All Forum Posts by: Brian Allen

We went through this with my Mother 2 years ago.  They make their patients sell their house (liquidate their assets) which are then put into an Escrow account to basically pay for their care until the $ either runs out or diminishes to a certain amount.  Yes, it still has to sell for Fair Market Value, which unfortunately has sky rocketed due to the lack of inventory. Our Attorney said that there are red flags that pop up on each patient, so it's a slippery slope when working with the family, estate, and family members (both near and far).

Congrats! I have a few Buyers looking, but here in Monmouth County though. Happy 2024!

hi @Brandon Lor - I'm about 15 minutes from Asbury Park here in Rumson, but the market is still insane.  You can expect to overpay for teardowns here, unfortunately, but on the other hand I've done a handful of fix & flips in the surrounding towns over the past few years.  Let's grab a coffee or feel free to reach out about investment opportunities - Happy Labor Day!  -Brian

hi @Brian Caulfield I've done 4 SFH Fix & Flips in the past 5 years here in NJ - each one presents its own challenges, but I do have partners you could leverage along the way. Let's sync up - the market is still hot for Sellers at the moment, especially here towards the Shore. Happy Labor Day!

I live in Red Bank and my office is 7 minutes away.  Still got your eye on the property?  The market is very different in certain neighborhoods within the same zip.  Thanks!

Hi - what part of Trenton?  :-)  I'm located in Monmouth County but have shown a few out there.

welcome to BP Connor!  Analyze deals, see how long homes are on the market for in certain areas and which ones sit, also follow Brandon's podcasts and take advantage of all the free stuff on this website - they come in handy!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $315,000
Cash invested: $75,000
Sale price: $492,500

This Waterfront Colonial needed work. Luckily, the homeowner contacted us directly through our marketing efforts, and we were able to directly inject capital into this 4 bedroom, 3 bathroom colonial, which looked like it did when it was built in 1985! It is situated on a canal leading to the Barnegat Bay, which is a boaters dream!

What made you interested in investing in this type of deal?

Waterfront - unique property which had deferred maintenance and an older homeowner who had been there for a long time.

How did you find this deal and how did you negotiate it?

Homeowner contacted us directly through our marketing efforts

How did you finance this deal?

Finance purchase, cash injection/value-add

How did you add value to the deal?

Gutted the house, replaced floor joists, installed new AC units, new sheetrock, new kitchen, updated bathroom vanities, carpet, and utilities.

What was the outcome?

We didn't even touch the landscape/exterior LOL

Lessons learned? Challenges?

Waterfront properties can be tough! Some of the neighbors are seasonal/summer bums, so they were a big part of the Buyers decision to purchase - in both a good way and bad.

Try New School of Real Estate in Holmdel, or there is one in Red Bank I attend for my C.E., but I forget the name of it off-hand

I believe that you get your check from the Gov't entity on the first and you have the tenant then pay the difference - almost like income-based rent.