All Forum Posts by: Jonathan Valdes

Hey BP,

Unfortunately I have been shafted on my first deal. I jumped through all the hurdles needed to close the deal. Handled all the renovations myself; even after been victimized of fraud & rented my second unit to a great tenant.

Now this is a 2 family house In Northern NJ. I also have been furloughed from my awesome paying JOB. And I have been forced to be unemployed, but I am looking for work.

Because I lost money have in the middle of November of 2019. It has snowballed into being down 26k in my mortgage payments. The house is worth about 435k. I know if I was able to put in more work into the house it would appraise for 500k.

I’m at a crossroads right now. I want to keep the house. But I don’t want to be Foreclosed on.

Any idea on what I can do here??

Thank you ahead of time BP.

Thank you you both for that great information.

Hey BP

I need help with a foundation issue.

The house in in Hillsborough, North Carolina.

I have 2 joist that are rotted near the main structural beam. That bean is also rotted in some areas.

I need help, if you know a licensed contractor please let me know ASAP.

Thank you!!

Thank you all for tour help and advice!!! As you all know, BP has brought all real estate investors together as one giant network.

That being said...

THANK YOU

THANK YOU

THANK YOU

I had a eye opening conversation with the bank. And while on the phone with them, I realized I can build a wall in the foyer creating a separate entrance for us ( 1st floor tenants ). Because I have 2 doors I can always use the main door to the front door OR the kitchen door to the side door.

So I am in the middle of finishing the wall tonight. It’s been challenging when my kids want to help hold the wood while I use the saw. Don’t recommend using power tools around kids !! They are a blessing and a great help.

@Eric Fichera I agree with @Jonathan Greene. I am house hacking my way into my first home. But I also have a family, wife and 3 kids. Wasn’t easy to find my deal. And I took it just below market value and I’m doing most of the work myself. If I were single I would live in basement if I had to. Think of it. Think of commute to work. Neighborhood walkable? Clean law s or dirty lawns.

@Jake Drappi where in NJ are you looking? What is your criteria?

Thank you ALL!!!

You are all correct in what you say. I appreciate you all taking the time out to reply to my post!!

I will hold off on renting the unit.

THANK YOU AGAIN.

Hey BP!!!

So we are full blown pandemic.

I have a duplex in Bergen County NJ. Typical house hack. I’m scared to rent my second floor unit because I have kids. My wife doesn’t want the unit rented to avoid people.

What do I do?

Rent or not Rent????

Hey BP,

So I have had some issues with my property. This is my first deal/property.

It’s a top/bottom duplex in New. Jersey

I closed in October, had credit fraud done in November. Forcing me to do all the renovations on my own. That delayed the renting process.

First payment was due in December, but the unit wasn’t ready until January. I have now fallen behind on my payments.

I spoke with the bank today to see what I could do. They said once I hit 90 days, legal will get involved. I have 30 days to push back by making a payment of $3100. Unfortunately my job doesn’t pay me that much. I put all my eggs in the upstairs unit.

I am terrified to loose this house as my wife and I just had our 3rd child.

Any ideas as to remedy my situation?

@Cassi Justiz

Love it!!! Thank you so much!!