Hello, I'm closing on my first rooming house this coming week in NJ.

They used to talk about the 2% rule, which was basically a ruse to get you to buy in the absolutely worst part of town where you got 2% on paper and only on paper.

Purchase price: $532,500 Cash invested: $106,500 I just bought a duplex on 3rd Ave on the Columbus side of Grandview and am planning on living in one side and renting out the other.  

@Andrew NovitskyNever heard of themWhat turned me off is on their site they have education and merchandiseHow many funds have the launched?

Any recommendations on lawyers to talk to that can assist in advising on an LLC fund (if needed) and how? 

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

You will always get more if you put it on the MLS. 

If the LLC is a single member, it is filed on your personal tax return.

Boots on the ground is critical.

Hi Bobby, can you expand on your question a little bit, what do you mean by where to start?