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All Forum Posts by: Stephen Karakitsios

Stephen Karakitsios has started 2 posts and replied 17 times.

Post: Getting loans under an LLC

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

Any experiences on hiring an attorney to create the LLC or are a majority of people just creating them themselves?

Post: To flip or to hold - Trenton NJ

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

@Gerald Boone hey Gerald, can you share some specifics on your properties?

What part of Trenton are you in and how is the tenant pool?

Post: Emerging neighborhoods in South Philly

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

Hi @Liz Spina, I am looking for properties that fit this category as well but be all in around 75k or less. Please keep the thread updated with any progress you make.

Post: West Philly Rental Deals

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

Hey @Alexander Brian Frederick, did you end up purchasing this property? I'm also looking at properties in West Philly but further west towards Cobb's Creek. Would love to hear about your experience and thoughts on the area.

Post: Who is investing in south jersey

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

Hey @Richard B. Hill I’m an investor in South Jersey too. I have a rental in Gloucester City. Shoot me a DM so we can connect.

Post: South Jersey Investor (Camden, Cherry Hill) Looking To Network

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

Hey @Andy Castle, I’m an investor in South Jersey as well. Would love to hear about your experience in Camden because I’ve thought about investing there. I went to school at Rutgers - Camden and have seen the area improve a lot.

Post: AS IS clause but I still want an inspection

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

@Daniel Kent

Hey Dan, definitely have the inspection clause written clearly in the contract. It will save you money down the road and avoid any unforeseen headaches. I didn’t include an inspection clause in my offer and I just realized that I had to get a new furnace because the one in the property was illegal. The margins still look good because I used conservative numbers but just an example of things that could have been avoided. Good luck.

Post: Gloucester City CO and Brick Pointing

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

@Daniel Kent

Hey Daniel, congrats on the property. I heard there a couple inspectors for the city, and some of them are pretty tough. I actually have my CO inspection scheduled for Monday so I’ll let you know my results. Good luck!

Post: My current status: 3 rental properties... Am I doing it right?

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

@Chris B.

That’s awesome! Well done. Do you have any suggestions or resources you would recommend looking at to get more familiar with the auction process before going in there?

Post: My current status: 3 rental properties... Am I doing it right?

Stephen KarakitsiosPosted
  • Rental Property Investor
  • Sicklerville, NJ
  • Posts 17
  • Votes 8

@Chris B.

Hey Chris I think you're doing a great job. Numbers look awesome and you are building a lot of equity through your rehabs. I am also using the BRRRR strategy right now, getting close to the end of my rehab and looking to refinance ASAP.

I know this is a bit off topic but could you share your experience with the auction, the auction process and some resources you used to prepare yourself for the auction? I’m also in NJ and have found what look to be great deals on Auction.com but I’m not sure where to start.

Thanks,

Steve