Newbie with 3plex looking to network NY NJ for new buying options

Rental Property Investor · Newark, NJ · Member since 2023 · 57 posts · 23 votes

Trying to link with investor experts who can explain new or existing strategies for buying and repeating . I have a 3 unit family in Newark NJ and want to buy more units. Hope all have a blessed day

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Zachary Ware
Member since 2022 · 405 posts · 455 votes
3y
Hey Trevor,
If you can provide more details you will get better answers here. What are you looking for or what are you having trouble with? Is it a matter of not having enough liquidity or running into DTI issues? There are a lot of strategies and you might want to narrow them down to play on your own strengths and weaknesses.
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Trevor Neale
OP
Rental Property Investor · Newark, NJ · Member since 2023 · 57 posts · 23 votes
3y
@Zachary Ware blessings to you. Thanks for reaching out. Just want to know what options I have without putting 20-25% down. Are there other methods or strategies? Current unit is FHA.
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Shawn McenteerBusiness Member
Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
3y
Hi @Trevor Neale 5% down conventional mortgage is my go to multi unit properties, you for sure do not need to put 20-25% down even if you own the existing triplex. Best part is there is no PMI with this loan, its sort of like the unicorn of loans for New Jersey. Happy to connect and map out strategies for not just getting to property number 2 but how you can get to even more properties. Next step is crucial!
973-975-3895
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Trevor Neale
OP
Rental Property Investor · Newark, NJ · Member since 2023 · 57 posts · 23 votes
3y
@Shawn Mcenteer this made me excited !! Let's go
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