Not a Guaranteed SuccessA coaching program is not a magic pill.

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

That in addition to my other arguments got me a 20+% reduction in assessed value!

Without having a credit score you can expect to have a 10% reduction on the LTV or loan amount towards a purchase or refinance.

Here's the bigger lesson I learned: If a tenant asks for special considerations, or reduction of fees - those are ALWAYS the ones who are the problem tenants.  

Prioritize stable cash flow, good location, and manageable property condition, while considering strategies like gradual rent increases, expense reduction, and value-add improvements to enhance returns.

There is tax reduction and appreciation to consider as well. 

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

You should see more deals and price reductions as we roll over into 2025 as well.If you need any help or have specific questions feel free to reach out or send me an email.