All Forum Posts by: Leche Hopkins

Hi Dan,

Thanks yes let me clarify this would be my first deal. My strategy is buy and hold. I’d like to fix it up and rent it out. Both would provide a cash flow of roughly $400 in rent monthly once done. For example, the one property is around $30,000. I have enough cash on hand to purchase but I have no idea what it would cost to rehab and I’d prefer not to spend all my cash up front if I don’t have too. 

Hello Everyone,

I finally went to see two sub 30k properties with my realtor yesterday. Both homes had water damage on roofs and the upstairs ceilings were completely caved in. One even had tons of mold. I’m feeling very discouraged that I really just don’t know what I’m doing. I also thought I could get a loan but because they’re so low I’d have to pay cash( which I don’t have enough for property and rehab). I’m in need of some advice on what to do next. Should I move on to something else? Should I try and find a loan? Should I be looking for a contractor to see the property? What is the next logical step in the process? Any help/ recommendation would be great! Both properties are in the south jersey area.

@David Vitarelli @Mike Bonadies @Joe P. @Justin Eaton @Gaspare U.Thank you all for the excellent advice! I'm not going to lie this is all very overwhelming and a tad bit scary, but I appreciate your honesty. It's better I learn how to properly analyze a property now than to be screwed later after purchase. Thanks guys truly!!!

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello Everyone,

I need help analyzing this deal. I plan on doing a buy and hold. It's a quad that already has tenets in it. From the looks of the report it looks like a great deal. However, my concern is that this area doesn't have many property management companies and I'm not the hands-on type of investor especially since this property is about an hour and a half from where I live. 

I'm also fearful that maybe I missed a key component as far as a bill that should be paid monthly that could affect my numbers. Any help would be much appreciated. The property is in Cumberland County, NJ.

Leche' Hopkins

@Rosaria Pipitone By the way CONGRATS! That's awesome! What method are you using (BRRRR, Buy and Hold, etc) if you don't mind sharing? I'd love to know how the process went for you.

Thanks everyone for the warm welcome! For those asking I'm in Burlington County. @Rosaria Pipitone and @Barry Leibowitz I'm trying to stay close to home for my first deal as much as possible. I'm looking at a couple of duplexes in Beverly, NJ. However, I'm not sure that's the best location to buy in. I'm still trying to understand how to conduct a proper market analysis.  

Hello Everyone,

I'm super excited to be apart of this community. I'm new to real estate investing and am looking to gain as much knowledge as possible. I plan to use the cash flow from rentals as well as other business opportunities to gain financial freedom and quit my full-time job. I look forward to getting my very first deal and learning different techniques from you all. I also hope to make some new friends in the process!

-Leche' Hopkins