All Forum Posts by: Joseph Guzzardi Jr

Check state laws first, but if allowable try to agree to keep the sec deposit and move on quickly. 

Start building your buyers list first. Need to find out who the legit buyers are in the market area & what your buyer's criteria is. Think of it like any other business. Would you open up a store, buy a particular product and NOT know who is ultimately going to buy the product? Of course not! Find the buyers and their respective criteria, then go shopping for what deals fit the buy box. 

Lastly, make sure there is a volume of the product these people are looking for. +200 transactions/yr roughly

I've used Instalend, based out of NYC. But can close basically any type of investor transaction. 

 Easier, quicker, more efficient to find a scratch and dent stove installed/replaced for $500-$600. Have a convo to get the prior tenant to maybe contribute, but doesn't sound like they will be open to doing so regardless. Save your time and move on. 

@Kristen C Bailey Welcome welcome! House Hacking is the best and simplest way to get started on your investment journey. There are plenty of experts in the community. Multi family the way to go

@Erik Pierson It is definitely possible to be successful working a 9-5 and investing. I have myself to prove it. You ultimately need to be very efficient with your time, continue to be motivated and not let anyone get in the way of your goals. You will get tired, there will be late nights and weekends you sacrifice for your RE business, but at the end of the day it will pay off. You also need to learn to leverage other people's experience, knowledge and money. I've strictly stayed in the investment space up until just recently where I've begun to lessen the time in my W2 for Real Estate.

@Wayne Wu happy to provide any mentorship along the way. I'm a buy n hold investor in the small multi and rooming house space out of North NJ. Also have an air bnb down in Atlantic City and plan on more along the shore as well. Happy to connect further and answer any questions

@Orkeem Davis I agree with what others have asked and stated. Myself personally not a fan of interest only loans if that gameplan is going to hold onto this long term. I'd continue increasing value to the building, essentially by finding ways to increase NOI, but also consider longer term loan options where you'll atleast get some loan paydown as well. Currently have a 10/1 ARM for 20yr amortization on one of my buildings purchased 6 months ago

@Roopa Madihally forgot to touch on the flooding. The entire city is a flood zone. You want to be farther away from the bay in terms of reduced risk

@Roopa Madihally I'm surprised to hear property values being in the decline in AC. I've been seeing nothing of the sort and ha e been investing in multi fam for 2 years there