All Forum Posts by: Mayer M.

Tell me what you guys think about this investment: Purchase price $105k Taxes $2200 annually Condo fee $2400 annually Insurance $500 annually Water/sewer $1200 annually Gross rent $15k annually - above expenses = net rent income $8700 annually

Can you buy cash? I would suggest buying cash and then cashing out. Other option is obtaining a mortgage with 25% down

Run away. I’m an investor is south Jersey and can help you find a much better deal than that

That would be awesome! I have only done condo/townhouses including finishing basements, roofs, kitchens, baths, etc so far but piecemeal everything out to save on cost. I’m just looking for good contacts that can do everything at a rate that I can still make money.

Hey BP! I’m located in Cherry Hill, NJ about 15 mins outside Philadelphia and am looking for an investor friendly contractor to assist me with flips/rentals. Everyone I’ve come across wants to charge me retail as if I was a homeowner doing a remodel. Any recommendations? Thanks!!!

gross annual rent minus all expenses with equal and that income of $9620 with no mortgage

CCMUA is water/sewer. I would be paying all expenses listed.

Yes. Call local small banks and speak with their commercial lending manager

Best bet is working with a small local bank. I’ve done many blankets

Hey, Is this a good investment? Buying a 25 year old condo in a B neighborhood and including rehab costs $63k (arv is $80k+), condo fees are $2280 annually ($190.00 per month), taxes are $2k, CCMUA is $1200 per year ($100 per month), insurance is $500 per year. Gross rent is $15600 per year ($1300 per month). Property is professionally and well managed. What are your thoughts on the overall investment as well as with cash vs. mortgage? Thanks