All Forum Posts by: Jasmine Cotes

Well that's great that you see possible potential. I can definitely see that the process of improving the area will take some time but it won't happen if people don't invest their money and build up the area.  It would be great if there was some type of group to unify like minded investors to aid and promote in this development. I'm definitely in no rush and I think one of the coolest things about investing in this area would be helping to develop such a beautiful historic place and hopefully help provide the community and it children a beautiful place to live. I'm not really looking to invest in the area at the moment but would love to one day soon maybe buy one or two multi families and then maybe somewhere down the line be interested in partnering to buy a larger apartment complex.  I've honestly done very minimal research, I live near the area so I pass it all the time.  Every time I pass it I can't help but think what a waste of a beautiful area and the amazing potential it could have. Come on views of an amazing waterfall from your kitchen window!!$$$ 

Hi, just wondering what other investors think about the potential that the great falls area could have in the future if and after all of the development with the park is completed. The area is beautiful but the homes are crap. I would love to invest in the area but not sure a lot of people believe in the areas potential. Also wondering if there is some type of real estate investor committe or group dedicated to this development.

Hey, what do you guys think about my Preliminary Tenant Screening Form. I came up with the questions after reading a few articles on tenant screenings and thought this may help.  I'm having an open house viewing so I thought this would be a good way to screen out anyone that is not worth the time and effort of going into a full application process and also thought it would be a good way to keep track and review everyone that comes through.

@Ro Maga 

Yes Jersey is a tough place to invest in but I love it here so i need to figure out a way to make it work! The 203k sounds like an excellent option , thanks so much for the advise and i will be sure to watch my wording around the brokers , this post has definitely got me to be scared to death of mortgage fraud! lol

Just did some reading on the 203k it sounds great ! @Andy Luick I've been in my home for 6 years, great credit and income. I would really hate to sell this house so i think i will Refi conventional and do the 203k on the next , i think that will help with building the value of the home for the next refi to conventional down the line.  Im thinking a way in to the third home could be private lending, owner financing always sounds so odd to me , any suggestions on how to even being with that, would that be by a targeted direct mail kind of thing? Thanks sooo much for the help, this goal right now means the world to me and so does your advise!

Yes I definitely do have a lot of learning to do and I am eager and ready!  @Ro Maga, and I don't see anything wrong with my phrase its honest and blunt, i'm trying to find legal strategies, simple as that! sure the FHA scam thing or whatever you call it that makes everyone get all worked up sounds too good to be true but that's exactly what my original question was asking...what are the penalties and what are other strategies ? but I guess some people just like to look at the catastrophe in everything first, its nice to have that perceptive some time, but i personally like to look at all things in a positive light. Its all good though I got some great advise on here and that's what I came here for....and yes I read REI books and listen to the BP podcast all the time (which i love!) this is not the sole source of my education, but thanks for suggesting and i will be sitting with a broker next week!!

@Angelo Mart Seriously like i was an automatic scum bag for this question! lol in short i was asking if there was a possibility to make that illegal action into a legal option or for other options that could apply to that scenario. 

I like the 3rd option you mentioned with private lending a lot and i love the FHA loan rinse repeat thing Jay mentioned , i see both as being the most realistic approaches for me.

Thanks so much and will do! 

yes @Alex Franks jay definitely did! but he came around and decided to give me some good advise after a few jabs!

Thanks so much for that advise ! @Jay Hinrichs

Ok i get that they should be considered two entirely different things. but creative does not mean illegal, sorry your just not being clear, i'm pretty sure you mean well and are not trying to trash everything i say so please help! you are waaay more advanced in this game and i honestly don't care that i sound ignorant in this subject because i'm trying to learn, no same in this learning game at all!

Are you saying upgrading more than once would be prohibited? could i do this at least once since I am honestly upgrading!?

And are there real legal options I can look into that don't require 20% down, 6 months reserve on the current home and 6 months reserve on the new home? That is just not possible for me at this stage , whats out there any helpful suggestions welcomed please!

Copy paste a link, recommend a book anything please!

@Jay Hinrichs