All Forum Posts by: Kyle Pelech

@Joe S.  all on the books and documenteted. 3 cards and student loans. Credit history is about 2 years and a few months. 

@Joe S. Happy new years! 

Actually Joe this will only be my second full time job I am 22 years old. I worked for a company for 2 years and made $35,000 each year. Before that it was a lot of landscaping and construction. My credit is around 750. 

@Wes Brand Thanks for the information. 

@Wes Brand Is that with or without my Dad as a co signer? 

Happy New Year!

So I am starting a new job and looking to buy my first property. It is within the government sector and I will be starting at around 42k a year in NJ. Slow increases until I reach around 120k after about 10 years. I know I will not be making much money at first but I am looking at some great properties in my area. For example how much trouble would I have trying to get financing for a 350k - 400k house? It is a property with 3 separate units, I would be living in one. I would like to take advantage of the FHA loan if possible in my situation and have my father co sign for me. Does this price seem out of my reach?

Unit 1 generates $1100.00 month

Unit 2 $1000.00

Unit 3 $1400.00

Thank you!!

This is an example of what I am seeing. There is no fee for me to take part in this lien sale, but just a minimum deposit you must have on hand to show the town you have funds. This Cost of sale is what I am wondering if the home owner has to pay you back, I know I would not get interest on that. Just wondering if when they go to pay their back taxes will this fee also be incorporated in what they owe to me / the town. 

Thanks 

Hey guys I have a simple question on tax liens in New Jersey. I am looking to buy a few cheap liens to get my feet wet and possibly get a good return on a few hundred dollars. Now my question lies is in the cost of sale + the lien cost. When / if the homeowner goes to the township pay their bill / my lien off. Will I get the lien amount + interest + the cost of sale I was charged??

The lien I am looking to buy is around 250$ and the cost of sale is 70$. Will I get interest (hopefully) on the 250$ and I will paid back that 70$ ?

Let me know if this makes sense or if need be worded differently. 

@Samuel Awosolu  @Andrew Hernandez

Hey guys,

Quick question. With that 269.56 cash flow how much are we looking at after taxes? I am from New Jersey and new to rental properties. 

 I am looking for mostly multis. 

Have you ever found successful buy and hold properties on these websites? I have been looking for quite a while now and it is very tough to make the numbers work. I know this is not the main way to find properties just wondering if it has been done.