All Forum Posts by: Patrice Bocci

Hi David Flores! Yes, I have checked with my agent, and he said that both deposits would be in escrow and managed by our attorney. I'm currently shopping for an attorney, do you have someone to refer me to? Thanks!

Hi there! I'm a new investor from Brooklyn, NY, and I'm planning on investing in Newark, NJ. Right now, I'm working with an agent to familiarize myself with the New Jersey market and purchase process. We found two properties and would like o put an offer on both, but while discussing the next steps with my agent, he mentioned that there is earnest money that comes in two deposits that are ten days apart from each other. The first deposit is $1000, and the other is $5000. Since I'm new to the process, I'm wondering if this is a common thing. Thoughts and advice are welcomed!

I'm just looking at it as a house hack. 

Hi Fasil - We plan to put 3.5-5% down. We've been looking mostly in Newark, because since my husband's job is in Times Square, we are hoping to find a property that allows him to have no more than an hour commute. 

I figure we will be losing income from one of the units, so I plan to AirBnB our unit occasionally and the basement.

Btw: its Patrice. Thanks!

Hi Aaron, 

Thanks that's what I kind of figure regarding cash flow. 

I appreciate your thoughts. 

Hi there! I'm a new investor from NYC looking to invest in New Jersey. My husband and I have started the process of looking at properties and analyzing, making sure the numbers work. Our goal is to house-hack our first property by using an FHA loan, but when we are analyzing a property, we always seem to find ourselves faced with negative cash flow.

I think that's expected when one plans on using an FHA loan, but to make up the difference and get on the path of "living for free", I plan to Airbnb another part of the house like the basement. My husband thinks that we should keep on looking for a deal that will allow us to have a positive cash flow or at least something that will put us in the low negative hundreds.

My question is, does either scenario seem realistic? Also, if anyone is currently investing in New Jersey, what are some areas that you think will cash flow? All thoughts are welcome!

Thanks for the invite! My husband and I will be attending. 

Email sent!

PM sent!

Thank you for the excellent advice! It looks like I have a ton of homework to do tonight. I'd never considered a turnkey, but that is something to look more into. I appreciate the lists, tips and the first action steps in getting started!