All Forum Posts by: Sunny Burns

 I used them for two mortgages on a 4-fam and 3-fam, they wouldnt qualify me for a third. Never needed a co-signer so dont know the details. I have heard they do lend to most of North New Jersey at this point though.

I just created a rental listing yesterday for my property in North Arlington, Bergen County, NJ.

Within 5-minutes of posting it on Zillow, I had calls from 2-eligible prospective tenants who both watched the video tour and really want the property.

Its been 13 hours now, and I have probably 30 leads who have reached out...

I've never had this overwhelming response... is it really just the influx on NYC residents into NNJ?

I decided not to post to Facebook Marketplace because I can't even imagine the amount of messages...

I feel like I priced the rental on the higher range at $1700/month, but maybe I should just increase it... so my phone stops ringing...

Anyone else experiencing this?

Hey Umer I am fortunate that all my tenants have been paying rent... but like you say if they stop... I don’t know what tools I have left to use. 

@Darren Sager what could we ask for from our tenants to prove whether they can or can’t our rent? Bank statements showing loss of income?  Let me know you strategy, thanks!

Conventional 

Trustco Bank only for Bergen County NJ. You can put 5% down on an owner occupied 4-family with no PMI.

Also Roselle Bank, services most of NJ, similar terms, although they don't do preapprovals.

Anyone know any other banks?

That speaker seems really cool! I’m there!

Lived at home for the first 2- years of our marriage, packed our own lunches to work, and other frugal stuff, and saved about $75k. 

Then used a small local portfolio lender to do conventional financing and put 10% down with no PMI.

Second property we used a HeLOC on the first property and put 15% down, same bank. 

Don't forget to mark you calendars - see you all tomorrow!

Awesome, glad to have some first timers coming out. I think there will be good value for everyone no matter what level you’re at. 

Yes we host the meetup together his name is @Marcin Ferenc