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All Forum Posts by: Patrick Martone

Patrick Martone has started 37 posts and replied 125 times.

Post: Becoming a Licensed Contractor to obtain FHA loans and rehab

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

If we can't be our own contractors, what can we do to get the bare minimum done. Is it possible to do interior work ourselves once the loan is in place and the funds are released from escrow?

Post: Any experience cashflowing duplex/triplex in these cities?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

@Ceary Williams I'm a newbie too so forgive me if I'm wrong. Its NJ in General, highest property taxes in the country.. I read a lot of people saying that its hard to cashflow in nj due to the taxes. Thats why I'm looking elsewhere.

Post: Any experience cashflowing duplex/triplex in these cities?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

@Deborah Pyburn Thank you!

Post: Any experience cashflowing duplex/triplex in these cities?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

So where I live (NJ) property taxes are too high to cashflow multifamily properties. I want to relocate and purchase a multifamily property to rehab/live in and then rent out. 

If any of you have opinions, or suggestions on specific neighborhoods, or experience with these locations that would be helpful.

Orlando, fl

Dallas, tx

Denver, co

Atlanta, ga

Memphis, tn

Nashville, tn

Las Vegas, nv

Charlotte, nc

Raleigh, nc

Miami, FL (Little Haiti)

Columbus, OH

Boise, id

Philadelphia, PA. ...

Phoenix, az

Minneapolis, mn

Detroit, MI (I personally like the motor city)

Seattle and Portland are enticing, but the Rent to Purchase Ratio is too high.

Post: Multi Family Homes

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

I am interested in Boise as well, a lot of west coast people are flocking there.

Post: Any civil engineers or ex civil engineers?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

@Jeff Kochtanek Thank you, that is very helpful

Post: Miami investors: what are your thoughts on Little Haiti/Lemon City?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

They recently released a massive redevelopment plan for Little Haiti.

Post: What would you do If you were investing $80,000

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

@Chris Schoonhoven Are you looking at areas in the Jersey Shore area? I am in a similar boat as you financially and based out of Monmouth Beach/Long Branch.

Post: Cashflow in New Jersey?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

@Philippe Schulligen Thank you for taking the time to put that together, @Olga Roginkin thank you for the recommendation.

Post: Any civil engineers or ex civil engineers?

Patrick MartonePosted
  • Engineer
  • Monmouth Beach, NJ
  • Posts 132
  • Votes 25

Any CEs or ex CEs? If so how have you applied your knowledge, experience, and skillset to real estate?