All Forum Posts by: David Simon

Ron, thanks for the reply. Can SJCU loan to entities like an LLC?

I have am looking to purchase a single-family home in Berlin, New Jersey (Camden County). The property will need to be owned by an LLC, so I need a commercial loan. Anyone out there have any good (or bad) experiences with commercial lenders in the area? Perhaps even a contact for a lender who might be interested? The asking price for the home is $97,000 and I wouldn't want to offer more than that.

Thanks,

David Simon

@Carson Kesner

I have a Single family home in Philly and the tenant pays for the year up front in cash. Just collected year three’s rent in October. It has been the best financial windfall I’ve ever had. They are dream tenants. They called me once when the roof was leaking and once when the refrigerator was leaking. Not entirely sure how someone interested in making a profit could have a problem with this arrangement.

I am interested in buying a HUD Home and have a registered real estate agent that can get me through the process. My only issue is that he claims that I need to be able to document proof of funds when submitting my bid. I can; between credit cards and bank accounts, etc. But I'd really rather not have to disseminate all that information if I dont have to.

Does anyone have any experience with this? I'd love to hear from someone who has been through the process.

Yes it is

I am actively seeking a single-family home to purchase for an investment opportunity. We are specifically looking for a four-bedroom house -- or a three-bedroom house with at least 1,500 square feet. And we are looking in Merchantville, Somerdale, Delran, Maple Shade, Voorhees, Evesham and Cinaminson. We are looking for properties that need work. Ideally, we would like the purchase price at $50,000 or less. At that price point, we can offer a cash sale with a fast closing. If the price is higher, we may still be interested, but financing will come into play soon thereafter and we might not be able to offer a cash sale.

If you or anyone you know has a single-family home that fits these criteria, please have them contact me. All of my contact info is on my web site at www.davidMsimon.com.

I'm glad someone is going to be there early. I'm going to be about 10 minutes later to my own meetup! Forgive me. But I'm sure y'all won't even notice. It's going to be a great meetup.

South Jersey Standing

Real Estate

Networking Event

November 13, 2018

7:30 to 9:00 p.m.

Double Nickel Brewery

1585 Route 73

Pennsauken, NJ

You are invited to the third South Jersey Standing Real Estate Networking Event. This event is for people who want to network and chat about all facets of real estate investing. Most meetups involve an educational component or a sales pitch, such as a speaker or presentation on a product. The “Standing” meeting has none of that. What it has is you and people like you who want to network, share experiences and do deals. In fact, at the “Standing” meetup, don’t sit down and get comfortable talking to the person next to you; move about the room and talk to as many people as you find interesting. No one will tell you to take your seat for a salesperson to pitch you a new product.

This is our third meetup, and the first two have been delightfully successful. But that doesn't mean that we can't continue to grow. Sometimes the best deal is just outside your comfort area. Once a month, come ready to chat with anyone and everyone who wants to further his or her real estate investment career and do deals.

Hope to see you there,

David Simon