All Forum Posts by: L. Brown

Hello, deeper pocket community! I would like to make my first offer on a duplex. I was told to find out what the seller’s motivation to sell is and structure the deal around that issue. The selling realtor isn’t giving too much information, but from what I could gather, he wants to sell so he can invest in a bigger property. Any thoughts on how to structure the deal to make him want to sell to me? I know there are/will be competing bids.

if you have any sources on where I can get a better rate, PLEASE let me know. I went to 2 other lenders and their rates were higher.

For the rents, I used conservative numbers, but I should be able to get more. 

The mortgage payment includes PMI.

@Aaron K. and @Joedocei Hill thanks so much for your responses. Allow me to clarify...

1)The property is in New Jersey, in a commuting town near New York City. So yes, the taxes are extremely high, but that number is unfortunately correct.

2)Each of the units have a different layout. On the right side of the property, there are two units. The upper unit is a 3/2 and the lower unit is a 2/2. The left side however is a 2/2 over 2 floors. So I figured I would charge $1700-$1800 for the left side (2/2) and right side upper (3/2), and $1500 for the right side lower (2/2).

I am thinking about owner occupying it. I would live there for a year, then move. In this scenario, I would become cashflow positive in year 3.

View report

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

This would be my first property- I would appreciate any insight or suggestions!

disregard

Hello, 

I live in Bergen County, New Jersey and I would like to purchase my first owner occupied property. I would like to work with a realtor that has extensive experience with the nuances of investment real estate and is very knowledgeable about the area in Bergen County (Hackensack, Tenafly, Fort Lee, Teaneck, Lodi, Leonia, etc.). Any suggestions would be welcome.