All Forum Posts by: Alejandro Tirso

I'm looking to have a duplex inspected in Trenton, NJ.  Any recommendations on quality inspectors?  

I'm shopping my first property and have financing in a row, current owner gave me rental rates and fixed monthly expenses, I've found a property manager, but I'm a little confused about insurance.

It's a 3-family home with a studio, 1-bedroom, and 2-bedroom apartments.  I may live in one unit, but there's a higher probability I will not.  I am having trouble finding insurance quotes for a 3-fam that is not owner-occupied. Because I'm doing FHA, 5% down this deal is appealing from a COC-ROI standpoint, but cash-flow is weak (Not Brandon Turner's recommended >$100/unit metric) given lower rents in this neighborhood, so insurance costs could turn this deal sour quickly. Only clearing ~$250 cash-flow total for all units @ 7% vacancy, 10% R&M, 10% CapEx, & 8% Property Mgr. Thoughts on deal?

Anybody have any recommendations?  Any insurance partners in the area?

Thank you

Hello all,

I’ve found a property that’s in pre-foreclosure in NJ. I’m wondering how financing on these works.

Could I get a conventional mortgage if the house is in livable condition? What do I need to get from the current owner who is to-be kicked out? Just an agreement of sale at a certain price point?

It’s a pre-foreclosure @ $170k, but after reading Long Distance Real Estate Investing by D. Greene, he speaks of offering the owner a little extra above the outstanding loan amount.

Any and all insight is very helpful.

@Tahra Wright thank you! Looking to BRRR so rehab and rent out, not flip.

Hello,

I'm looking for property managers in Central/Southern NJ. I know that's a wide area, but say Middlesex/Union County down to Camden. Looking to get started with my first property. Went househunting in Trenton last weekend, got a little spooked by how rough the neighborhoods actually are and poor conditions the homes are in. Would you recommend staying away from these so-called "war zones"? Here a lot on the podcast about not getting trapped by the 1-2% rule.

Seeking a light rehab for my first project in Central NJ. Any insight is appreciated!

Hello,

I'm looking for property managers in Central/Southern NJ.  I know that's a wide area, but say Middlesex/Union County down to Camden.  Looking to get started with my first property.  Went househunting in Trenton last weekend, got a little spooked by how rough the neighborhoods actually are and poor conditions the homes are in.  Would you recommend staying away from these so-called "war zones"?  Here a lot on the podcast about not getting trapped by the 1-2% rule.  

Seeking a light rehab for my first project in Central NJ.  Any insight is appreciated!

How did this play out?  

Any hits on this?

@Mel Cosio any hits on this?  Looking to begin in same area...