All Forum Posts by: Raymond Y.

Thanks for the responses everyone.

Jennifer, I looked at Zillow to see what current 3 bedrooms are renting out for. I actually see alot of units being rented for $1,100 but I used $1k to be conservative. 

I would be interested as well.

I currently live in Jersey City, but I work in Manhattan. Any good recommendations on banks/credit unions that are investor-friendly in Jersey or Manhattan? I am looking for deals now, but wanted to plan ahead on which bank to use for the refi.

Noobie from New Jersey here. I am interested in the Allentown area and wanted to get the locals to check my numbers. Lately, I have been checking on Zillow to understand the market and I found this one that looks like an okay deal. I am still getting up to speed on everything, so most likely I am going to pass on this unless this is a home run deal.

Notes:

Listed at 50k and for this purpose, I am assuming I can get the price down to $40k

20k repairs: From the pictures, it seems like everything is in good shape and just needs some touch-up.

$80k ARV: based on what other properties are selling for on Zillow after filtering for similar sq footage and bedrooms

1k rent: Seems like a fair conservative rate 

Property tax: pulled from the county's website

Vacancy/repairs/property manager - Are these amounts standard?

Insurance - I pulled this number out of thin air. What should I be expecting?

Thanks in advance for anyone that takes their time to look through my analysis!

Home in discussion:

https://www.zillow.com/homes/for_sale/Allentown-PA...

Another noobie here and this is a informative post by William. Does any one have good recommendations for agents for Camden and Gloucester County?

 Yeah that area is pretty good. Lots of good lunch spots on 56th. Where do you work now?

Yeah broke according to Manhattan standards, but I do have down payment money to invest in South Jersey. Are you familiar with any agents that are investor-friendly?

Thanks Deep, I hope I can be as successful as your friend. I am sure once my first deal is done, things will get a lot easier.

I work close to Trump Tower on 5th ave. Haha I am glad you got my sense of humor. I figured I try to help out BP members in any way I can because I will be asking a lot of questions while I am getting used to things.

Hi everyone!

I created an account a year ago and didn't take action until now because I thought it wasn't a good time to start real estate until I was sitting on a mountain of cash. Still broke now, but recently I started to listen to the podcasts again and I figured there is a never a better time to start than now. So here I am, another aspiring investor looking to BRRRR SFH in the ARV 100-150k range around South Jersey.

I don't have any RE experience outside of reading various books and podcasts, but I can help others in online poker, Clash of Clans, Yu-gi-oh, Big 4 accounting, and watching my Niners tank for the #1 pick. I am excited to get started!