All Forum Posts by: Ronald Cooperman

thank you for getting back to me

No reason to lie.  When is good time for me to call

My partner and I are splitting our portfolio of SFR in New Jersey very amicably. We currently own approximately 60 SFR. All tenant occupied

I will own 31 properties valued at 4,000,000. Financed at 1,700,000. 

My credit score is 625.

I am 65 and looking to grow portfolio for kids, etc. 

I use outside property management 

I am looking to refi and cash out some cash to grow.  

I am looking to cash out refinance 70-75% of LTV at 25-30 year amortization.

Any suggestions?

thanks, and have a good day

Ron

Good afternoon 

We own 40 doors and are implementing Buildium.  

We are looking to outsource the uploading of data and day to management of software. 

If anyone had or knows someone with 2 years experience we are looking to pay for this service 

I live in Cherry Hill NJ. But that is unimportant

Ron C

We own 50 SFR's. We currently do everything in excel. I am not very computer literate.

I am looking to email spreadsheets on rent collections expenses and want leases stored, tenant communication on late pay etc. accounting, monthly P/L

Marketing background checks unimportant 

Does anyone use an outside person to run their software?

What should I expect to pay a month?

What software do you use?

what does software cost?

We bought the mortgage of a 5 plex rental property from a bank for 330,000 including back taxes.

Current rents 5000 and taxes are 700/m. New Jersey

We are going thru Sheriff Sale of property to obtain title.

The current property owner is a business friend.

Our all in cost 330,000 for the note and liens

Property worth 450,000

My investment company now owns the note and will purchase at sheriff sale unless someone buys property which will give me a 75,000 minimum profit.

Once investment company obtains title plan is to sell property to my son

My goal is for my son to buy the property for zero out of pocket and for my investment company to get a fair return and pay as little or no taxes on the gain.

Any suggestions on how to structure deal, price purchase etc is greatly appreciated

I am 65 and started investing in B- 3 br 1ba properties in NJ. My Ave property cost 80,000 and rents for 1100/m. Turnover is very low. I own 60 of these with very little problems

I am looking to get advice about selling this portfolio and buying STR's.

I am looking for advice from members who have done this. Help on strategies where to buy, 1031 exchange, should I buy existing STR's,is it worth the move.

@Lawrence Kutsovsky

I would refi and get some money together. There are a million investors chasing multi units and a million chasing 1 duplex or SFR. But there are very few chasing a portfolio of 8-30SFR's I just bought a portfolio of 10 tenant occupied at 70% of the appraised value. I am looking at a similar deal of 30. Seller asking 3.2 mil

Rent roll 370,000. Great area for cash flow and appreciation. I could get this deal for 2.8 mil. I just have to many other deals going on that have cash tied up

Hope this is helpful

@David Smith

I invest in Camden County and use Jules Lieberman of Greenblatt Lieberman. Jules was on the NJ council that set up the guidelines for evictions

@Shashy B.

Yes Gloucester City is rough on landlords. That said I love investing there and have 90% of my portfolio there.

Hit me up with any questions

Hello BP Community.

I am buying the mortgage from the bank on a 5plex in New Jersey.

The owner signed an agreement with a management company to collect rents and manage the property.

When I buy the mortgage can I fire the current management company and replace them with our in house management?

Can I direct the future rents to the bills I desire until we complete the foreclosure process.

Can I renegotiate the leases at expiration or at assignment?

Any advice is greatly appreciated.

Ron