All Forum Posts by: Walmsley Gedeon

@Ahmed Saad Yes she still has a loan on the investment but she has close to a million in equity. I was hoping that could work in her favor.

Is there a way for me to co-sign perhaps?

Or how can I take the property over without involving the banks. Then I can take out a loan and I can still give her the rental income.

Do you know if that is possible without me putting money into the loan process?

Please educate me anyone?

Thanks!

My mother owns an investment property she would like to renovate here in NY but not sure if she can get the funds to do so. For context she is a recent divorcee who had to do a cash out refinance on her own home to satisfy the divorce decree. Not sure what impact that makes in this situation and her credibility in obtaining a new loan.

She owns a separate investment property that if she does some work to she can obtain the really high rent potential in this particular revitalizing Brooklyn neighborhood. The issue at had is that she now lives off her retirement and investment income. Is it possible for someone in her position to obtain a renovation loan for her investment property so she take advantage of the rent potential? Can we obtain a loan based on that concept which would ultimately be how we pay back the renovation loan?

What are the real options that can be taken here? How can I as her son help her make this happen?

I would like some real advice on how to move forward on this.

Thanks BP Community!

@David David

No it’s greatly appreciated. Thank you!

@David David

Is this the same form needed when going through eviction proceedings?

Does anyone know where I can download the New Jersey state landlord registration form online?

I'm looking for cash buyers for a 4-unit building in prime Brooklyn, NY neighborhood. I have a motivated seller and we want to make this deal asap. we have an offer on the table but seller doesn't want to deal with bank loan process. if you are interested please private message me for more information or email me at [email protected]

Thank you, 

Hi Alexandra,

I'm a new Yorker and I invest in NJ. It was the best option for me based on prices and accessibility. Are you looking to purchase out right or use a down payment? If its your first go around I wouldn't want to be to far away from my first deal. I think it would serve you better to be in the vicinity.

Surrounding states would, in my opinion, be the best option (NJ, CT, PA) to transition in your first deal. Investing out of state is absolutely feasible but should be done after getting some skin in the game.

Best of luck!

Regards,

WG

Hi I’m new landlord in NJ. I have a 4 unit in Irvington NJ in which I have a tenant approaching 3 months in arrears in rent.

How long does it typically take to evict a tenant with a child in NJ? She is supposedly disabled so please keep that in mind. What are the road blocks I can run into? How should I prepare for court?

P.S. I’ve already started the eviction process.

Please advise.

Thanks BP Family.

Walmsley Gedeon

Hey BP Family , I wanted to get some tips on what is it are the best rent payment apps for iPhone. Preferably one that’s free to make rent payments for the tenants. Something that will help me manage the rental process. Recommendations anyone?! Lay it on me! Thanks BP, WG

Hey BP Family , I wanted to get some tips on what is it are the best rent payment apps for iPhone. Preferably one that’s free to make rent payments for the tenants. Something that will help me manage the rental process. Recommendations anyone?! Lay it on me! Thanks BP, WG