All Forum Posts by: Jonathan Valdes

@Kevin Hill it is zoned R6 -6000 sqft residential single and two family dwelling. It’s possible.

Hey BP,

I have the chance to lock down a single family house here in Bergen County NJ.

-asking 400k

-4bdrm

-2bath

-LG yard

-$8811 taxes

- great school!!! #2 in N.J.

- 1280sqft per level

- partial finished basement

- potential ARV $450k to $500k. Definitely more then $450k!

I offered 350k with a 60 day close.

Counter - 375 with a 45 day close.

I want to stay under 400k all in.

-currently it is a single family, I have to convert to a multi. Not a problem!

- currently 2 bedrooms, bathroom and living space on the second floor.

- if I was good rent ($2200-$2500) I would have to pop the roof up (currently a colonial). Then create a second bedroom that is currently a crawl space. But my 5yr old can walk through with out having to put her head down.

- I would create a kitchen from scratch, luckily the current area is above the current kitchen.

Questions:

1) How much much do you think will take to get the house to a 2 bedroom on each floor?

2) I currently work a w-2, should I go half private $ for the house. Then hard money on the construction? Should I try and JV it?

Please share your thoughts!

I am pressured to make a deal before the summer, but I will not make the wrong one!

Thank you in advance!

Good Day BP!!!

I am currently looking to build a team.

I am looking for a recommended home inspector.

Please share someone you have worked with and were happy with.

Thank You all

@John Fried is this property still available? Are the rents still active/current?

@Shawn Mcenteer I agree with what you just said. I have come across several deals that require love and I work a full time job. But I am willing to put in the time/grunt work needed for a deal to work. I've got a bit saved and I will be looking for a property to move into before the summer starts. please let me know if you see anything out there.

@Matthew Smocovich Nothern NJ is the way to go. Esp for people who like to walk around theor neighborhood. as you already have seen, the prices are nuts!!. I have seen a few deals on the MLS, but they require TLC. It is about creativity. I have also looked into Bloomfield in Essex County and some towns near Rt80 in Morris County. I saw a 3 family in Bloomfield for under $430k. I was just scared because I was trying to do a FHA and I love Northen Bergen County.

@Odie Ayaga I am hoping to lock down 2 properties with only a few month in between. I cant physically move until June, my lease will be up then. I couldn’t probably ask my landlord to let me go early, but I don’t want to get stuck paying double rent/mortgage. I have see. A few multi properties in Bergen County that fit my numbers. And a few properties in Essex that fit as an investment only property.

I am torn between the affordable home in a so so neighborhood vs great neighborhood and slightly higher mortgage.

Hey BP family....I currently work PM's. I am available for bout 6-7 hours in the morning 6 days a week. I am looking for a person who want to pass off some work/knowledge. I am well rounded in just about everything. It ranges from physical labor to technical work. I am not looking to replace my w2 job, unless its totally worth it!!!!! You need help checking properties out, painting, filing, analyzing, etc...I am on my feet as well as a fast learner. I need more real estate in my life!!!!

Hey BP,

I am looking for a hard money lender. I have been to several meet ups. I have met many people, but no one who can help me. I am looking for a possible live in multi family. I have been keeping an eye one a few possible deals, I just need the proper funding alone with the proper. lets go for coffee/tea,