All Forum Posts by: Nick M.

Hi everyone, we’re looking into rehabbing older properties in the towns of Glen rock and/or Ridgewood, New Jersey. Does anyone have experience with this sort of work? We’re actually not even looking to flip per se, just trying to work out the costs of buying a distressed property in town versus purchasing a new construction. If anyone has any experience, we’d really appreciate it. Thanks!

Hi everyone, I’m wondering if anyone has experience with the Bergen County NJ sheriffs sales. I could use a little help understanding the details of the listing and how to proceed. For example, I see an approx upset amount, an address, and both owner and legal info, but the question is - where do you begin making an offer? Do you wait for the sheriffs sale date or can you contact the owner/lawyer? Clearly I have no idea, so anyone who does would be much appreciated :)

Hi everyone wondering if anyone can help with a question- looking through foreclosure properties in NJ but wondering about financing. Do banks typically provide financing on foreclosed properties? Or would you need to find private financing and then aim for a refi several months later with a traditional lender?

Jose Godreau thanks for article, that is really helpful! I had listened to BP podcast 181 with Lauren Hardy and on the cast Lauren mentioned something really interesting about searching corporate owned properties. The data driven approach was very interesting but I couldn't understand how she was able to get that exactly.

Hi, I've been wondering about buy and holds a lot. Has anyone gone with this strategy alone and been able to quit their job/ use this as a full time job? Would love to hear about your experiences!

Looking for anyone who can share their strategies for identifying flip markets. I'm particularly looking around the NJ area. Does anyone use any website data, listing services, word of mouth? Just looking for the right approach. Thanks!

Hi, question here about buying investment property through hard money loans? How exactly does this work? Do you simply just go to a lender and drop 25% down? Also, how possible would it be to do - deal like this with the higher interest rates (10%)?

Hi everyone, wondering if anyone could share some insight on what neighborhoods in New Jersey are good for buying and holding or flipping? Any insight is appreciated. Thanks!

Joe Koppel Josh Calcanis sorry last post got a bit messed up - The tried and true software option really is Quickbooks. There are several other software options around but in my experiences, the capabilities quickbooks provides (e.g. Invoicing, receivables, financial statement prep, direct journal entry posts, reporting, online platform, etc) relative to other software is the real value. One other software option you may be interested in is Xero. It's a completely online based accounting software application and has been growing quite well in popularity the last few years. And Christopher Cousin is totally right. As a CPA myself, you want to be sure you're tapping into the knowledge - meaning making sure you're understanding how entities should be structured, what transactions are/are not allowable. There's value in bookkeeping as well, mainly in the time it saves you but in other ways too. Being computer savvy is helpful but there's no way to get around not understanding the accounting treatment. At the end of the day, a good bookkeeper should be able to reduce the time of the tax preparer and put them in a spot where they have a good understanding of your businesses transactions. Not only does that give them a clearer picture, but it reduces the time for preparation (saving cost) and allows them to identify potential tax benefit (or concerns) not otherwise known.

Joe Koppel Josh Calcanis Honestlhere are many solutions for bookkeeping software out there, but the most tried and true is really Quickbooks given the value