All Forum Posts by: Jason Deutsch

Michael, 

As a Electrical Contractor in the Northern New Jersey area.  Just make sure whom ever you get has their license and permit up to date.  The state is really cracking down and the fines are heavy.  The inspectors up here could be a pain sometimes and passing inspections are very important to keep the schedule moving and keeping costs down.  Good luck with all your future endeavors.  Exciting to see local people making moves 👌🏽

@Krista Campbell I have not yet purchased my first property. I am in the process of looking at properties & still trying to educate myself as much as I can. Still looking to use creative financing. Either it be seller financing or private money. My best advice is to keep educating yourself & asking questions. Best of luck!!

@Krista Campbell

Any recommendations of Real Estate Broker/Agents in Heights, Jersey City section. Preferably one whom works with investors. Thanks!

Has anyone ever borrowed against their annuity to help purchase with real estate? Pros/Cons? Any info on the subject would be greatly appreciated.

Yes I'm interested in purchasing residential multi units. I am a big number cruncher. Just preparing myself and becoming educated so that I may make an offer based on what the property is actually worth & not be underwater because I was misled by inflated numbers. Honestly I don't know if I would even want to work with someone who would hide their information. Once again thanks for the insight!

Thank you James Wise. From your experience are most sellers willing to show a buyer their tax return?

When looking to purchase a multiunit property. How does one acquire the correct rent roll to see what the exact income and vacancy is of the property? I understand that pro forma data can be inflated to make the property look like it is receiving more income at 100% occupancy. How do I know that the seller won't make up numbers in their rent roll to make it seem that their property receives higher rents & is occupied at full? Thanks!

Jesse Waters thanks for tips. Yes I have considered renting out the house but since I took out an FHA on that one I'm afraid that renters may think the rent is too high compared to the other SFH in town. Yes I have been looking at duplexes & tris in jersey city. Figured with the extra money I could save by moving into 2 family I could tackle those next

So I am coming up with my first business plan on how to acquire my first investment property and I wanted to know if my plan was a good one or not.. My wife and I were considering selling our SFH & moving into a two family in a desirable area in Bergen County New Jersey. I would use an FHA loan for the low down payment considering I was planning on living there for a few years. I wanted to get a property that needed some work done on it so that when I do move out I can perhaps get rents that are more comparable to the higher ones in that area. Since I would have someone helping me out with the mortgage through rent this will also enable me to save a lot more money than I am now which I can reinvest in future buy-and-hold's and also the improvements on the property. Has anyone traveled this path?

thanks everyone for the advise!!