All Forum Posts by: Jonathan Valdes

Hey BP!!

I have my rental in Saddle Brook, it’s been ready for rent since the new year. I know it’s January, tenant pool is small. But I need to get it filled in order to keep the machine moving along.

Does anyone know about advertising to traveling nurses or doctors. Or anyone in the medical field??

Please let me know how to do this with out having to pay some company to do it for me.

Thanks!

@Kevin Kevin you need a license or permit if you are doing major Renovations....

Extending the foot print, building additional floors, converting the basement unit into an apt, electrical upgrades.

@Frank K. 

if you don't mind, what town is your house in?

How much would each unit rent for? How many bdrm in each unit? full basement? garage or carport or driveway? 

Commuter friendly? Family friendly? 

I just purchased my first multifamily property back in October. duplex in Saddle Brook, right behind the park. the property checked all of my wifes boxes. this way, she is happy, the kids are happy, I am happy. Schools were not a big thing for us as we are home schooling the kids. the only con is I am doing all of the remolding myself, I am happy to experience this as a first time home owner (hire it out!!! time is $$) The second unit is still vacant...38 days in.....

@Corby Goade has a great idea about the HELOC. Esp is you have a lot of equity.

@Zain B.

I just closed on a property last month. I paid for title. if the deal works, pay the title fees and keep moving forward. a few thousand/hundred vs being finically independent …. you choose

@Ola Dantis I agree 100%. I’m still in the grey zone with my landlord. We move Friday!!!

So I am excited for that.

Hey BP.....I was thinking to have my second floor unit as a section 8 housing.

The property of in Saddle Brooke, NJ; 1/1 with 1000sqft

Your thought please

Great News!!!! I managed to close on the property last week. now the work begins...well it began last week and the family will move in by Friday.

Hey BP, I live in Norther NJ. Just closed on my 1st duplex. I have been updating the 1st FL myself with the next to zero free time. I am unable to put time to rehab the second unit. Its a single bedroom with a huge living room. It will cost about 12k in work. If anyone can please recommend a lender...private or hard. I would greatly appreciate it!!! Thank You!!!!

To All: I was able to get the finances through a different bank. It turned out the original lender was doing some shady stuff. Their numbers were off. This filing of my FHA appraisal wasn't incorrect. I am just happy to have found an alternative route to close on this deal.

@Wayne Brooks I’m not to sure just yet as to why they are verbally telling me that I won’t get the loan. I haven’t received a letter. The lender (Americans Mortgage Lender, Whippany branch) went through a split in July. The original guy I was with left the company. And that left my loan in the air. I’ve explained this all to my lawyer, who is AMAZING!!! He has been helping me get the lender on track. The blank spot is the guy I am dealing with @ the office is a terrible communicator (James). I will be going to Chase bank today to see what they can do. As I have had chase for 15+ yrs.