All Forum Posts by: Hugo Alves

Look into private and hard money lenders. Key with using these options is to buy the property at a great price so when you refi in 6-12 months, your cash out will cover the loan and all cost associated with it. Always remember, you make your profit when you buy not when you sell Hope this helps

wholesalers, asset managers....? marketing to your farm area. Not sure if this is what you're looking for.

@Jason DiClemente sounds like it's a requirement for that lender. Other lenders will lend without an LLC. I would recommend shopping around for the right lender for what you're trying to accomplish.

@Lo Lormejuste What's your strategy? Wholesaling? Do you currently have properties UC?

month to month leases do not require a reasoning for eviction but they do require a 30 day notice in NJ. reference link below https://www.landlordology.com/new-jersey-landlord-tenant-laws/

Justin,

From what I've read, people take many different approaches on this. To my understanding, a LLC is to protect you and tour personal assets and create separation. If something happens to a tenant within a LLC, they can attack your asset within the LLC but your personal assets are protected. I'm not a lawyer, but this was the concept of my thinking when I created mine. Lsstly, be cautious of moving any properties with an existing mortgage into any other entity, it's unlikely but the mortgage holder can call the loan due, if the entity is not vetted through them and approved to take over.

Andrew,

If your looking in Newark, 07105 is the better location from a crime perspective and distance to transportation into the city. Areas of 07104 are good as well, better prices, lower taxes, but the commute is a little longer.

Outside of that, Carlstadt is a decently priced area close to the city as well, not sure how is compares to the booton area.

Andrew,

Where about in North Jersey are you looking?

Kevin, Do you have properties outside your market? NJ?

Colton,

Add it to the contingencies. Seller should rectify the situation before closing. Signing a lease with a non owner is not a legal binding contract.