All Forum Posts by: Kenny Charles

@Vaughn Smith

Sounds good Vaughn! I am actually looking for an inspector and a appraiser for a property I am purchasing here in NJ. If you know of anyone that would be great. Thank you.

@Steve Schulman

Thanks Steve. I am actually looking for an inspector and a appraiser for a property I am purchasing here in NJ. If you know of anyone that would be great. Thank you.

Hey BiggerPockets world!

I have a possible sub 2 deal looking to get some insight. I have a seller who owns a 3 family home, and willing to subject 2 her remaining mortgage balance of 295k. ARV is 485k, and as is value is mid 300k. She currently has a monthly mortgage of $2800 per month (taxes and insurance included) with a interest rate at 5.5. 2 units are rented out paying $1200, and the last unit pays $1050. Fair market rent is anywhere from $1500-$1800. Seller is willing to keep the mortgage in her name as long as we would like, but she is looking for us to give her a downpayment of 80k to pay off bills. We are going to try to renegotiate the downpayment. If we can't my partner and I are considering on giving her the downpayment, and then eventually refinancing the current mortgage to pull our money out, and lower the interest rate. Good or bad move?

Good Morning BiggerPockets world!

Wondering if you guys could refer to me any general contractors in the area? (Northern NJ). Thank you!

@Vanessa Regalado hey Vanessa can you please share the attorney info with me too please? currently seeking one as well! Thank you

Hey guys I have two home owners who are interested in doing seller financing/subject 2 deals with me here in NJ. looking for a real estate attorney (preferably in northern NJ) that can help underwrite these deals. Any guidance would be greatly appreciated!

Quick question....I am a wholesaler in NJ, I initially agreed on a purchase and sale agreement with the seller on a specific price.

However when doing title, I had to change purchase price to help her with a judgment amount that popped up.

Our closing is tomorrow all paper work has been sent, all we needed was her to sign the addendum stating the new purchase price and everything else stays the same.

However her attorney advised her not to sign the addendum (note:were using title company to close)

She wants us to draft another purchase and sale agreement instead with the same terms and closing date which is tomorrow.

Is this a big deal or there issues that I should be worried about when doing this????

@Kelly DeWinter thank you for the advice! I appreciate it a lot.

@Patricia Steiner thank you so much for the advice! 

Hey Biggerpockets world,

We are trying to buy a house that is owned by 3 individuals. One is deceased and has not had an estate done to transfer ownership of his 1/3 stake in the house. Can these other two people still sell us this house? How will this play out once title insurance gets involved because I believe these people can not sell the house without 100% ownership. I may be wrong not sure. Any feedback will be helpful!