All Forum Posts by: Joseph Guzzardi Jr

@Dave Tab Hi Dave. I am an investor agent who has a portfolio that spans from Essex down to Atlantic and Cumberland counties. I started with small multi and now focus on Rooming Houses and the occasional small MFR if it's a strong deal. Happy to answer any questions and assist.

@Ali Khalid Going to be extremely hard finding cashflow in north NJ when you are leveraging the asset at 96.5% at today's rates. My suggestion would be to get creative, consider renting out by the room after you close, but this would require a vacant property or at least a vacant unit. In terms of appreciation, if you hold onto the property long enough in NJ, especially north NJ it will appreciate. Having said that, not necessarily something you should be banking on.

@Alexander Grullon Go to meetups/networking events and hit the phones brother

@Nicholas Jose you will have to consult with your attorney regarding the current lease. I hope the daughter who is causing the trouble is in the lease. I am not an attorney but it looks like you are going to be dealing with this for quite some time one way or another unfortunately. If you need any other guidance or vendors/attorneys I'm happy to help

@Hector Serna keep motivated and truck along my friend. For the 2nd and 3rd instance, in my opinion you should have been working with better professionals. How was your agent and/ or attorney not aware about the tax situation or size of the lot you were purchasing towards the beginning of this.

Regarding the water shut off on a short sale, I once again allude to not being guided properly by the professionals you are working with. It should be noted either in the MLS or on your initial tour that the water was shut off. Therefore in your offer/contract state that water MUST be turned on to properly evaluate the property during due diligence.

@Tom Hall you need to narrow down your location and buy box. Single fam vs multi? Fix n flip vs buy n hold. Narrow your location to a county at a minimum, preferably a city/town. What exactly is it you are looking for in an investment property? How are you funding the deal and understand the pros and cons to this? Happy to assist guiding you on this.

@Nicholas Jose you will need to tread very lightly on this. Definitely get in touch with an attorney who deals with evictions and evictions only in your local market. Document everything that has happened, get police records if possible. You are likely going to have to navigate fair housing laws and follow a long, drawn out process to get this family removed. It's possible you can do cash for keys but it's not a guarantee that will work

@Jean-Carlos Alix where in NJ is the property? Where do you see the ARV on this once renovations are complete? Pending location, your future rent may not cover the mortgage, especially if you refi. Having said that, there are options to creatively have this property setup as a rental pending location.

@Mike Mullen Happy to help answer any questions. Investor agent and landlord with multiple properties in NJ.

@Nadiyah M. Give me sec 8 all day. I don't particularly look at credit unless it's related to many missed payments that would make me think they aren't paying rent either. Evictions are much higher on my list than credit.