All Forum Posts by: Michael Lee

Hi @Ray Agosto

You won't be able to even bid at the sheriff sale without the certified check.

As for the mortgage, you can get co-signers on the loan to help with the qualifications. As @Christopher Blanco mentioned, they will need to each qualify individually. I believe for an FHA loan, you cannot have more than 2 people. If you have more people, it becomes an investment property, which is not what the FHA loan is designed for. @Drew Walls can you provide some insight?

Hey @Domonick Dangerfield

Welcome to BP! Definitely speak with a mortgage broker to see how much you can afford first before you start shopping, that way you'll know what you're looking for and what you can afford. He/she will also be able to give you an idea what loans are available for you. 

A good strategy is to use an FHA loan to purchase a 4 family and live in 1 unit and rent out the rest.

Best of luck!

Hi @Michael Peralta welcome to BP!

In real estate, money is made when you buy. Anywhere you decide to buy, just make sure you know the property's value (and pay below :))

If you need help exploring some areas, feel free to reach out to me. Best of luck!

@Michael O. which part are you getting a conflicting opinion on? The need to sign a listing agreement before listing on the MLS? Or that it needs to be the Owner signing the listing agreement?

There is no green card for 2 family, only 3 family+

The Bureau of Housing Inspection is the agency responsible for multi-unit dwelling, you can see more below. Hope this help!

http://www.state.nj.us/dca/divisions/codes/offices/housinginspection.html

Hi Michael,

Before you can list it on the mls with an agent, you need to sign a listing agreement. And since you dont officially own the property, that agreement cannot be created. Hope this helps!

Hey @Christopher Veljkovic, PM’ed you with my contacts.

Hey @Bernon Fernandez ,

Welcome to BP! Looks like you're doing something right. What are you trying to do in real estate? Flip? Buy-Hold?

I joined the brokerage I'm in now because of the opportunities to work with many seasoned investors and flippers. If you're interested in grabbing coffee and talk real estate, feel free to hit me up! (I am in Jersey City most of the time.)

Best of luck!

I know an investor from Morris county who actually buys them directly from out of the country and imports it into his warehouse in Jersey (he does lots of flips). If there's a lot of interest on BP, I can reach out to him and see if he's willing to sell @ wholesale prices. PM if anyone has interest!

Hi Latasha, 

Which area are you looking to invest in South Jersey? My brokerage has REO properties in Jersey, a lot in South Jersey as well. I can take a look and send you some multifamily properties to look at.

Best of luck!