern at this point is the average DOM for rentals. I saw a few that rented in about 2 weeks, but majority of them sat on the market for 40-60+ days. 

Does anyone invest there? What’s your take on the area in general?

I'm looking to purchase my first SFR in NJ, and Trenton caught my eye due to the low entry point. I visited a few properties out there last weekend, and I'm thinking of putting an offer in on one of them but I'm not sure if I should. After reading through a few old forums about investing in Trenton, I'm a little nervous. The property in question is a SF currently rented MTM at $1,650. It's very close to the Cure Arena. Is this considered one of the good areas? Are houses appreciating?

If you have experience investing in the area, I would appreciate any advice!

Good morning all,

Looking for a little advice since I haven’t sold a home in this condition before.

My seller had work done without permits years ago… basement with bathroom, whole kitchen and upstairs bathroom. Now that she’s looking to sell, it is my understanding that she will either have to revise the issues herself, or sell the home as-is.

If she sells as-is and discloses the issues, the buyers will then have to assume the responsibilities such as paying the possible fines, getting the work up to code, etc., correct?

Thank you in advance!

@JB B.

As an NJ Realtor, we use NTN (National Tenant Network) to screen potential tenants for our clients. There are other companies to use, but NTN is standard. Like Jonathon said, your agent should be providing you with these reports in order to decide whether or not you want to move forward with the tenant.

Hi! I’m a 19 year old NJ Realtor with around $20k saved up. I initially thought I would start off by house hacking a multi-family house in NJ, but I’m not sure that will work out right now due to the crazy market and my income.

I started thinking of alternative strategies, and am now thinking of investing out of state. In a few months, I will potentially be able to purchase a home in cash in an area that has low market value, but high rental demand. What do the seasoned investors think? Do you have any suggestions for what areas to look in?

I appreciate any input!

I’m a Realtor looking to get into Wholesaling but have some questions and concerns. I know I’m able to wholesale while licensed, but is the process different? How do I go about finding distressed properties in my area? What’s the best way to reach out to the property owners? What happens if there is no interested end buyer?

Personal question: What do you think is the best way to start investing in real estate? Wholesaling, flipping,, BRRRR, investing in tax liens, house hacking, etc.? I am 19 and looking to invest as soon as possible.

Need some advice from seasoned investors, feel free to PM me!