All Forum Posts by: Judah Farkas

I'm going to be renting out a home that has a pool. The tenant will carry liability insurance but wanted to know if a pool needs a separate liability clause. I currently don't have a safety cover, just tarp with water bags holding it down. There is also a basic gate around it. 

How am I to know as to what extent I need to go so I won't be liable is god forbid something happens? 

Does anyone know where I could get the banks upset price before a sheriff's auction?

Thanks!

Hi there BP community !

I'm getting mixed reviews as it pertains to Sheriff Sales. I live in NJ and have be going to the Ocean County Sheriff sale over the past few weeks and have spoken to different people on the topic and still don't have a clear path with this RE model. 

Some of my questions are the following: 

1. "Bank upset price":  Does it make any sense for the bank to take a bid that is considerably less than that amount? Seems like there are cases that they do and was wondering why they would do that. 

2. Max bid amount for Bank: Is this information accessible before the auction? 

3. Assuming I can't get to see the inside of the house, what's the least amount of money I can assume would need to be put into the house? 

Also, does anyone have a general strategy to bid on properties that are sold without seeing them? 

4. Is there any legal way that I would be able to see the property? 

Thanks for your help!

I recently spoke with an acquaintance who sells hundreds of properties for banks and is heavily involved with the entire gamut of the REO business. I was looking to get into a niche and he mentioned something about doing BPO's; relating to filing for banks home assessments.

Does anyone know if this is really worth my time, do I need an appraisal license to do this etc? 

Appreciate the feedback!

Kieth,

I'm in Lakewood, not to far from there. Looking to network as well. 

Hi there!

Does anybody know the type of area, Salem NJ is. 

There is a duplex available for pennies. However, seems like the RE market there is very weak and the home needs repairs. 

Even if I could get it for 10k, I'm not sure how far a flip would get me. 

I'm not so confident to hold and rent this one. 

In my circumstance, I am not living there, rather renting it out. It's been around 6 months now since I bought it and wanted to buy another home with an FHA loan.

I didn't want to move there for personal reasons, such as space and neighborhood etc.

Thanks!

Hi there BP! 

I'm a new investor who is starting out part time and currently own a business which occupies me a few hours a day. 

I'm looking to partner with a experienced investor as an apprenticeship/mentor or employer setup. 

I have years of managing experience with my business and have the time energy and enthusiasm to take on projects. 

Please PM me if your interested or if you have a lead. 

Thanks alot  

Can anyone lead me to a RE meetup/networking in my area? 

I live in Lakewood NJ  

Thank you