All Forum Posts by: Account Closed

@Account Closed thanks, i feel like im missing out on doing more. i want to buy muti family buy and hold, and have a large portfolio of rentals and end goal own a massive building with commercial space as well. i am waiting till the stock market hits a bad bump before i invest a little in the market for a long term.

i am 24 just turn i graudated college i have 9k student loan which i will pay off in 3 months, i have a online small business. i have 120k in cash and looking to invest it asap. I have a ira im funding, i have savings and i have read real estate investing and books for 4 years now. i want to know what should i do cause i have no job yet so should i wait to get the job to buy a muti family or should i just go for it and get a co-sign. I am very ambitious and want to attack this head on should i wait or just go for it?

@Jason Noah Choi okay cool lol i was confuse their cause i read on another post it could be done so i was looking it up when i got your message to disregard it. Let me ask does anyone own any property in nj currently?

@Jason Noah Choi yeah i wanted to get a 3 family home but i know about the FHA and i didn't know about the refi process is only use with call buys, good to know that now. After purchasing the property if i use the fha loan with 3.5% rate, the second property i will buy will need to be 20% down right because a second home will be consider investment?

@Darren Sager after read much and doing research many people are saying newark,union, eliz, areas are good for long term which is what i want. However since you explain this new law place in newark, i would rather work in areas that i can see better return. Im looking for a multi family home where i can manage a net positive cash flow of 1k plus, i hope this is the avarge, where else meaning other towns can i look into for a good deal? the property i am looking to get i will live in one unit and rent out everything else. This is my 1st purchase, i have 760+ credit, i have down payment funds and no debt. my budget is 240k to 380k. I was thinking of doing the stragety im hearing alot about which is buy-rehab-rent out- refinance so i can get the down payment back. what's your feed back on this?

@Jordan Gregg im in the same boat trying to stay focus and confident on going ahead and getting a property. I study the terminology/concepts since high school since i just graduated college 6 months ago in finance im more aware of things and just want to make sure im heading the right direction. Im not sure if its not reasonable to pump out 1k net in cash flow in a multi family in Paterson or union or best bet to invest out of state.

@Ray Reed Paterson is very challenging area i grew up here all my life, even the decent areas are fill with crime, my street was involve in a shooting 2 times this year and where i live is a decent area. Plus the property taxes here are higher than other towns. 

@Ned Carey the kind of investment im looking for is a buy and hold, im trying to get good COC im thinking long term as 30 years from now. I was thinking of buying foreclosures and rehabbing them than renting them out. Paterson is not a good area i know their are many many investors here who buy the property and section 8 them. not looking to do that right away maybe down the road, for the most part most people i know in certain areas do pay their rent.

@Account Closed thank you i will do that, im trying to figure out what would be a good benchmark to go against for example, should the property i purchase be 10 to 20% below market value, should i buy short sales or foreclosures than rehab them refinance them than rent them out etc. something of that sort of line.

@Eric P. thanks im looking for buy and hold do you have any investment properties in  nj?

im looking to purchase a investment purchase my 1st one here in nj where should i look at?

im looking for investment properties in nj and maybe out of state, i want to know what i should focus on 1st i have good credit 768 i have savings, i have 1.5 year emergency fund, im good at that part ive been a saving for too long now i just want to focus on investing. Im looking to buy a multi family home. Should i buy a foreclosure than rehab it and refi? or what should i do to start? i plan on living in one unit and rent it out.