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All Forum Posts by: Marcin Ferenc

Marcin Ferenc has started 7 posts and replied 87 times.

Post: Another Rental Property! (This time a townhouse)

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23

Wow those are great numbers. Congrats @Dawn Anastasi 

Post: New to investing

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23

Hi @Tamara George  and welcome to BP!

Post: Laptop Recommendations

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23
John Hixon I have a MacBook Pro which is going on its fifth year now and running just as well as it did the day I bought it. I plan to keep it for another five years maybe replace the hdd to an ssd to add even more speed. I think its a great machine however it has flaws. MS Office runs painfully slow. I have the newest version and sometimes when you put in a formula it takes several seconds just to upload. A PC never has this issue. Also, some programs will not run on a Mac and you may need to run windows in parallel.

Post: Oil tank contaminated soil/clean up costs

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23
Patrick Reagan I would not touch that. There is a fantastic flip opportunity by me that has been on the market due to contaminated soil. Nobody is touching it for the past 3 years already and there are a ton of experienced cash buyers here. I don't even recommend buying homes with underground oil tanks. To me it seems like too much of a gamble and the insurance around those ticking time bombs is very equivocal in my opinion.

Post: How to Purchase 2nd or 3rd property?

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23

@Brittany Hart  If you can put down enough to qualify for a conventional loan (20 - 25%) than I don't see why you would have a problem. Its after the fourth where it may get a little more tricky.

Post: I'm 17, how do I get financing

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23

Keep on saving up as much as you can then once you turn 18 try to go for a conventional loan.

Post: How old were you when you bought your first investment property?

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23

24 when I purchased my first flip property using conventional financing. 25 When I purchased my 2 triplexes using conventional loans from funds I saved up and the flip profits. Trying to keep on moving forward.

Post: Bergen County NJ contractors

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23
I'm also interested in this as I'm from the area. You can never have too many good contractors.

Post: Starting out with only 15k

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23
Congratulations and good luck with your first flip!

Post: New to site

Marcin FerencPosted
  • Flipper/Rehabber
  • North, NJ
  • Posts 91
  • Votes 23
Welcome Patrick Donohue . Spend some time on the site and gather all the useful information as there is tons of it. Good luck to you.