All Forum Posts by: Account Closed

@Adrian Samborowski   where did you find your property? and im looking for smaller banks for financing but thanks, 

@Johnathan Boyle where are the locations for the homes? yeah i was looking to do smaller banks for a lender its all about creating good terms in the deal along with prices.

yeah got to in this world and im planning on buying a mf for my 2nd investment property in paterson but not my 1st @Ned Micic

yeah i know FHA will have to use my 1st unit as primary residence i know that and cause 4 is better than 3 lol but yeah 3 works too, yeah your right 203k broker but what are the fees for the broker? and where do i connect with a hud consultant?

@logan allec   thank you, and whats redfin? and yeah will do

@kevin hill   yeah i did but im trying to find a deal where i can add in some value get a foreclosure and rehab it.  its hard to find 4 unit homes because of not enough supply, i will check those sites out. I was pre-approve for $400k

Hello everyone,

im 24 i have debt monthly expense is 280 to 350 a month, i have 140k cash and credit score is 776. I want to buy a 4 unit home in nj around north jersey to do fha loan 3.5% and rehab it with a 203k loan and then refinance and rent it out. I dont know where to look for 3 or 4 unit homes, should i contact a realtor or any good website out there? i also just started a new job i have a business should i wait a few months before i begin to get a preapproval letter. can anyone help me?

Okay i just started a new job 42k salary starting out hopefully land a analyst job 50k+ soon but for now i have 775 credit score i have 140k cash but only wanna use max 30k, i owe 0 student debt i own a business as well for 2nd income. my monthly expenses is $350 a month. I want to do the BRRR using the FHA loan/203k my questions are the following

1. where should i go to find under value MF homes to buy? its hard finding them here in north nj should i look for short sales or foreclosure?

2. base off experince how much cash would be good for down payment and closing cost?

3. where do i look for the properties? online the prices are retail and over inflated 

4. what are some good hot areas?

im looking to purchase a MF every year

Anyone know a good realtor specializing in selling forclosures NJ looking for passaic county or essex county, union. im trying to find a list of duplex or trip or 2-4 family homes for sale. I need help with sites and where to find it.

@nathan waters thanks i will do that, i plan on refinancing 6 months once i make the purchase of the home soon.

Hey everyone if interest rates keep going up if too high refinancing wont work? means the BRRR method wont work anymore?

@Arthur Soto sounds good, can you shoot me a text i have some more questions like how much cash do you typical see to put down for all closing cost and down payment etc range from?

@Ro Maga I am not planning to go into it shady, also the rooms i will rent to is to family/close friends. I will know them personally, hence me stating i will do this for the second home i will purchase in paterson because everyone here does it and landlords are making a killing

@Arthur Soto Hello, thank you for your input. I understand the costs i have two degrees finance and economics. I understand the tax situation could be a problem but by renting out rooms than using the BRRR method i could have 3 things done, 1. rent free 2. make a profit per month, 3. tat deduction. I like bergen county, is there good supply of 3 family types of home?

best regards,