All Forum Posts by: Ned Micic

I'm looking to get into my first flip within the next couple months. I have about 300K cash and have been looking for a deal for a few weeks now. I need some advice from some of you experienced flippers. What type of profit margins do you need in order to take a deal? I made some offers on a few properties but I feel that if i'm not making at least $50K ARV its too risky. How do you evaluate if a deal is a good one?

Thanks for the advice! I just did some research and found out that the park fees are $780 plus utilities. It wouldn't make sense to rent and I dont have enough experience to get into a mobile home flip. I'm going to stay away for now. Thanks again!

Hello everyone! I came across someone looking to sell their mobile home at a great price. I have never purchased a mobile home and have a few questions. How do property taxes work on a mobile home? Do they also have to pay a fee to the mobile park? I read somewhere that mobile homes have high gas/electric bills is this true? I plan on giving this person a offer is the numbers work out. Anyone here with experience on purchasing mobile homes?

Hello BP! I have a question in regards to tax appeals in NJ. I own a 2 family home under an LLC. Is it required for LLC owned properties to use an attorney? Also, must I get an appraiser to do an appraisal on my property or I can i just pull up comps to prove that my properties appraisal value is less? If possible I'd like to do as much as I can myself. I am a licensed realtor and have no problems findings comps in my area.

Bump

I'm currently in negotiation to purchase a vacant raw parcel of land. Im planing to sit on the land for now and possibly one day sell it or build a home for myself. What questions should I ask before buying? What's important to know before I purchase raw land? The owner asked if i had any contingencies. Do you recommend i add a contingency with my offer?

Buy another multi-family, rehab, then refinance

Hi, I currently own a house in northern NJ that I plan to rent within the next month. I want to rent my current home and get a mortgage to buy an investment property in a near by town. I currently have no debt beside the mortgage on my home. I have an excellent credit score and decent salary. Will it be a problem for me to get a mortgage to buy my next property? The home was purchased Oct 2015 Will the bank take into consideration that I will have my current home rented out? I found a tenant that is interested in a 5 year lease! Would it help to present the mortgage company with the 5 year lease?

Hi, I plan on renting my current home for one year. Do I have to change my homeowners insurance policy while renters are occupying my home in order to be covered?

Larry K. Hi Larry I'm a new real-estate investor located in northern NJ. I came across this post and would love to get an opportunity to shadow you in a sheriff sale in Passaic or Bergen county. Please let me know if you attend any sheriff sales in the near future. Thank you!!