All Forum Posts by: Steve O.

@Daniel Kim what did you do with the Heloc, after you used for your down-payments? Do you just keep paying it (well your tenants) or cash out refi? I just used a heloc for a Dp and have a fixed rate for 1 year, then It adjusts to prime+1%.

@Bryce C. The property wouldn’t qualify for a mortgage?

@Tyler D. I feel with RE you have more

Control over your investment, that's if your in a 401k/IRA that someone manages. If your into stocks, IMO there's a lot more risk then RE. However, bigger risk- bigger reward. I'm conservative and like the cash-flow model.

You realize your comparing Paterson to Newark and Camden......Those are the top worst cities in N.J. I work in Parterson and there’s the section by Crooks Ave That’s descent.  That’s the only part I’d condsider.  I would not Reccomend investing in Paterson at all.  However, if that’s your niche, more power to you.  I do see a ton of multi-family buildings going up and cringe every time I see it.  Too risky for me.  In my opinion, Not a place you want to start out investing.  

@Vaughn Smith there’s some sections that are OK. Taxes are high considering the crime rate/ school systems.

@John Morgan just curious why you did t take 30 year loans, increasing cash flow

1 year for an eviction......seems like the whole story isn’t being told.  Let’s use common sense here.  Had the person follow the law and have a legit eviction, I highly doubt it takes a year. 

@Francois G. What laws/regulations in N.J. do you not agree with?

Why wouldn’t you do a 30 year loan to create more cash flow?  

@Arn Cenedella what is your cash flow?