All Forum Posts by: Melissa Justice

Hello @Sinuway Martinez,

There are real estate investment opportunities across various markets, particularly in the Midwest and Southeast regions of the U.S. These areas not only offer reasonable purchase prices for many investors, but also feature turnkey homes—either newly built or fully renovated—ready for tenants, with systems that still have around ten years of life left. Additionally, properties in these markets tend to appreciate in both value and rental income.

The cash flow from a property will depend largely on your down payment. A smaller down payment might lead to a break-even situation or even negative cash flow. However, some investors are comfortable with this approach, especially if they prefer to limit their initial capital and plan to refinance a few years after purchase—particularly as discussions about the Federal Reserve lowering interest rates into 2025 continue.

Ultimately, successful investing hinges on selecting a growing market, a desirable neighborhood, and assembling a strong support team. Managing everything solo can be quite time-consuming, so collaborating with a reputable team is beneficial. For the past decade, our team at Rent to Retirement has been helping investors navigate this process effectively with BP. I'm here to answer any questions you have about market analysis or getting started. Most importantly, make sure to choose a market that aligns with your investment goals!

Wishing you great success!

Melissa Johnsen
Rent to Retirement Investment Strategist

It's likely that the contractor they used to hire to remove the tank didn't close the permit with the township. I would try and get a hold of the contractor to close it out. Maybe the sellers have documentation to see what the company's name was?  The town should have that already on file too for when the permit was applied for. You can always run an OPRA (free open permits search) on the property as well. Every town in NJ has the doc on their website. 

If the property is in Newark:
OPRA Records Center | Newark, NJ (govqa.us)

Once that is submitted via email the township has 7 days to get back to you with the information requested. I usually fill out the form like this:

1) All open and closed permits on (property address) (lot) (block)

Let me know if this helps! 

-Melissa 

Hey @Tyran Melong,

What is the open permit for exactly? - for an underground oil tank that was already removed but that was just never closed with the contractor or seller? Let me know. I have sold RE in NJ for almost 15 years so can probably help if I have more details. 

Thanks! 

Melissa Johnsen

Turnkey rentals are a fantastic option - new builds or completely rehabbed homes, tenant ready, some tenanted, systems with 10 years of life remaining on them and property management teams in place -especially in the Midwest and Southeast of the country! That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. 

Melissa Johnsen
Rent to Retirement Investment Strategist

Hey @Michael Dallas,

That's wonderful that you already own an REI property right out of college! I am very impressed!

Real estate investing can be a great idea for several reasons:

1. Potential for Appreciation: Over time, properties often increase in value, allowing investors to build wealth through appreciation.
2. Passive Income: Rental properties can provide a steady stream of passive income, helping to cover expenses and generate cash flow.
3. Tax Benefits: Real estate investors may benefit from various tax deductions, such as mortgage interest, property taxes, and depreciation.
4. Inflation Hedge: Real estate tends to keep pace with or outpace inflation, making it a good hedge against rising costs.
5. Leverage Opportunities: Investors can use financing to purchase properties, allowing them to control larger assets with less capital upfront.
6. Portfolio Diversification: Real estate adds diversification to an investment portfolio, potentially reducing overall risk.
7. Tangible Asset: Unlike stocks or bonds, real estate is a physical asset that you can see and manage, providing a sense of security.
8. Control Over Investment: Investors can influence property value and income through renovations, management decisions, and property improvements.
9. Building Equity: As you pay down a mortgage, you build equity in the property, which can be accessed later through refinancing or selling.
10. Community Impact: Investing in real estate can contribute to community development and improvement, positively impacting neighborhoods.

These factors make real estate investing an appealing option for many people looking to grow their wealth and secure their financial future.

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. It's helpful to work with a reputable team. That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa Johnsen

Rent to Retirement Investment Strategist

Welcome @Rebecca Morris,

These are the 10 first steps I would recommend to get started in REI (real estate investing):

1. 1) Educate Yourself: Read books, take online courses, and attend seminars about real estate basics, market trends, and investment strategies.
2. 2) Set Clear Goals: Define what you want to achieve in real estate—whether it’s buying a home, investing in rental properties, or flipping houses.
3. 3) Choose Your Niche: Decide if you want to focus on residential, commercial, or industrial real estate, or perhaps a mix of these.
4. 4) Research the Market: Analyze your local real estate market. Look at property values, trends, and neighborhoods to identify opportunities.
5. 5) Create a Budget: Determine how much you can invest, considering all associated costs like down payments, closing costs, and maintenance.
6. 6) Build a Network: Connect with real estate agents, investors, lenders, and other professionals. Networking can provide valuable insights and opportunities.
7. 7) Get Pre-Approved for Financing: If you plan to buy property, secure financing by getting pre-approved for a mortgage or exploring other funding options.
8. 8) Start Small: Consider beginning with a smaller property or investment, such as a single-family home or a small multi-family unit, to minimize risk.
9. 9) Conduct Due Diligence: When you find a property of interest, perform thorough inspections, research the title, and assess potential for appreciation and cash flow.
10. 10) Take Action: Once you're ready, make an offer and start your real estate journey. Be prepared to learn and adapt as you go!

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa Johnsen

@James Kiefer

There are many REI opportunities in different markets - markets in the Midwest and Southeast of the country are great - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent. The amount of cash flow on a home will of course be contingent on the down payment. Putting less down may subsequently put you in a break-even scenario or possibly even a negative cash flow. However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. It's helpful to work with a reputable team. That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa

@Rafael Ramos

Welcome to the wild world of REI! It's a trip for sure :-)

There are many REI opportunities in different markets - markets in the Midwest and Southeast of the country are great - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent. The amount of cash flow on a home will of course be contingent on the down payment. Putting less down may subsequently put you in a break-even scenario or possibly even a negative cash flow. However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. It's helpful to work with a reputable team. That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa

@Teddy Mao

There are many REI opportunities in different markets - markets in the Midwest and Southeast of the country are really great - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent. The amount of cash flow on a home will of course be contingent on the down payment. Putting less down may subsequently put you in a break-even scenario or possibly even a negative cash flow. However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you. It can be a lot of time and work if doing it on your own. It's helpful to work with a reputable team. That is what our team at Rent to Retirement has been helping investors to do for a decade now with BP. I'm happy to answer any questions you have about analyzing markets or getting started. Most importantly, choose a market that aligns with your goals!

Wishing you the best of success!

Melissa