All Forum Posts by: Lamont Chen

@Santiago Romero

Welcome! Feel free to reach out to me via DM and I can give you some insights on North NJ.

Best of luck!

@Lourdes Hernandez

I am happy to help you with any questions you may have and share any lender, etc. contacts you may need.

Feel free to DM me and we can connect.

@Ryan Camlin Nice! Keep it up. Very competitive market in North, NJ nowadays so I am sure you are quite pleased with your decision now.

@John Cantey

I prefer using Cozy for my rentals. Its pretty convenient and you can use the majority of the functionality for free. My tenants are able to easily set up recurring payments so I have not had an issue with late rent.

@Patrick Q.

I have pretty good loan contacts who are quite creative in the area since we are pretty close.

Feel free to DM me and I can help connect you.

@Khang Pham Nice! The learning experience and contacts you gain will be so valuable for future deals. Congrats!

@Ashley K.

If you can find it... you can try to find a seller who is willing to do seller financing but would be best to involve an attorney to make sure the terms and verbiage is correct. In this instance the seller is the lender and you would be paying them monthly while house hacking.

@Michael Baffuto

Parts of north jersey are pretty competitive price wise which can make cash-flow difficult. You can try to use generalizations to calculate whether or not a property may be worth it pretty quickly so that you do not need to dig super deep into each property which comes on the market ex: vacancy (8%), repairs (5-10% depending on age), etc.

Feel free to DM me and I would be happy to see how I can help you speed up your analysis process.

@Chase Farley

I believe so since you are not living there immediately (also hence the 25% down payment). If it will become your primary residence off the bat you probably only need 3.5-20% down and the rate could be lower.

@Chase Farley

May be due to purchasing the triplex as a investment property instead of a primary residence.