All Forum Posts by: Adam Anderson

 These are good options to consider if he is considered and Accredited Investor.  They will do all the underwriting and servicing and you can simply invest.  You can also diversify by investing in multiple deals, I believe the minimum is only $5k per deal.

Adam

I think once you fully screen them, credit check, employment verification, background, references, ect a leader will become more clear to you.  If you end up taking the dog make sure to collect a pet fee or additional deposit.

If your take the group of roommates have them all sign the lease and make them individually & collectiy responsible for the terms of your lease. This will help ensure rent is paid if there is a falling out with any of the roommates.

those numbers might simply be unrealistic in your area on a single family home, it is where I live!  It might however be more doable on a small multi family.  Have you considered a duplex, triplex or 4 plex?

Also, your returns can be significantly enhanced if you buy a distressed property at a discount and fix it up then refi..... AKA the brrrr method 

Sounds like a significant safety issue!  Have you made your requests In writing? If not you should so its documented. What does your lease say about who is responsible for these issues? Be sure to reference the specific sections of the lease in your letter.  Contacting the building department and maybe local fire official will probably get your landlords attention.  Where I am in NJ smoke detectors as well as CO detectors is a very big deal and must be provided by the owner.

The 4 Plex is netting $225/door after vacancy, repairs, cap ex, management fees, debt service and taxes.  I expect the Duplex to be a little bit less but the rents have not yet been realized so time will tell.

The BP Member is @Jerry Padilla from MB Financial Bank and it was conventional financing.  He was great to work with and I'm actually working with him on another property now.

I met the individual in the forums as they were posting questions as they were acquiring and rehabbing the property and we struck a relationship.  all my properties so far have been with conventional financing, but im under contract on a flip I may keep with a hard money lender

I'm purchasing my fist REO in NJ to renovate, not sure yet if I will flip it or rent and hold it. The numbers work well both ways. My regular insurance broker who has my other rentals and business policy cannot write an insurance policy on a vacant property.

Anyone know how to get this done in NJ?

Adam

My academic background is in both Real Estate and Finance.  I work as a CFP  and love what I do.  I don't think Id ever quit financial planning to do real estate full time, however real estate can defiantly be more exciting!

 Thanks Abena! I am a CFP, do you currently work in the financial planning industry?