All Forum Posts by: Kevin Branin

What is his job? did his employer give good reference, does he have good previous landlord reference, if so go for it, use the money to invest in something else, guaranteed rent for 1 year, bad/low credit could be from defaulting on mortgage bc of divorce, or defaulting on a car loan to pay his rent.

i hope i didntinsult anyone, anyone can buy those properties, and do what i said, but a old time investor who was a contractor gave me that advice. Basically anything you put your hands on puts money in your pocket

there are two ways to invest, one is to get loans for already decent properties fix up and refi. two, is for contractors - find horrible, beat up, run down, water damage, fire damaged homes, fix them up with your own hands and sell,refi,etc if you want. I bought a house for $15,000 in a great town, with great schools, had smoke damage, which cost me 500 to fix 200 of which was the paint sprayer. im putting in my own labor (weekends) when all done i will be in for under 30k (which is your savings amount) my neighbor just sold their house (100sft bigger) for 180k. Im not trying brag im trying to point out tha as a tradesman-carpenter you can buy thr cheaper worse condition properties and turn a larger profit.

as a contractor and investor i can tell u that there is no per square foot price on any rehab. i rehabbed aa 1200 sf home for 5k andput 15k into 900 sf home. unforeseen issues are what cost the most. anyone can put in a new door for 500 dollars, but if you find theres no header or framing is bad, you will now have extras. i usually find that every simple repair tends to have extras that you cant predict.

thebiggest thing i look for is location to major highways, 295, 195,130, njtp, etc. a convienent commute is a good selling point. taxes suck all over jersey, make sure your rentis high enough to cover taxes and other expenditures.

anything in ocean county. long beach island has great rents and low taxes

you have to be careful of camden county for first rental most of the towns have high taxes and a seperate county tax if you want a collingswood area its gonna come at a premium. lots of good 'class b' areas nearby. haddon heights, barrington, haddon township, but again all in camden county. how much are you looking to spend, how much work you going to put in, etc? theres lots of good deals around, especially if the house is real beat up

exterior first(roofing, windows, entry and exit doors,siding, foundation), then fix electric and plumbing hvac. then hang int. doors drywall and spackle, then prime all walls, install floors, tile bath and kitchen, then cabinets, then countertop, then finish paint all walls, then finish electric and set toilets, faucets, hvac registers, etc, then hang trim and paint trim, then get paid for your hard work

Welcome, good luck in our area, once you get one you're hooked. if you want 20 now, you'll want 45 in a couple years!