All Forum Posts by: Katherine Ayvar

@Domenick T. I used the resources, thanks! I found out that this city is ranked as the top 10 riskiest cities in nj. The deal found there was very tempting but the area was a problem. 

@david M. Thank you, I decided to not use cash for this first deal as you all recommended. I will keep you all posted of how my investment goes. 

I will also consider investing in other states as I work there. 

i appreciate all of your comments and advices! Thank you!!

@Nicholas L. 

thank you for taking the time to answer. I mean i would only need like 20k to be financed for repairs which I could get from borrowing. I would cover the property and closing costs. Then, I think about selling the property because it's not in the best neighborhood and I wanna avoid the headaches down the road of landlording this property. The money I could use would be money from savings.

my other option is to start with a regular mortgage and use the house hacking strategy. I would implement the house to increase its value. Then i would refinance it. i feel like with this strategy at first, my debt to income ratio will be high and would not allow me to keep purchasing homes.

Please let me know if the Millville area in nj is a good area to rent or how can I find that out. Thank you!

Hello,

I am a new real estate investor. I got pre-approved for a mortgage.

I am looking to start right now with a fixer upper multi family property or single home in the middlesex or essex county. In the following months I plan to purchase cash and use the BRRR method.

Or should I start with a hard money for a distressed property (paid in cash)?

Please let me know any suggestions.

Thanks,

Katherine Ayvar RN, BSN