All Forum Posts by: Kevin Baraniecki

@Joe P. Definitely agree. I have been working on my personal financing for awhile now and starting to look in to getting a fha loan for a property. I just need to build a reserve up and go from there. Everything else I should be fine with when it comes to a deal. I am personally using this time of quarantine to save money and will be waiting until restrictions start to lift before I get in to owning a rental. I appreciate the reply and information provided. Stay safe out there.

How much did you start with to get your first property?

I am a Realtor in New Jersey and want to get in to rental property. I was wondering how much should I save to buy my first property. I know it is all situational but want to get a general idea. I was thinking of house hacking a duplex or multplex. I just figure what would be a good amount to have to take to closing and have on reserve.

@Christopher Ade Can I PM you? On that note, You can only get an FHA if you will be living there fully for at least one whole year. I can let you talk to one of my loan advisers I use and see if you can work something out.

@Jay Batista I would bail the second you seen that the basement has a mysterious leak and a build up of mold. That usually means that there is a reservoir of water under the land or that there a crack in the foundation. That will be a heavy price to pay to fix and will only keep coming back until fixed properly. I am no expert in the field whatsoever but that will be my sign to bail. Too much work and pain to fix. Giving I didnt see the property and cant tell what the underlying issue is. Mold in the basement is a big No-No. Mold is caused by moisture and lack of ventilation so yeah thats the deal killer for me personally. Someone might say something different.

@Christopher Ade I wouldnt know about Philadelphia and the FHA. Are you planning on living in the property or renting it out fully? I work in the South Jersey area.

@Greg Hoffman I am a Realtor in Burlington County and honestly would go through each listing with my client to see if maybe we can find something that meets their needs. I looking towards becoming an investor in RE soon, so I try to always look out for my Investor friends/clients. I would rather not talk bad about any agent and just say that it might not be the right agent for your personal needs. Unless you make sure they know exactly what you want. Which I read the above and seems he is dripping you the content on the MLS. Hopefully everything works out for you

@Anthony Jentsch hey just started being active on BP. Been lurking 😂😂. If you want we can grab coffee and talk about future goals in RE. I definitely would love to learn something from you. I want to get in to investing and it can be beneficial for both of us.

I really wish I could attend, definitely the next one. I was really looking forward toward coming today😕. My schedule got messed last minute. Hope to see you guys at the next one

@Charlie Hampton I will be sure to check it out

Anyone in the area of Gloucester County South Jersey that’s willing to meet up for a cup of coffee and talk?

I am very new to real estate. I want to jump into rental properties and become a landlord. Currently looking for someone to ask for a device and just sit down and talk.