All Forum Posts by: Jorge Peguero

    There are several potential ways that you may be able to monetize the land that you have inherited in Crossnore, NC:

1. 1. Leasing or renting the land: Depending on the location and access to utilities, you may be able to lease or rent the land to farmers, ranchers, or other agricultural businesses. You could also consider renting the land to event planners or other businesses that need a large outdoor space.
2. 2. Developing the land: If the land is suitable for development, you may be able to work with a developer to build homes, apartments, or other structures on the property. This could be a long-term investment that generates income over time.
3. 3. Selling the land: If you are not interested in holding onto the property long-term, you could consider selling the land to someone who is interested in using it for one of the purposes listed above, or for some other purpose.
4. 4. Renting out the house as is: Depending on the condition of the house, you may be able to rent it out to tenants as is, although it may not be worth as much as a fully renovated property.

It's important to consider the local market and the zoning regulations in the area before making a decision about how to monetize the land. You may also want to consult with a real estate agent, perhaps Brian Bohrer, or a lawyer to get more information and advice.

Hello BP family

If I sign up for the pro Annual membership,

does that mean that im able to attend the online investing bootcamps for free

thanks

Jorge

Quote from @Mike D'Arrigo:

@Jorge Peguero given the high property taxes and the fact the NJ is not a landlord friendly state, I'm not sure there is a best place in NJ. 

 Hey Mike D'Arrigo

So where  outside of New Jersey based on your expertise and background experience would you suggest someone to invest?

Quote from @Matt M.:

My best on-market-

My primary was listed for $219,900 in 2015. House needed a complete remodel as it was 1957 still inside. I wrote them a list of what it needed and offered $150,000.  We ended up settling at $187,500 and they paid $10,000 of my closing costs. I have since redone the house myself and it’s worth a little over $400,000 now. 

Best investment on market. house was on the mls as an auction. Needed work and the listing realtor supposedly couldn’t get the lockbox code. I won the auction for $23,100 and the house wasn’t bad at all. I put $15k in it and I’m getting $1275/month currently. 

 wow impressive i love hearing stuff like this.

Quote from @Kevin Manafi:

@Jorge Peguero $15k to invest in a multi-fam in NJ, even with an FHA loan (as low as 3.5% down), is going to be very difficult/near impossible given the current market. The FHA loan is an owner-occupant loan, meaning you'd have to be living in one of the units, which would more than likely return negative cash flow during the time you occupy it.

Additionally, any multi-fam you'd be looking at in that price point would likely require at least some degree of moderate to heavy rehab, which would again require additional funds.

Hey Kevin Manafi 

Just for future reference, how much do  you feel is the bare minimum someone should have in order to invest in multi-fam in NJ?

Thanks

Quote from @Kevin Manafi:

Hi @Jorge Peguero, the "best" place to invest will depend firstly/mostly on your budget, then on your investment objectives. NJ has properties at all different price points--some could be better for a pure appreciation play, while others could be better for cash flow, and others still somewhere in between--so it really depends on what you can afford and what you are trying to accomplish.

In terms of North Jersey, pretty much everywhere is hot, much like the rest of the U.S. right now. Essex and Passaic counties are on fire, and there are deals that can be found in Passaic county, and even more west than that.

Hey Kevin Manafi

Thank you for taking the time to respond.

Im trying to invest $15k in a MF that i could turn into
a house hack. A mf that would bring cash flow of at least $200/unit.
A place that is moderately save to live in NJ.

what markets in new jersey, given the description above,  
would you recommend for me to look at more closely

Thanks

Hello BP family

Is any one currently have investment properties in New Jersey?

if so, would you be kind enough to share your experience, whether good or bad .

Im trying to see from people who have skin in the game

what places in new jersey are great  for individuals to invest in.

Thank you :)

Quote from @Joshua Janus:

@Jorge Peguero Is a house hack a goal of yours in the future? Study the requirements for an FHA loan like a book and make sure to set yourself up for success. Examples would be building up your credit, getting the most recent tax returns for the last 2 years in the same field, building up capital for the down payment, closing costs and 6 months in reserves so you can use as much of the rental income from the other units as your own income when you getting qualified. These are some barriers I had to make sure to be able to climb over. Let me know what questions you have.

Hey, Joshua Janus

Would you recommend me to partner up with someone in reference to house hacking 
since i lack the knowledge of this or is it one of those things where i throw myself in the deep end and just learn to swim?

Should i just call a local real state agent that is invester friendly and tell him exactly that? or should i know exactly what i want before i call?

Thanks,

Hey BP Family

thank you for taking the time to response.

i think most likely ill do something that Bridget Kelly  and Nick Barlow  mention, which is

either house hacking or being a short term lender on Groundfloor.

Thanks

Hello BP family

Im suffering from analysis paralysis.

I self diagnose myself about 3 months ago.

I live in newark, new jersey.

I want to find away to get into real estate that doesn't end up costing 

me too much and some how will enhance my living situation.

I know my question  is super vague and perhaps way too broad

But what would be the best way to invest 15k in real estate?

Thanks