All Forum Posts by: Steven McCutcheon

@Rob Miller

If everything has been properly treated and no sign of bed bugs for 4.5 years you should be in the clear. Does seem a little shady that you were just provided the information so late. Have the sellers do an inspection if possible!

@Orlando Goodon

What if a slowdown doesn’t happen until 2021? What if their is a mini crash but there is so much cash on the sidelines waiting for it that the market picks right back up?

So many questions because you can’t time the market but if you’re planning on holding onto a property or a few long term, why not pull the trigger?

What will you gain waiting on the sideline?

@Sandy S.

That’s exceptionally long, 14 days should be more than enough. If it’s a unique property and they need more time that can usually be discussed.

Look into something called “Continue to Show” where you might be under contract but can still show the property.

@Kyle Brown

Evict or cash for keys. NJ eviction process can be drawn out or give the tenant 300-500 bucks to move out and this way you can get it rented again ASAP!

@Bo Lee

Hey Bo,

Where in Sayreville are you looking? A certain area needs flood insurance!

@Jose Mancia

Welcome Jose! You’re in the right place for all things Real Estate. What part of NJ are you thinking of investing?

@Malka Fischman

For Central Jersey you could be looking in South Amboy, Freehold Boro, Keansburg, Asbury Park, and Neptune. If you go a little farther into Ocean there are some good beach towns too!

@Nabeel M.

Hey Nabeel,

I’m actually a Real Estate Agent in NJ covering Monmouth, Ocean, and Middlesex Counties. If I can be of any help to you, feel free to reach out!

Best,

Steve

@John Libretti

Hey John,

Unfortunately my go to attorney stays away from wholesaling! Wish I could help more on it, but best of luck!

@Marcus Johnson 

Well thank god I already used my auto insurance when I got rear-ended, or maybe I would of taken you up on that. Not sure how my words seemed to piss you off for me offering my advice.

Term and Whole Life each have pros and cons and it depends on a person's wants and needs. If you just want to hedge your mortgages with term insurance so your family isn't put in a bad spot that's a good thing, I'm happy you have coverage. Way smarter than people who don't. I have both term (350k) and whole life (250k). 

I have Term to cover my student loans that my parents would be stuck paying with or without me alive, a mortgage that my girlfriend couldn't afford by herself, and one hell of a vacation everyone in both our families can go on to celebrate my life. Problem with term is if I don't die, I just lost the money I put into it, and if I want more when it runs out it will be more expensive than my whole life now. Also, I can be in worse health and not qualify for it any longer. Could be a large burden on my family and the people I care about in the long run that's easily avoidable. 

My Whole life which I stop paying at 65 and lasts the rest of my life is for legacy, and tax burdens when I die. I'll have 3x the amount of money I put into it in cash value at 65, and it continue to grows exponentially if I want. So that 250k death benefit could become $2 million if I lived into my 90's. I can withdraw the money like a retirement fund, it's tax free, and while getting a 6% dividend every year on it. I can take a loan out against my policy at any time if I want to use it for a real estate purchase if needed. The policy can be rolled over into an annuity if I want a guaranteed monthly income for some reason. It's the safest place to park my money at 6% increase no risk, where a bank my current rate is about .15%. Best of all, it's very liquid, unlike a house. 

This insurance is just one part of my retirement plan, but to me very important. Allows me to be risky with everything else, and not leave anyone with a debt or burden. For me to cover the extra cost of payment, I need to sell one extra 200k home, in a market where my average sale is 400k. 

I'll be able to take money from retirement accounts, savings, life insurance, rental income, etc. My objective is to create different pockets of wealth, so to fit my wants/needs it makes sense. 

It might not fit into you and your wife's plan which is fine, but it can work for others.