All Forum Posts by: Nicky Faucett

@John Morgan any particular person I can contact there?

@John Morgan do you have personal experience with this lender that you would be willing to share?

What would you do in this situation?I am an investor and Realtor in the south jersey area. I have my 7th rehab under contract and my current HML got a ridiculously low appraisal in, with comparables not even in the same town. I am appealing it, but now my confidence is shaken that my lender would accept it without even questioning the comps. Would it be worth my time to submit an application elsewhere? I am supposed to close March 30th ... or just let it go with the current state of the world. Not sure what to do. I still feel my numbers are solid and am confident in my valuation, but maybe a blessing in disguise???

Hi Everyone. I have a rehab on the market in Cherry Hill NJ that I think is priced well but I'm not getting the showings I expected. I think it turned out nicely, especially for what the property looked like before, but I'm not getting as many people through the door as I would like. Please take a look at the photos and let me know if you have any suggestions. Property is listed through my broker (I am an agent as well) and I think the improvements are good, but I must be missing something. Any feedback would be appreciated:

Before photos (hopefully this link works) 
https://matrix.brightmls.com/Matrix/Public/PhotoPopup.aspx?n=24&i=0&L=1&tid=9&key=731624375&mtid=1&View=G

After Photos:

https://matrix.brightmls.com/Matrix/Public/PhotoPopup.aspx?n=34&i=0&L=1&tid=9&key=840216018&mtid=1&View=G

Depending on how far you are willing to travel, you can try PA Home Store (pahomestore.com), Heeby's (heebys.com) (mostly RTA but good quality), or you can try a surplus liquidation auction, such as

(surplusliquidatorsauction.hibid.com/). I've gotten great products from the auction ... 

Here is an excerpt from a bulletin put out by the NJ Dept of Community affairs - Nj Anti Eviction Act code N.J.S.A. 2A:18-61.1(j):

"j. Tenant Continously Fails to Pay Rent or Habitually Pays Late If the tenant continuously fails to pay rent or habitually pays late, after written Notice to Cease, the landlord may file a suit for eviction. A Notice to Quit must be served on the tenant at least one month before filing a suit for eviction. Note: The Courts have ruled that habitual late payments means more than one (1) late payment following the Notice to Cease. Also the N.J. Supreme Court ruled that a landlord after giving a tenant a notice to cease late payments, must continue to give the tenant reasonable and sufficient notice when accepting further late payments, that continued late payments from the tenant would result in an eviction action. If the landlord does not give this continued notice, the original Notice to Cease given to the tenant may be considered waived by the Court."

I am not an attorney, so definitely get legal advice if you need ... but this should at least point you in the right direction.

I live in the Burlington County NJ area, am a Realtor and investor (albeit not as experienced as some on BP forums). I would just chime in that starting out, a hands on approach seems most practical, just so you can get a true understanding of what goes into managing a property. Otherwise, once you do go to use a PM company, how will you really know if they are doing a good job (or as good as you would do it, if you've never done it before?) There are also still deals to be had in NJ, depending on the kind of property you want and what ROI you are shooting for. Towns along the Riverline are good places to look into. Just my two cents. :)