All Forum Posts by: Joe DeLuca

Hi All,

So we got hit pretty hard from Hurricane Ida and need to replace two full HVAC systems in our Triplex. I understand that this doesn't qualify under the de minimus safe harbor exclusion. 

Is there any way to write off these systems in some way, or would it need to be applied to the basis? 

Anyone have preferred lender in NJ that is currently doing cash out refinance loans in NJ, namely Hunterdon/Somerset county area?

Thanks in advance!

Thanks Guys.  To clarify, I owner occupy the triplex, and looking to continue doing so. 

I currently have a FHA 203k loan, renovations completed, at 5% now, owe ~380k, worth ~$480k. I've owned the property ~1.5 years so I'm clear of the seasoning requirement

Hi Everyone,

Looking for recommendations for a Refinance Lender who works with NJ. Who do you like working with?

I had a bank lined up that did 89.9% cashout LTV with no PMI.. Unfortunately they recently discontinued that product.

I'm located in Hunterdon County, NJ.  Thanks in advance!!!

Read Set for Life by @Scott Trench.. and check out some blogs on FIRE & Frugality.  It sounds like you'd need to take a look at your budget in order to bolster your savings rate in order to A) save for a place or B) pay down your debt. 

In terms of housing, the best bet is whatever is the cheapest, whether that is renting or buying. If you can house hack a duplex which supplements you rent and pays down principle to something that is less that net $500 /month, then  that's the way to go..  Otherwise, it might be better sticking with family or finding a cheaper place, getting roommates and living like you're in college for a few years.

This is also coming from a guy who always worked two jobs through his 20's to make ends meet.  Best of luck to you!!

Great Meeting!!

Hey all,

What's your favorite place to go for supplies, namely flooring/carpet, other than the big box stores.. Cabinets, appliances, fixtures, flooring, Plumbing, electrical, supply, etc..  

I've hit up Morris Habitat for Humanity Restore with little luck.  I've also heard good things about Floor & Decor but haven't made it out there yet. I've been seeing a ton of supply places, but there's so many..  Looking for suggestions. 

Currently rehabbing a house and figured I'd pose the question. Feel free to give a shout out to your favorite mom & pop shop!!

Thanks in advance!!

@Jian Lin
1) get a library card & a Scribd or Audible membership

2) http://garifunainstitute.com/math/bpbooks.php : This list was compiled (by someone?) which shows what are the most common recommended books from the BP podcast ( i guess from the first 223 shows). I've been chipping away at this list myself. 

Hope this helps & Best of luck

Hey @Sunny Burns,

Great event & great to meet you IRL.  Looking forward to the next one!!

Hey @Gregory DeRosso.. Welcome.

2.  Check out Scribd - $9/mo with a good "unlimited" audio book selection.  Search the forums for what books are most recommended from the podcast and start there. I also like the Rod Khleif & investfourmore podcasts.  

When i started, i listened to all the BP podcast & BP Money podcasts as well.  From there, you'll get a good amount of lingo & strategies.

Otherwise, troll the forums a bit, research some local REIA groups, and start analyzing some deals. Getting some likeminded friends to bounce ideas off of is a good thing as well. Most of these are free or cheap in terms of investment and the return on time is great!!