All Forum Posts by: Stephen Kunen

I live in the west part of New Jersey and I do know people who commute from east Stroudsburg to where I am. So it probably is a decent area to invest in. With that said, there are definitely more people who commute from Lehigh valley to New Jersey. 

I thought there is still a housing shortage. This definitely wouldn’t help...but they had accumulated quite some debt from the revitalization project, it seems 

Wholesale it or partner with someone who has money and/or experience 

John, based on my experience, the rents can be higher and the vacancy lower. It depends on unit composition of course but unless they are both /all studios the rents can be easily pushed up if you fix up the property a little.

@Joshua Hilliard Any luck finding a multi in New Brunswick?

We are looking at a 11 room / unit boarding house which cash flows very well. We need a lender that can work with such deals. Please PM me for more details. Thanks

@Sean Vitale in my opinion, a 4-unit is better because it may appraise better once it’s fixed. There are a lot more duplex and triplex our there, some of which were sold as distressed properties. As such  when you try to refinance or sell, a four unit will appraise better. You are saving up your down payment anyway, I would wait until a good 4 unit comes along. if you’re only putting down 3.5%, the difference between the down payment for a 4 unit and a duplex/triplex is not gonna be that big. 

Congratulations Rob! Did you use any phone answering service at all or you just pick up the phone yourself?

Hi BPers, can anybody share a sample JV / Operating Agreement for flipping? In our arrangement, one party is responsible for deal flow and funding, and the other for project management (including finding and managing contractors) and listing it for sale once it's fixed up. Thank you!