All Forum Posts by: Jonathan Ortiz

I've been to the NJ meet ups in the past and they are great for networking but you should always run your own due diligence as well like you are doing, so great job! With regards to holding time for a rehab property, I would be conservative and expect at least 6 months of holding time in the event you run into any surprises. Otherwise, if you are only projecting 4 months and you go over that time frame, then now your paying additional months of holding time and essentially eating into your net profits. As for private lending, you always need these items: Promissory Note signed and notarized, Joint Venture Agreement, and a Deed of Trust or also known as a Notice of Interest in some states that references the Promissory Note and JV Agreement. The Deed of Trust or Notice of Interest needs to be filed with the county where the property is located and you MUST receive a confirmation that it was filed prior to giving any funds. Your safety net to secure your interest in the property is going to be that Deed of Trust or Notice of Interest which should also be signed and notarized. Lastly, do not send any funds directly to the borrower. Any funds being sent must go through an escrow company (title company or attorney). Hope this helps.

Hi Louis. I attended the 3 day seminar in June 2014 in Newark, NJ. I've had my ups and downs when I was starting out with the program mainly b/c I never had any prior real estate knowledge before, but things turned around for me in 2016. The system does work if you follow through with it, but at a pricey cost. I do not have a college education and so for me, the cost that I spent was my college education. Everyone you ask will have a different opinion on the topic. Yes, I agree you can learn just about everything for free on BP and other free outlets that are available to us. My advice to you is: if spending $40K-$60K is going to put a burden on your financial situation, then don't do it. Take the time to connect with other like minded investors at your local meet up, and network. In NJ, there is a great meet up called the NJ Flippers and Funders Meetup group that meets once a month in West Orange, NJ I believe. Feel free to reach out to me with any questions. 

Hello BP Family:

I am in need of an investor friendly agent specializing in Clay County to work with an experienced team. Contact me today and lets make money together!

Thanks!

Jon

@Johnathan Boyle Awesome! I can always use a great contractor recommendation! I will send you a PM. Thanks!

@Steeve RobertsCheck out my link below for additional info. 

@Mitch Bernstein

I use: 

Frank Glomb
Terra Home Inspections LLC
211 Meadowbrook Drive
North Plainfield, New Jersey 07062

NJ Home Inspector Lic. #24GI00128600
NJ Radon Measurement Technician MET #13265

NJ Contractor Reg. #13VH07429900

HUD 203K Consultant #P1811
IAC2 Mold Certification #IAC2-03-4647

Certified InterNACHI Member
ASHI Member
Garden State ASHI Member

NJ-ALPHI Member

@Jensen Jeune - have you checked out http://www.onedayfunding.com ? I've never used them before, but perhaps they can help you.

@Michael Garrett

Hey Michael! I know getting started is sometimes very challenging as it was for me, especially those who do not have cash flow to work your first couple deals. I am a personal testimony of leveraging a solid credit score of 680+ to get more cash by unsecured lines of credit. So, if you are an investor and need assistance in finding start-up business capital for your projects whether it'll be for your rehabs, EMD deposits, paying for your monthly utilities on your rehabs, or even being an equity partner for someone else's deal, please go to my site to obtain additional information. Thanks!

@Oscar Macal Have you considered a Lease Option if you plan to rent? A lease-option, the property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property. What you can do is have the tenant agree to a non-refundable downpayment whether its $10,000 or whatever you decide which will either go towards the purchase price of the property, or it'll be your profit to keep if the tenant chooses not to purchase the property at the end of their lease option. 

Hello Everyone:

I am in need of a General Contractor for a single family fix and flip in Bergen County, NJ. I would greatly appreciate any referrals for investor friendly General Contractors in the area. Thanks!

Regards,

Jonathan