All Forum Posts by: Adam Anderson

welcome Matt!  Despite what many say, Theres definitely opportunity in NJ. The key is buying correctly. Feel free to reach out 

Thank you all for your recommendations, I’ll reach out to them

I have been working with just about every type of permanent life insurance for the last 12 years. I’d agree with most of what was already stated here. You should not look at whole Life as an Investment, it is not one. Variable Universal Life does however have an Investment component where the cash value is invested in sub accounts similar to mutual funds. The cash value can go up or down and you can loose $. Indexed Universal has become more popular since it tracks the market or index with a upside cap and as well as a floor of 0, so you can’t loose money on the cash value performance and you still have a decent upside potential. I think of it as combining the best features of Whole Life and Variable Life

We have a new Real Estate Fund and need a reputable custodian that can help our investors convert their IRAs to self directed IRAs so they can invest these assets in our fund. Can anyone recommend one?

@Casey Gocel, you definitely can't rush it! I know how you feel here in North NJ. What I personally found was that the only way to get a good yield on a rental property here is to buy a distressed property or foreclosure at a discount then fix it. I found that in most of Morris and Sussex county you can get a double digit return if you can keep your aqusition and rehab costs at or under 70%-75% of the Value, which is also a LTV that most banks want. If you aren't into the rehab side of investing, have you considered finding a Partner that is?

What other areas besides the shore are you looking at?

Adam

Does anyone have experience in Washington Township, Washington Boro in warren county NJ? I have been mostly investing in Morris and Sussex county and was looking at new areas. Washington seems to have more attractive prices, lowers taxes and very similar rents.

Hi, This is around the corner from me, it's defiantly not an A neighborhood, I'd say most of the town is B- but some is C, just like any other town, some parts are better than others. Where are you looking? Did you have a property in mind?

Sounds like a decent candidate, I personally don't use the credit score as the deciding factor in qualifying a tenant, but it is an important piece to the bigger picture.  If everything else checks out, references, employment, income all verified and the reason for a low score if justifiable, Id rent to him. Most of my tenants have low or poor credit, that's why they are renting.  This also creates a situation where they will likely be renting for a few years.

But....whats the story with the other 49 applicants? ? 

Sounds good!

Welcome! I'm not to far away from you and flip and hold value add rentals in Sussex and Morris Counties. I'd be happy to help if I can Adam