All Forum Posts by: Jorge Pimienta

@Adam M. Good afternoon even though I am a very small landlord of only 4 homes/7 doors, I do deal with lots of family issues.

Dave Ramsey always says, "you should rent for the first year of marriage to know how far from your in-laws you want to live". It sounds to me that Kevin came into a lot of money very quick and was not prepared to handle it properly. New home, car, bikes, etc....on top of that moving in with a girlfriend and what it seems to be a new relationship this is going 1000 miles an hour.

If I was in your shoes, I would be completely honest and level with him as a man. Share how was it for you or a friend the experience when moving into a new place with a girlfriend/wife. The ups and downs, maybe that will get him to open up a little and maybe communication starts to flow again.

If that does not work you can always go to plan B, put a notice on the door and go hardcore through the court systems. 

@Adam Levine Hey do these run on the regular or is it just every now and then ??

Thank you

Currently looking to put a HELOC on a free and clear rental property. Can anyone here recommend me some good banks or institutions?? First time ever doing a HELOC and using it to take down a single family deal

Thank you

@RJ Staats count me in, I'm in Colonia NJ

@Bill Brandt I am going to ask for proof of transfer at death deed...you are correct.

Forgot all about that, I know he has a sister in PA.

@Kevin Manafi thank you definitely going to look at those loans and maybe I might just HOLD the house.

@Eliott Elias yep that's definitely one option

@Stephanie P. Yes my neighbor said the 450k was negotiable. For this deal to work for me I cannot take it for more than 350k. Like you said after all expenses and the market going downward or slowing down, I am looking to sell ot for probably 475-490k.

Great points thank you

Hello everyone been a member for a while but I am finally thinking of pulling the trigger on my first flip/ and hopefully seller financing. I have a home that a mom passed and her son cannot afford to stay in NJ and wants to move to PA. I believe he found a place and has to move by the end of December 2022. It is a single family split level home, it is an older property. I will be able to see the inside in two days. I believe it is going to be very out dated but maintained enough for the house to be livable. 

Question is how to tackle the financing end of it. I believe I can get him to lower his price of 450K sense he did say it was negotiable. Comps are running at around 520K fully updated.

Should I ask for seller financing or what other type.......I was hoping to buy it, fix it and sale it or keep depending on the prices when i go to sale. 

Any suggestions or ideas will be truly appreciated. 

Can anyone give me some advise on purchasing a laundromat or flipping one ??

It is an existing location fully equipped, sold as is the add said. RED FLAG right away, but willing to look into it. Besides finding out why they are looking to let go of a cash business, what are some suggestions for questions that I can ask ?? 

Also I am in the northern New Jersey area, if you are interested of being an equal partner with experience, I am open to the option.

Thank you BP fam