All Forum Posts by: Angeline Mentor

Wow! I love Bigger Pockets. You guys are tremendous. Someone is always "Paying it Forward"  Thanks for the feedback and responses. 

Hi all,

I am interviewing tenants and would like to do a background check on them. Can you provide what service you are using for this. Also, if anyone has a great landlord/tenant lease for the state of NJ. Please share. 

Thank you in advance for your assistance. 

Hi all, I am purchasing two condo units in the same building. I find the fee to be a bit high. However, I was asking myself, Do I really need to do an inspection. All of the mechanicals are covered under the HOA fee. What are your thoughts? Money well spent or a waste of time and money.

Wow!! That was enlightening. Thank you Patti. 

Hello All, 

I am a new landlord. I will be screening tenants in a C-Class neighborhood. Please share any pertinent questions or software I should utilize to find the "best" tenants for this area in New Jersey. 

What are some pitfalls to look out for? I know there are tenants that are professionals and want to avoid those types. 

Thanks for the feedback in advance

Hi All, 

I just purchased a 2 family in a C class neighborhood in NJ. I am going to apply for section 8. Would like your feedback on what to look out for. Is there anything important that I should not miss when either applying or accepting a section 8 tenant. 

Thanks in advance for the feedback.

Thanks Alex, I will message you separately. I have a couple more questions. 

The property need minor rehab about 20k of work. After this, I wanted to refi and get my

Money back.

I need advice.  I may have shot myself in the foot.  I recently took out a personal loan of 100K  (unsecured) to fund my real estate investments.  Well, I now have down payment, closing and gap funds.  You would think this is great news. 

I just recently signed a contract for a two-family house in NJ. I spoke to two lenders about the property and provided general information. They said it sounds like a good deal. They will need me to be a personal guarantor. My heart nearly stopped. I thought I could buy my investment properties under my LLC and a credit check would not be necessary. The loan would be based on the asset.

Well, now I am not sure what to do. My DTI is of course, over whatever they require due to the personal loan and my other bills.

I am also concerned with the refi out, If I get a hard money lender, How do I refi out of the loan. My goal was to do the BRRRR strategy with this property.

I appreciate any feedback you may have. 

Hi All,

I hope this is the correct forum for my question. I was approached by someone regarding building business lines of credit. So, I am trying to vet out this opportunity. Here are my questions. 

1. Is it common for individuals to buy a shelf company or an established company?
2. Once this company is acquired, since it has been around for several years, I can then purchase the company to apply for lines of credit
3. The company that does this is asking for quite a bit of money. But, they are saying they will help my new company get lines of credit and establish a Dunn and Brad number.

Please advise. 

Thanks for the time in answering this question.