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All Forum Posts by: Kirk Johnson

Kirk Johnson has started 13 posts and replied 28 times.

Post: Camden, NJ Investments

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Odie Ayaga Thats my point though, most lenders will do that amount, but most houses in the city are not appraising that high.. Yes I am looking to do a refinance. 

Post: Camden, NJ Investments

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Odie Ayaga Yea that's true. When the minimum property valuation for most of them is 150k-175k that eliminates most of the city though, but I already have the property. Got it for 10k renovated it for 14k and it appraised at 80k. 

Post: Camden, NJ Investments

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

Hey BP fam, I'm a new buy and hold investor in the city. Camden born and bred as well. I'm trying to find a hard money lender willing to lend in the city. Does anyone know of anybody?

Hey everybody, 

So I just purchased and renovated my first rental property in cash. I am currently looking for a lender that will accept a cash out refi on an investment property, but my criteria is a little specific. I don't have any proof of income, I have "good" credit (almost a 680) and the mortgage would be for a small amount. Based on the last sold comps, the house is worth about $60,000-$65,000. I have found a few but for the most part the minimum loan amount is $100k. Obviously, this house will not appraise for anywhere close to that amount.

Does anyone know of any lenders that I can call to get this mortgage done? Thanks! 

Post: Awesome Cash Flow Opportunity

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

Looking for an investment property in the desirable Marlton section of Camden? Look no further! We've got you covered.

This house features a great amount of space for families and roommates to live near local transportation. This property is about a 2 minute walk from shopping centers, transportation and other attractions in the city. Also, this property is conveniently located 5-10 minutes from Cherry Hill Mall! Its in a prime location.


With a little bit of work this property is ready to start Cashflowing. Rent comps in this neighborhood for a 3/1 are $1200-$1400. Section 8 pays $1500/month for similar properties. Give us a call today to check it out!


COMPS:
"519 Randolph Street" sold 10/31/18 $87,000 (0.5 mi)
"473 Randolph Street" sold 5/8/18 $85,250 (0.4 mi)

ARV (if you decide to sell) $86,125
Repairs: $20,000
Asking Price: $26,900
Potential Profit: $39,225

Potential Rental Income: $1500/month

Post: Monster Cash Flow Duplex

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Eduardo Bernal just sent you an email.

Post: Monster Cash Flow Duplex

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Kay Rahi Just sent you an email.

Post: Monster Cash Flow Duplex

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Mayer M. 259,900

Post: Monster Cash Flow Duplex

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

@Ryan Longley Yes the property does need little rehab. I can send you additional details. What is your email?

Post: Monster Cash Flow Duplex

Kirk JohnsonPosted
  • Pennsauken, NJ
  • Posts 32
  • Votes 3

Easy to show and Easy to rent!

2 Unit Duplex building for sale.
Walking distance to Philly rail line.

Rents as high as $2700/M. for ridiculous Cash Flow!

Property is currently vacant. Please message me for additional details.