All Forum Posts by: Steven McCutcheon

Could swallow some pride and use the cash for keys method. Offer 200 or 300 bucks for them to hand over the keys. Not a fun strategy after being out 900, but avoiding legal fees which are probably more might be the better option. Hope it works out!

If you plan on wholesaling check all the laws in your state as they differ. You will want to separate yourself from all the ones who aren’t as good or tend to be shady about their business. It can be done right and profitable as you build up a good reputation, but make sure you know how to market! Otherwise, look into other areas of real estate as well! Buy and hold as mentioned above is a great way to produce cash flow. Wholesaling is constantly buying supply so you can see some dead months

Obviously run your usual screening process and if everything checks out she needs to be considered. I would also check your local housing laws and see what happens when you accept a full years rent too. If they become a problem and you need to evict for other reasons are you allowed to because you already accepted payment? Does the process become harder, are you forced to keep the money in escrow? Plenty of things to consider although a full year without a potential vacancy and rent is quite nice!

Was wondering if anyone knew of any good property management companies hiring in New Jersey. Before investing I would like to learn what being a landlord is about with the benefit of getting paid as well. I’ve looked on a bunch of sites and they all seem to ask for prior experience. I’m only a year removed from college, any ideas?

Hey Pierre, I have a great real estate attorney to use with excellent communication but is from the central jersey area. If you can’t find anyone from Union area let me know I’d be happy to introduce you to him!

@Jeff Laniado

First off, congrats! Definitely jealous of the spot you are in which is great because it gives you options. I would define your goals and what you want to do (Buy and hold, flips, wholesales, etc). Leveraging money properly is a great idea, but you obviously don't want to overextend yourself. If you're interested in freedom of movement and want to buy duplexes, look into house hacking. You can put significantly less money down, as long as you plan on living in the duplex for a year. You will gain knowledge of being a landlord from your current residence, and a new duplex, and you could be potentially living for free! Hope this helps and good  luck!

Joe Papp Is there a way to increase cash flow through rents? A one or two month vacancy could kill your cash flow. Can the current tenants take over paying utilities by installing separate meters? I feel only getting $100 per door might not be worth it to you in the long run. Check how dated are all the big capex items like the roof, plumbing, etc. Best, Steve

@Timothy Maldonado

What’s the location and time? Definitely interested!

@timothy Maldonado I know south Jersey is definitely cheaper than north, but I work in middlesex and would like to start investing up there. Potentially thinking of house hacking near my job for the sake of convenience for investing and working!

@andrewsyrios Thanks Andrew!