All Forum Posts by: Logan Zanki

welcome to BP. I'm local in nj also, feel free to reach out

welcome to the club.

I had some one hand me a crumpled up piece of paper that was from their boss, used for proof of income. As I opened the hand written letter their was a ketchup stain down the center of the page. I said "what is this?" They replied "oh don't mind that, it's ketchup from lunch".

Needles to say they didn't get the appartment.

@Kunal Doshi what office are you in agent in? I live in north plainfield but I was a mortgage broker in east brunswick for a long time and know a lot of the offices.

sant,

Congrats!!!!! A lot of people say to go for the 2% rule, but here in New Jersey it's more like 1% unless you find someone distressed and you put a good amount of work I to the property. I think it looks like a good purchase as long as no differed maintenance pops up, such as a huge plumbing issue or anything else like that.

Have you thought about how else can you get additional revenue, like laundry machines, wireless internet with a month access code, DVD rental, or vending machines in the common area?

that sounds awesome, have you listened to BP podcast 52? I definitely suggest listening to that one, if not all of them.

welcome aboard, make sure you listen to the podcast.

Welcome aboard

Smart move, not only will the rent help you pay your monthly mortgage and help build equity, but it will also make you more attractive to lenders in the future. You'll look more attractive to lenders going forward, when you show a track history of being a landlord.

My suggestion is it to purchase a Multi Family using the FHA program which is only 3.5% down.

PS

This is my 50th post!!!!!!