All Forum Posts by: Ryan Fagan

We have a duplex in gloucester city. I don't love it but its doing well. It's a bit annoying you cant pay the city water/sewer online, and their building department is a bit... "aggressive."

Hey @Jake Davis, im right over in Westampton, NJ. Welcome to BP

I just closed on a property with this loan in order to rent out my current home and gain another rental unit. I’m finding that between the hud consultant fees and having to get the escrow draws in the back end, this loan will be a bit of a pain and cost a lot more than normal but I’m still happy with only having to put 5% down on the purchase+rehab.

I agree with the others here. Arbitrarily having the 1st to the 5th as a pay window is not that important as long as he pays on time in the cycle. It’s not being weak to set up his payment cycle to how the tenant is paid. If he is late in the new window then charge him a late fee.

Hey Jordan! Welcome to BP, it’s nice to see another Jersey Investor. I have done 3 flips including one in Camden NJ of all places. I’m also a real estate broker if you need anything or want to meet let me know!

I was in your situation about 5 years ago. If your main thing is going to be investing I would just go for a degree you are interested.  I took the Real estate BBA program at Temple but I got the most value out of the finance classes and not the real estate classes. I would say marketing would be good but most of what they teach in marketing is obsolete to me personally. So just pick something you are interested in!

we moved a small fraction of our investment company’s cash to bitcoin and we also are building a bitcoin mining rig. This basically helps in the calculations bitcoin and other currencies need to operate and in turn you receive small amounts of the currency. I believe the blockchain technology and the idea of smart contracts are interesting functions of the currencies. Now the question is bitcoin the currency that will become mainstream? Or is it ethereum or maybe a mix? Someone here said don’t invest anything you can’t afford to lose and that is our approach but we are bullish on cypto currency right now.

If you can refi and get good cash flow I would consider keeping it if I like the area. The cash flow would help your buying power for your next investment.

I just had a fire on a property my mom owns but I manage. She has Usaa and the amount they are giving us is much greater than the cost to rehab the house. It seems the conventional wisdom is to use a PA but I’m not sure that applies to all situations especially if you know how to run a rehab. I am documenting the process on YouTube so check out what the damage looks like https://youtu.be/gEjY7nAaZj4 and then here is an update (second half of the video). https://youtu.be/zDlKdz43aHs I’ve had more problems dealing with the mortgage company who holds the funds in escrow. USAA have been great so far.

Welcome to BP! I am a broker and Investor in Burlington County. BP is an amazing resource and you can learn just everything you could ever want to know on here.