All Forum Posts by: Nidia C.

I purchased a multi family last year with 5% conventional. From what I read, that is harder these days.

@Manish Shah Yea, as much as I don’t want to pay 7% interest, if the cash flow is positive and loan amount is approved, I’m going to give it a go.

Anyhow, thanks for replying and good luck with the property!

@Andrew Postell Thanks Andrew, that’s why BP is great! I’ve spoken to a couple of lenders, just weighing my options.

Hi Manish, did you end up finding a lender? I'm going through a similar situation at the moment. 

I only play if my colleagues start an office lottery pool. I play to contribute to office morale! Obviously, it would be nice to win a couple million. :)

Typically, we play a couple of times a year. Recently, it's been happening a couple of times a week due to the billion dollar record. 

1 unit so far; looking to add 2 more this year.

Hi Carlos Toussaint , I think first you need to make sure you are looking at the right market. Is this in Newark, NJ or Phillipsburg, NJ? (they are about an hour/60 miles apart)

Hi @Rez Cury The seller went with another buyer. I will PM you with details.

Hi everyone! Currently analyzing a major rehab in the Ironbound in Newark, NJ. It is a store (zoned for goods or a small deli, no restaurant), 2 apts, and attic (no kitchen); 3100 sq. ft. Projected rent roll is $5,500/6,000. About 3 blocks from Penn Station. Needs about $170,000 in rehab. Owner is taking offers at the moment. 

Unsure of my offer because I do not have experience with commercial properties. ARVs seem to be within the 500K-600k value. My hopes with this property were to partner with a buyer. However, the buyers I've spoken to in the area are interested only in residential properties. I don't want to "waste" this lead, and understand that not every lead translates into a deal. 

Was hoping for some advice, especially if familiar with the area. 

Valerie King I think credit karma is pretty accurate. My mortgage rep recently ran my credit and the credit karma score was just off by a few points. I also check my credit cards and mint.com and find the score to be similar. It varies from person to person, but so far I've found consistency.