NJ BRRRR (BUY REHAB RENT REFINANCE REPEAT) Team UP

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NJ BRRRR (BUY REHAB RENT REFINANCE REPEAT) Team UP

Sumeet Gangwal
Specialist · Jersey City, NJ · Member since 2019 · 20 posts · 4 votes

Hi Everyone

I am glad I got chance to know about bigger pockets forum and its outreach. I am a newbie and working full time in NYC. I am looking to team up for my Investment need, post putting hours of education and listening to podcast I have settled on BRRRR (BUY, REHAB, RENT, REFINANCE, REPEAT) stratergy which suits my need. Looking for Investment opportunities in NJ Market.

I am looking to connect with like minded people who can help me achieve financial freedom.

1. Agents : Experts in getting deals which needs REHAB, could be agent, individual, wholeseller

2. Lender : Hard Money or conventional Lenders who can provide $$ for stratergical investing

3. Contractor : Who can Time and Budget Estimate do patch up or remodel a house.

4. Home Inspector : Who can assis to be Rehab home and come with fixes and observation.

5. Propert Manager : Team or Individual who is well verse with property management, run COMPS, Check Titles, help in Renting.

6. Lenders/Banks : Lenders who can Refinance @ market rate.

Shoot me an email , PM or you can also drop message, happy to connect.

When we connect I will look for credentials, Refrences, areas you serve, and mobile #.

All who are determind to help listen to Bigger Pocket Podcast # 327 when you get chance.

I have system/process together wherein everyone is involved and knows what is expected out of everyone of us.

Big Shout out to @David Greene, Brandon Turner and Bigger Pockets Team.

Thanks in advance for connecting.

aavyarealty
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Joe P.
Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
7y

@Sumeet Gangwal, hi, welcome! Glad to see you getting moving. What do you bring to the aforementioned team you're looking to fill?

2Reply
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  • Joe P.
    Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
    7y

    @Sumeet Gangwal, hi, welcome! Glad to see you getting moving. What do you bring to the aforementioned team you're looking to fill?

    2Reply
  • George W.
    Investor · NJ · Member since 2018 · 869 posts · 921 votes
    7y
    Originally posted by @Sumeet Gangwal:

    Hi Everyone

    I am glad I got chance to know about bigger pockets forum and its outreach. I am a newbie and working full time in NYC. I am looking to team up for my Investment need, post putting hours of education and listening to podcast I have settled on BRRRR (BUY, REHAB, RENT, REFINANCE, REPEAT) stratergy which suits my need. Looking for Investment opportunities in NJ Market.

    I am looking to connect with like minded people who can help me achieve financial freedom.

    1. Agents : Experts in getting deals which needs REHAB, could be agent, individual, wholeseller

    2. Lender : Hard Money or conventional Lenders who can provide $$ for stratergical investing

    3. Contractor : Who can Time and Budget Estimate do patch up or remodel a house.

    4. Home Inspector : Who can assis to be Rehab home and come with fixes and observation.

    5. Propert Manager : Team or Individual who is well verse with property management, run COMPS, Check Titles, help in Renting.

    6. Lenders/Banks : Lenders who can Refinance @ market rate.

    Shoot me an email , PM or you can also drop message, happy to connect.

    When we connect I will look for credentials, Refrences, areas you serve, and mobile #.

    All who are determind to help listen to Bigger Pocket Podcast # 327 when you get chance.

    I have system/process together wherein everyone is involved and knows what is expected out of everyone of us.

    Big Shout out to @David Greene, Brandon Turner and Bigger Pockets Team.

    Thanks in advance for connecting.

    aavyarealty

     Hey let's connect and talk more definitely interested 

    0Reply
  • Yavuz Bayram
    Realtor · Rutherford, NJ · Member since 2016 · 51 posts · 46 votes
    7y

    Welcome and good luck with building out your team. With some networking and patience i think you will be on the right path since you already have set your goal and strategy and access to lot of the resources of our BP community. All thats left is going out onto the field and converting it into practicality! 

    0Reply
  • Sumeet Gangwal
    OP
    Specialist · Jersey City, NJ · Member since 2019 · 20 posts · 4 votes
    7y

    Hi @Joe P.

    Great Q (Point Blanc :) Thanks for quick response I bring a Funds $, Risk management, process and coordination to the team.

    Thanks

    Sumeet

    1Reply
  • Sumeet Gangwal
    OP
    Specialist · Jersey City, NJ · Member since 2019 · 20 posts · 4 votes
    7y

    Hi @George W.

    Sure Open to connect, Thanks for response check your PM .

    @Yavuz Bayram thank you so much for motivation hope to see you on fields soon :) 

    0Reply
  • Johnathan Boyle
    Real Estate Agent · Belleville, NJ · Member since 2015 · 408 posts · 94 votes
    7y

    @Sumeet Gangwal Welcome to biggerpockets. If no one has mentioned already, some lenders to look to that are local are Arkad funding, Alpha, and Rescap just to name a few that I've used. As far as contractors and inspectors, there are several on the forums you can reach out to. . As far as lenders, I have used Columbia Bank for a refi at 70% ARV.

    2Reply
  • Sumeet Gangwal
    OP
    Specialist · Jersey City, NJ · Member since 2019 · 20 posts · 4 votes
    7y

    Hi @Johnathan Boyle Thanks for your guidance will talk to mentioned Lenders soon and also look for Contractor and Home Inspector on BP.  # Calling refrences for Contractor and Home Inspector if you can recommend will like to consider them first.

    Any Idea on how to approach for Bank do I say before hand that I am looking for RE-Finance or approach bank as Conventional Finance if later what are steps needed ? Like do I need to buy as seprate entity as an LLC (Before Rehab purchase) and then ask for finance, any pointers on process, pros, cons ? Bottom Line looking for maximum value closer to 80 % on ARV.

    0Reply
  • Johnathan Boyle
    Real Estate Agent · Belleville, NJ · Member since 2015 · 408 posts · 94 votes
    7y

    @Sumeet Gangwal around here you probably won’t get around 80%. Highest I’ve seen but haven’t used is around 75% and those are bigger lender that usually give a high interest rate of around 6-8%. And how a refi for the brrrr works is you buy with an entity with a hml or your own cash, rehab, rent, and then refi in that same entity. Hope that helps 

    0Reply
  • Pearly Tan
    Rental Property Investor · NJ · Member since 2018 · 70 posts · 26 votes
    7y

    When you talk to lenders, let them know your goals and then pre-qualification would take place. Be sure your credit is good and all your income/asset documentation is ready.

    0Reply
  • Sumeet Gangwal
    OP
    Specialist · Jersey City, NJ · Member since 2019 · 20 posts · 4 votes
    7y

    Thank you Great Tip @Pearly Tan ..

    0Reply
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