All Forum Posts by: Account Closed

Jersey investor here. Even in the state that has the distinction of having the highest property taxes, 100% of my properties cash flow. It might be a good rule to be picky!

5 Votes

There’s no way to know within these parameters. Can’t solve for one variable with too many other floating variables. Wow that reminds me of multivariable calculus... Anyway, stick to your principles. REO is a numbers game, in terms of volume of offers. 70% of ARV may be a good place to start.

0 Votes

As above, it seems to be a privacy focus on the use of LLCs. What I’ve done in the past is create the Llc with the address of the property, I.e. a property at 123 Main Street would be owned by 123 main Llc. Easier paperwork tracking.

1 Vote

I'll parrot what's been said above. It's better to set up the process so that if they qualify to be your tenant they'll hear from you, as opposed to informing them that they do not qualify.

0 Votes

Welcome @Bryan Fried

How did you pick these 3 insanely expensive places to live? This coming from someone who has lived in all 3!

0 Votes

Originally posted by @Ken Virzi:

I am and always have been allergic to spending. Currently (not counting investment property income or expense), I spend about $500 a month total. I am really good at getting free food, I have unlimited everything on my cell phone for $22.50 a month. I do not pay for cable and utilities are included in my shared living space that I pay $285. I bet there are some months where I spend less than $400 easy. So I am saving up to 90% of my salary every month. It is almost like a game to me. Weird thing is, I did not learn this t home as my mom has always had a spending problem (not materialistic at all, she tends to spend on others, something I need to get better at actually)

Good for you, no bs. The financial independence movement and real estate investing definitely go hand in hand. Increase the supply side and decrease the demand side and -boom- you're done working, if you want to be.

0 Votes

Originally posted by @Sunny Suh:

Hey guys, so I'm actually thinking about doing a meetup this Friday at low fidelity, I'll be there at 7:30pm for anyone interested in talking about real estate. I'll also need to update this post.

11/8/2017

A lot has changed since January! Zillow has not given a funny estimate of 476k on my home, so not a bad investment at all.

I have worked with a realtor to find a tenant in March who has been paying, and had one$400 incident of pipes being clogged.

Also had a small $150 problem turn into a $2900 problem.

Overall was it worth it? Depends on when you ask me, but I've definitely learned a lot and stomached a lot of hits and still standing.

Overall, do I plan on buying another? Yes, put in an offer this past week for a condo but it fell through, I definitely want to scale back my next investment and willing to pay more. Good night!

Sunny, did the meetup ever go through? I just yelped Low fidelity, great to have an option like that in the area! Right before I moved out, the Hutton had just opened up, which was a good choice; the backyard seems like it will be hopping this coming summer.

0 Votes

This is the update that I never knew I needed. Great look!

0 Votes

First property purchased, looking forward to seeing the results and ramping up purchases pending results. For the most part, communication was good. Would like to see more phone calls as opposed to chain emails. I had to remind the property manager a couple of times to send contracts, through the liaison. Also would be good if they remembered that although they are steeped in this daily, the customer may not be. Lingo from title company necessitated multiple emails. I wouldn't consider the above even hiccoughs. Just some rough patches that could be smoothed out. Once again, overall positive experience so far.

2 Votes

Ha that wasn't my intent Engelo Rumora ! But you can be assured that it was definitely the recommendations in this forum and the podcast episode that steered me towards your company. So I will definitely be adding to the conversation; I don't expect to be the exception so I think it will be a positive one.

1 Vote

All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 53 times.

Post: Do most properties you buy cash flow positive?

Post: Chase bank owned REO

Post: Thoughts on using name for LLC.

Post: How do I properly reject an applicant???

Post: Astoria, Hoboken, Jersey City (Multi Family) Duplex, Fourplex

Post: can you come up with $400 in an emergency

Post: Diary of my first step: Jersey City NJ Multi-Family- No experience, no idea what i'm doing, no regrets

Post: We've Streamlined Our Notifications and Keyword Alerts!!!

Post: Ohio Cashflow LLC

Post: Ohio Cashflow LLC