All Forum Posts by: Ryan Solomon

My post was cut off!! To be continued: <$100 monthly debt, and my cobwr and I have $0 present housing expense. The IP has close to a 10yr history of rental income with 0% vacancy and the prop has a lease agreement signed until May 2023 for a bit over $60k (for the May 2022-2023 year). Are there any mortgage lenders out there that I can talk to and discuss a portfolio loan with? Thank you all in advance! Love this group.

Hi BiggerPockets family! I have an IP deal that I came across. What I need help with is the financing. I have a partner who is looking to co-borrow. I am seeking a portfolio loan; ideally my partner and I would be using roughly a $20-30k loan (from a family member) to help with the down payment on the property and leave us with sufficient reserves to qualify. Using a bit over 12k monthly W2 income, collectively have <$100 monthly debt, and my cobwr and I have $0 present housing expense. The IP has close to a 10yr history of rental income with 0% vacancy and the prop has a lease agreement signed until May 2023 for a bit over $60k (for the May 2022-2023 year). Are there any mortgage lenders out there that I can talk to and discuss a portfolio loan with? Thank you all in advance! Love this group.

@Brett McManus Sweet! Will definitely check it out

Hey guys!

I’ve been doing a TON of reading lately. I am trying to build a reading list that I would like to run through over the course of next year... I’ve read a bunch of Brandon Turner’s books, a ton on basic investing, and other miscellaneous stuff. Anyone have any awesome suggestions for me? Looking for books on real estate investing, lending, mortgages, life lessons in real estate, etc. Anything that will either teach me something or inspire me!

P.S. Sorry if this isn’t the right forum to post this question on... little off topic. But if you could drop any suggestions that’d be amazing.

Thank you!

@Natalie Schanne Awesome insight! Thank you! I am currently renting an off campus house at The College of New Jersey, and I know there is great potential in that area! Rent / head or rent / bedroom makes the investment much more profitable... my recent concern with off campus housing is that COVID has made off-campus student housing much less desirable with online schooling, etc. It is probably too soon to tell, but have you noticed more vacancy than usual? And if I go the other route, and look at the too-big house concept in areas of NJ close to transit, are there specific towns that you would recommend me to research? Again, can’t thank you enough for the help!

@Joseph Scorese Appreciate the input! I have some time (as I have yet to even get my first pay check), but I will definitely prequalify first. However, I do have one question... after my first year of employment my salary will increase by roughly 30% (conditional on passing licensing exams, etc); would you recommend me wait until my salary increase before I prequalify? Will I have more opportunity that way? Thanks

Hey guys,

I am new to the forum—I appreciate any and all help! I am set to graduate from The College of New Jersey this December and my mind has been wondering about the future... preferably where I want to live and how I want to begin my real estate investing career. I am set to begin work in January, and the job is fully remote, so I do not need to be in any set location. However, I am born and raised in NJ and would prefer to live somewhere in the state. My goal has been to house-hack, preferably with a duplex or triplex. Anyone know of a specific area of NJ for me to begin my search? My initial thought was to search in Northern Jersey (closer to NYC), as COVID has sparked a work-from-home movement and people move out of the city...but I am open to suggestions, and would love to be pointed in a general direction ideal for duplexes/triplexes. Thank you all!