All Forum Posts by: Jonathan Rivera

If you had a 9-5 and you had to come up with a plan to eventually never have to work for someone again. What plan would you have in mind to accomplish this goal. 

Just say your job was paying you a salary of $5,000 and you had to make that amount within 12-18 months passively.

my goal is to eventually leave my 9-5 so I can spend more time with my 3 year old, especially be there for all his events and activities.

Love this post!!

As someone new wanted to invest out of state, this opened up my thinking for sure. As for me I’m located in NJ and this state is very expensive especially when it comes to real estate. Average home is like over 400K minimum in decent areas. Next state over to me would be PA, like Philadelphia and surrounding areas where I can get to under two hours or so. It’s way more affordable compared to NJ. You recommend out of state investing for me being that I’m in NJ?

 Appreciate the response. What would be a better alternative based on your experience than? I’m open to hearing ideas 

Hey guys, I needed some advice on new construction here in NJ.

Me & my wife want to purchase a second home as our primary home but prices on houses are super over priced and just not worth it especially with inventory being so low & the market just all twisted.

My thought was to maybe pick the town I want to live in and potentially see if I can get vacant land to build on obviously.

I wonder if maybe it will cheaper to do this strategy instead of getting a loan for 600-700K home that still needs work and I’m not happy about it..

thoughts?

lately, I’ve been thinking about many different strategies regarding real estate.

I originally did wholesaling for a few months but ended up stopping bc it just took up too much of my time especially with my full time job.

second, I thought of having rentals but I was hesitant bc I live in NJ & the rental laws here aren’t the greatest and it’s hardly any deals that can justify for the rent to cover the mortage in this expensive market.

Right now ive been thinking about possibly flipping properties in my own back yard NJ or possibly out of state where home prices are much lower in certain markets.

Anyone have advice if I should possibly flip properties where I live in NJ (blue state) or possibly go into another market and flip virtually..?

my goal is always to have passive income from rental properties but right now I’m thinking more of being able to pocket cash and later make plans on rentals.

 Why is what? Regarding if jersey is bad?

If that’s the question, everyone knows blue states are great for flipping and not renting.

Tenant laws are terrible here and don’t favor the landlord.

 Most companies only allow you to take out 50% only.

Unless you’re switching jobs or it’s a hardship than you can take out all your money but I will pay a huge tax I believe a total of like 30%..

But if you use the 401K into a primary home, it gets taxed way different which is a good thing if your mom wanted a property and investment.

You can also borrow a loan agains the 401K and would just have to get the money taken out her checks until the loan is repaid back. Typically it’s like 10% on the money. So if she took out like $25,000. Weekly would be like $98 a week taken out. Which isn’t bad for a asset investment and she doesn’t have to pay taxes on that part of the strategy 

Hey guys, I’m located in NJ & I wanted some feedback regarding to flipping properties in this state as an investor.

I come to the conclusion that NJ is terrible to be a landlord in, especially with the process to evict someone.

I spoke to a few people who mentioned NJ is great for flipping but I wanted more feedback from others who are familiar with the process here or flipping in general in a state compared to NJ.

thanks