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All Forum Posts by: Gabriel Santin

Gabriel Santin has started 5 posts and replied 10 times.

Post: Proof of funds with business partner

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hi all,

My business partner and I are looking to flip a property in Savannah, GA. This would be our first flip together, splitting cost and profit 50/50 with a hard money loan for what we cannot make up on our own. We are wondering how to go about showing proof of funds if the deal ends up being an on-market deal.

Any advice would be helpful. Thank you!

Post: Atlantic City Airbnb

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hello all,

I am wondering if anyone here owns or can give insight on Airbnbs in Atlantic City. Are they stricter than other places along the shore, if you can Airbnb condos, etc. Any information would be great please feel free to message me! Thank you. 

Post: Woodbury, NJ experience

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6
Quote from @Kelvin Urena:

If I may, why Jersey? I am from NY so I understand that side of the coast better than most, yet I just wanted to get a better insight into what your goals were for the future. 


 Hello Kelvin,

I am from New Jersey and work here currently so with the goal for my first property being to house hack, I am looking around most of South/Central Jersey. 

Post: Woodbury, NJ experience

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6
Quote from @Pat Mulligan:
Quote from @Gabriel Santin:

Hello everyone,

I am very interested in a property in Woodbury, NJ for my first house hack. I am wondering if anyone has bought property in the area or knows anything about the town as far as schools, transportation, crime, taxes, etc.

Hi Gabriel!  

Woodbury is my home (and favorite) town! I have family and friends currently living there and I go often as I live in Ventnor.  My mom's family moved there in the '40s; she, me and my sisters, and my nieces are Woodbury High School alumni.   My youngest sister has kids at Walnut Street Elementary and Woodbury HS and my other sister just retired from teaching at the junior high.  I also volunteer with the HS Band Parents.   So, I would say, I know Woodbury like the back of my hand.  I am also a licensed agent in NJ if you need help in that arena. 

To me, it's a typical south, South Jersey small town - but more developed because it is the county seat -- in its heyday, everybody went to Woodbury for their doctors, to shop, eat, etc. Of course, its modern heyday was the 60's and 70's. There are still (or again) plenty of retail, fast food, and a few good restaurants in town. 

Woodbury is about a 20-minute car drive to Philly via the interstate- probably its biggest draw. But it is a pretty town, too. Tons of historical architecture and a charming main street. In 1683, the founders came down the Woodbury Creek that flows east from the Delaware River and through town and feeds 7 small lakes.  The lake parks are great places for casual fishing, bird watching, kayaking, and ice skating, depending on the winter weather. I've heard the better residential areas of Woodbury compared to Haddonfield more than once. 

Woodbury is a historic town, with an awesome past.  It used to be really something in the late 1800s with a medicine factory, a glass factory, and as a  transportation center for the surrounding farms. It has had its ups and downs.  Later on, as the county seat and having the only hospital in Gloucester County( until the small one in Turnersville was built in 1965), Woodbury became very busy with professional offices and a thriving downtown.  Deptford Mall killed Broad St starting in 1978, prisoners started being sent to Salem County jail and the general hospital was recently moved to Mullica Hill. We still have lots of professional offices, but I think that is decreasing as the "locals" folks retire.

Woodbury still has a core of "old Woodbury" families  They really try to maintain the history while making it better. There are also lots of young families moving in-- enrollment in elementary and high schools is growing.  The city had started a few years ago cracking down on what had become a glut of slum rentals, so the look of most neighborhoods is getting better, too.  Retail on Broad Street still has a lot of empty stores but in the last 8 or so years, there has been a small resurgence, thanks to the local chamber of commerce (and no thanks to city council, imo).  What I find most hopeful is the art scene- there are some dedicated artists who are doing a lot in town including teaching the kids and hosting an awesome community fair-type gathering weekly.  There is a really good community there.  Woodbury is small and friendly. Most folks really get along. 

There is so much possibility AND there are a lot of disadvantaged folks living in town.  It is considered a "disadvantaged town" in official surveys. The schools are pretty bad- 2&3/10 on great schools.  The teachers used to stay until retirement but that is starting to go away. Poor administration and high admin turnover, plus the poverty rate, had caused this. Recently hired superintendent of schools came from Camden and brought a lot of Camden educators and admin with him. Some, are not very good. Like who wants to recreate Camden schools, anyway?  I'm related to a teacher and parent and hang around with a lot of them.  These groups talk about the uphill battle to help the kids get a good education despite disorganization and disciple problems. A good portion of middle-class and upper-middle-class parents send their kids to the county technology high school or private schools for K-12. 

Real estate taxes are relatively high at 3%, but a lot of the real estate values are low to compensate for that. It still is a decent market for cash flow, despite the higher taxes. Residents and investors complain about the taxes and blame the city council (most of which gets re-elected year after year, btw). The city council blames the school board. The problems in Woodbury actually come from both groups, but I still have faith. 

Public transportation is about as OK as any in NJ - which is a little more than bad. Buses run on the main roads. Being such a small area, tho- most can walk to a bus stop pretty quickly. The most encouraging is the old train service. If Trenton ever gets to it, there is a new commuter line slated to be built from Camden to Glassboro with a stop in Woodbury. Due to the growth of Rowan, that should be very popular and has already helped boost a less desirable part of town (sadly, I think that excitement has died already). That train line might come in after you retire and I am dead, sadly.

As for crime rates, you can find them on Scout and Niche. They are above the National rate in some categories but look at the residents' poll on NIche- 67% feel pretty safe and 33% feel Very safe in town. 100% feel police are very visible and very responsive.  (and they are- they built a police station that is their version of the Taj Majal a few years ago.  Nice folks, the Woodbury cops (bro-in-law is a retired sergeant). 

As cities' prosperity and desirability move like a sine wavy, I do think Woodbury is still on the upswing- tho very, very slowly. It really depends if the middle class gives up and flees-- I doubt they will, tho.  Like my family, they are involved and have no intention of leaving. The best thing you could do after you buy your house-hacking is get involved in local politics. lol.  Seriously, I think most people would like living there while house-hacking.  Looking for appreciation...... 

 Best of luck wherever you buy! 

P

ps- my new motto:  "my success is only limited by my technological prowess" 

I almost erased this answer by hitting the wrong key. ! 


 Hello Pat, thank you for all this great information and dedication to this response! I have looked at a couple places in Woodbury and may continue based off this information.

Post: Woodbury, NJ experience

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hello everyone,

I am very interested in a property in Woodbury, NJ for my first house hack. I am wondering if anyone has bought property in the area or knows anything about the town as far as schools, transportation, crime, taxes, etc. Really any information would go a long way.


Thank you!

Post: Questions for lender and agent

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6
Quote from @Tanner Pile:

@Gabriel Santin

For a house hack the lender does not need to be a portfolio lender. A portfolio lender may even tell you it is not worth their time since they usually do large loans for multiple properties.

I would also ask your lender if they have worked with house hackers before. If you're getting a multi-family property you can use the rents to help you qualify for the loan. Many lenders miss this. 

For agents make sure they also invest themselves but specifically if you can find one that is or has house hacked before would be ideal. They will be able to give you advice on their experiences and will know which type of properties will make sense based on what your goals are. Agents that invest but have not house hacked are still great. They just will not be able to relate to your fears of what it will be like to find tenants that are also roommates. 

Good luck!


 Thank you for this response Tanner, hope we can connect on here. 

Post: Questions for lender and agent

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6
Quote from @Jacob Hornberger:

Be sure to ask the real estate agents you’re interviewing if they invest in real estate themselves. A lot of real estate agents aren’t investors and don’t even know how to run the numbers on an investment property. 


 Thank you for this Jacob!

Post: Questions for lender and agent

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hello BP friends,

I am beginning the process of vetting lenders and real estate agents to help me purchase my first house hack. I am wondering if it matters whether the lender is a portfolio lender or not for a house hack? Furthermore, if there are any other questions for lenders and/or realtors you can think of that would be useful during this process please respond with them it'd be greatly appreciated as always! Thank you

Post: Getting started in Real Estate

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hello Azim,

I am in the same boat as you and would love to stay in contact about starting our journey's in REI. If this something you might be interested in please reach out to me directly!


Gabe Santin

Post: Finally pulled the trigger on BP Pro, next steps?

Gabriel SantinPosted
  • New to Real Estate
  • Hamilton, NJ
  • Posts 11
  • Votes 6

Hello everyone,

I have been contemplating BP Pro ever since I heard of BP about 2 years ago. I am 22 years old, I recently graduated college, and started my first full time job. I am looking to house hack around the Trenton/Hamilton area in New Jersey, but do not know where to start. I have >50K saved up and know that real estate is my way to financial freedom. I have read many books on wealth and real estate, but I still have analysis paralysis. 

I think the next steps would be getting a FHA or conventional loan with 3.5-5% down as well as getting in contact with a realtor. I believe that the best way to learn is from someone with experience. If anyone is in the central jersey area or knows someone in the area that invests I would love to get in touch about a mentorship/mastermind group. I am willing to do whatever it takes to start my portfolio and I look forward to interacting and learning from the BP community!

Thank you

Gabe Santin