All Forum Posts by: Joe Manfredi

Hi all,

Not sure if this is a reality for me at this point but that's why I'm here.  My fiance and I are getting married next May (2018) and currently own a $240k condo since 2012 on a golf course in central New Jersey. We believe it is worth much more at this stage because a neighbor of ours just sold his for $280k after buying it for only $247k and he had NO upgrades.  We have full crown molding, fully upgraded kitchen and others!  Since she bought the condo would I still qualify for down payment assistance in Arizona?  We have been to AZ for family in 2014 and 2016 and absolutely love the weather, plus the property taxes are so much lower.  NJ is at least $5,000 a year in taxes while AZ is under $1,000.  I would like to own maybe a small unit just a start and rent it out to people so they can pay it off for me.  That's kind of all I know at this stage.  I'm a novice so please feel free to school me and ask me questions I am mature and expect to get criticized or even shut-down for my ideas.  I know it won't be easy and all that but I know it's possible with the right people helping and counselling me.  

What are the best questions to ask a realtor during a showing?

Ro,

Thank you very much for your reply.  I am 29 years old, not 22.  Maybe I should have been more descriptive (my apologies).  Do you know what the restrictions are or where I might find them?  The home that hasn't been built yet is only $50k.  How would it depreciate?  Should this concern me if I have no plans to flip it, only to rent out for income?

http://bit.ly/1RAPnLQ

Hi Elaine! I found this property in Jackson.  Is this like what you are referring to?

My goal isn't to flip any homes, I want to play it slow and steady, pay off my first investment home in full and then move on to another.

With that said, I feel that it's time to move my mother out of the drabby apartment she's been renting on for the past 22 years.  At face value, this appears to be a win-win.  I shouldn't ever have to worry about vacancy and would like to lower her rent once the house is paid in full.  I'd be able to collect about $850/month in rent this way.

Alternatively, I can collect from a stranger the good old fashioned way.  I'm in New Jersey where the rents are expensive and vacancy is lower (in the NE according to census.gov).

I'm newer to this board.  Pros, can you look at these homes and see if they make sense?  If not what additional info are they missing?  I'm not quite sure what to ask and where to start.  

http://www.zillow.com/homedetails/19-Equestrian-Ct...

*NEW CONSTUCTION* http://bit.ly/1RAPnLQ

*HOMEPATH* http://www.zillow.com/homedetails/518-Prospect-Ave...

*55+* http://www.zillow.com/homedetails/73-Alissa-Ter-Ja...

I have 10-15k to put down on a home.  Looking to do like a 50k-75k place. 

Hello,

I am in NJ and found some 10-15 yr old properties by where i live.

http://www.zillow.com/homes/for_sale/house,condo,a...

http://www.zillow.com/homes/for_sale/house,condo,a...

I have no investing experience but I am constantly doing the smart research provided by the great Mr. Turner here.

Haven't read anything on 55 and older retirement communities.  Catch? Thoughts?

thanks in advance!

That is very helpful thank you

I see, I know that the typical response is it "depends", however do you have educated estimates?  Vacancy duration and associated cost?  let me know if you need more info.

Watching this thread, I have the same questions.