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All Forum Posts by: Jerome Adams

Jerome Adams has started 7 posts and replied 31 times.

Post: New Retail Investor looking to get insight into local market

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hey BP! 

I'm currently working with my partners through a single family rental in the local Philadelphia market, but we are also continuing to pivot into the commercial space in a few niches(retail, large multifamily, industrial/flex). I really want to dig into my local south jersey market, and would like to partner with anyone that currently had access to some of the software? 

Are there a few other ways to access the market research to validate some opportunities I see locally? I see Reonomy and Costar are the big players. I'm here in south jersey and would love to connect with any one currently active in the market!

Post: Recs: learning materials buying/selling businesses

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hi Sarah,

Hope all is well! I've actually ramped up my journey into commercial real estate once I realized the similarities to business acquisition. It's really exciting pursuing once you realize the opportunities out there. I've actually just submitted a LOI on an engineering business(one of my niches) ,but I can tell it'll take some negotiating. I'd be happy to share some resources that might help if you want to shoot me a message. Would you be willing to share a little insight with me on the commercial market and what you've been seeing specifically with retail?

Post: Green investing question

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

@Sven Salvador sounds great, would love to connect! I'll shoot you a message

Post: Contractor for 203K repair

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12
Originally posted by @Dave Spooner:

@Jerome Adams When you apply for your 203k, you will be assigned a 203k Consultant. There role is to be your advocate through the process and ensure your contractor is offering sound bids and providing good work.

Now, it doesn't always work out that way, but generally, incentives are appropriately aligned and most 203k consultants do a great job. These folks are also extremely familiar with local contractors in your area that can handle 203k projects. I'd suggest starting there. Be sure to still do your due diligence with the contractor, but your lender will call references and investigate as well. The nice thing about the 203k is that there are a few people involved to watch your back.

Best of luck!

 Thanks Dave ! You helped me kick off my google search on what to look for. And now this is another tool in the tool belt as I look at investment properties here in the area.

Post: Contractor for 203K repair

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12
Originally posted by @Vaughn Smith:

@Jerome Adams make sure that you talk to a lender about the 203k program, many companies arent offering renovation loans right now due to covid, also make sure to check with the building department and city hall for the towns you're considering to see how much of a backlog they have on building inspections and issuing permits, the back log of applications and delays in many towns is quite long

 Hi Vaughn thanks for the advice! I'll be speaking with my lender this week. But I see the value in this for potential investment properties myself and my partners have been looking at here in south jersey

Post: Contractor for 203K repair

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12
Originally posted by @Rick DiAgostino:

I should also add that if you do a 203k loan you require to use a 203k registered contractor. So the work required can not be done by any contractor.

Thanks Rick I've been spending the past couple of days looking at the differences between a 203k and a homestyle one. This definitely has been a lot to look over but I'm glad I know now

Post: Contractor for 203K repair

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hey! I am looking at 2 potential fixer uppers in gloucester county for a personal residence that I was thinking for a 203k loan. I am new to this process but I understand that it needs to be done right and someone experienced in this area. Does anyone have any recommendations? I don't mind paying someone to do a site visit with me to get accurate numbers.

Post: Looking to connect with like minded individuals!

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hello Everyone! I am engineer who had a change of career and now working on my real estate investment journe. I have 4 parcels of land under contract that I'm looking to flip and currently searching for a multifamily property to get into using creative financing . I'm seeing a theme here! It may be a good idea for everyone here to connect and see how the REI journey is coming along and where they may be value to add to one another. Just a thought

Post: Looking to connect with land investors in New Jersey

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hi all, I'm looking to connect with those in New Jersey and specifically those investing in south jersey to collaborate on vacant land. I have been getting a lot of seller leads coming in recently but would like to connect with those seriously buying. Please feel free to send me a pm!

Post: Zoomeral Business funding

Jerome AdamsPosted
  • Rental Property Investor
  • Willingboro, NJ
  • Posts 32
  • Votes 12

Hey BP! Is anyone familiar with Zoomeral which is a platform where lenders & business owners are matched based on the borrower's profile and criteria? I've been trying to search all over google but I wanted to see if anyone here has used them for business funding?