All Forum Posts by: Denise Stanford

1. HOA fees are a consideration that impacts investor's return which impacts an investor's interest.

Your "team" should consist of an Real Estate Broker, Attorney, Accountant to start....who understand investors.  I would discuss with them your overall goals and transactional strategy.  This makes their involvement on your team clear and helps to define your role as well.  Often time through team building mentoring relationships are found. 

The point of obtaining the No further Action Letter is important.  You don't want to buy into a problem that can potentially impact the marketability of the property.  It's my experience that the  NFA letter is issued by the EPA and therefore a government agency is involved. Definitely check with an attorney and also speak to the remediation company because they have the experience and know-how. 

Much success

Good that you have begun to find ARV comps. BP has a few analysis tools that are good to use. So whether you wholesale or not you should work the numbers.

Happy investing!

Hi Chris,

Welcome to BP. Nice to meet another fellow New Jersey investor. It's good to learn how to evaluate investment properties in calculating ROI and cash flow scenarios. BP offers good analysis tools to help with that.

Again welcome and happy investing!

Denise

Hi Nick,

In my opinion there are benefits to holding a real estate license which include access to inventory. Many investors have found profitable deals through working with a real estate professional and properties that are MLS listed. Additionally, being able to preview property as a licensed real estate professional can mean that you acquire a good understanding of valuation of properties through finding suitable comps.

Much success in real estate investing!!

Denise

Welcome Rob.  Happy investing!

Denise

Hi Frank,

Saw your post and I have properties that would like to potentially partner on, I'm also located in North Jersey with available properties in both NJ and NY,.  What type residential props and strategy are you looking for (SF, Muilti, Buy/Hold, Flips)?

Denise

In response to

David R.

I have used my cellphone while showing  property to people that I don't know always with my focus on the prospective buyer/tenant. However,oftentimes wanting the client to know that I'm connected and not isolated out showing this property to them without people knowing where I am and who I'm with.  Basic precautions.
 

Use wisdom in showing homes and apartments.  I tell my agents that sometimes it's best to open the door and let the client walk through while remaining outside, if you feel uneasy.  Let the client tour the basement, attic or garage themselves.   Also, in addition to basic due diligence such as 1) getting mortgage pre-approval in advance.  2).stay on your cell phone with your spouse/office during the showing.  Make sure you tell people who you're meeting and where.  We all have to work but practice safety!