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24 July 2024 | 7 replies
(and I have full time job so time is limited)Here’s a breakdown of my investment plan–I would greatly appreciate any guidance and recommendations on making this (or some version of this) happen.PropertyLocationAttributesB-level areas (A-D scale)Safe enough for my girlfriend to feel generally safe walking alone in the eveningWalkable neighborhood / close to transit (car ownership not necessary to live there)Area(s) of interest (not set in stone)Jersey City areaConditionB or C-level (A-D scale)Semi-distressed with potential for minor rehab upgrades ($35k max)DealbreakersFoundational issues / big required rehab due to FHA 203(k) max for streamlined versionSize2-4 units (higher the better)2-4br per unit preferredMax Budget (FHA loan limits)NYCSingle-Family Home: Up to $1,089,300 + 3.5%Duplex: Up to $1,394,775 + 3.5%Triplex: Up to $1,685,850 + 3.5%Quadplex: Up to $2,095,200 + 3.5%Hudson County, NJSingle-Family Home: Up to $1,149,825 + 3.5%Duplex: Up to $1,472,250 + 3.5%Triplex: Up to $1,779,525 + 3.5%Quadplex: Up to $2,211,600 + 3.5%TimelineTitle in-hand latest: Jan-Feb 2025Can potentially buy earlier if I sublet my current apartment in NYC as needed (lease expires Mar 1, 2023)Rehab: 30-45 days max of minor rehab/renoMove-in: on or before Mar 1, 2025 (hard deadline)FinancingLoan type: FHA or FHA Streamlined 203(k) for rehab <=$35kPossible conventional loan if I seek investment from family/friendsApproval statusGoal is to get pre-approved now in advance for credibilityMy statsEmployment: Full-time at large bankIncome: low-mid 6 figuresAssets: low-mid 6 figures (including 401(k))Credit score: 800DTI: 2.5% (student loan)Thank you in advance for your support.
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22 July 2024 | 4 replies
I am planning to buy a Single Family home by the end of the year and intend on "house hacking" (roommates).
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25 July 2024 | 3 replies
I just started using the BRRR method. I bought a side by side that needed a little work. I was not as familiar then with the idea of BRRing it. However, the bathrooms were outdated. Thus I will cash out refi after ...
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23 July 2024 | 2 replies
.$168.88 Simmons Premium Hybrid Memory Foam Mattress 10" - https://www.amazon.com/gp/product/B09PFJNFV4/ref=sw_img_1Could be a good mattress.
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28 July 2024 | 11 replies
Have a few projects right now - also started buying out of state rentals in Detroit.
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28 July 2024 | 4 replies
@Chris MartinAgree5-6 years ago when blockchain rage was saying all real estate will be on blockchain - still have yet to see a way blockchain is used where it has added benefitThe odds of getting counties all to buy into this and fire the clerks working at recording office for last 30 years is not gonna happen.Similar to seeing “fractionalized” real estate - which to me is no different than a public company and owning shares - you have a cap table.
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24 July 2024 | 0 replies
Normal wall assemblies require tons of different products like lumber, drywall, insulation, sheathing and siding to meet these needs.
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23 July 2024 | 1 reply
I'm buying in Brownsville soon, but want to interview quite a few people first.
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24 July 2024 | 2 replies
I think it's something like "supplemental lines" where those providers fall outside the normal providers somehow - which gives them price permissions to charge more for their product - but at least you get the insurance.
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27 July 2024 | 4 replies
But I had thoughts about buying in the pocono area to then eventually turn it into an STR, then buy a nicer more permanent Single family home that’s paid for by my rental properties.