All Forum Posts by: Anthony Uva

I spoke with a Realtor here in NJ recently that told me had had deals closed with no doc Mortgage. I just cannot find his contact info....

Hello 

I've heard that low doc and no doc loans are making a come back. Is anyone using the new version of these type loans? Can anyone recommend a reliable lender that will do these loans at a reasonable interest rate in New Jersey? 

Borrower with excellent credit and can put down substantial down payment (25%). 

I would would prefer interest only but would also consider a fixed rate 15 or 30 yr, 5 ARM, or 7 ARM.

Thanks in advance!

Welcome to BP Karolis. Sounds like you have a good grasp of tax knowledge regarding REI. That's a great head start!

It looks like you have a good background with skills that will transfer well to RE investing. Have you decided or done research into what kind of real estate portfolio you'd like to build; SFH, small multis, commercial/mixed use or apartments?

Welcome to BP John. 

Your Insurance and Property managements numbers look low to me.

Welcome to BiggerPockets!

You need to know how much it will cost to fix first. 

As with most area of North Jersey, transportation to NYC is key. JS has direct trains to midtown and the financial district making it a good bet. The area is already on it's way up. There is some big dollar projects going into Journal Square area.  

Be careful if your looking at deed restricted ( adult ) communities as it can limit your exit strategies. I know that at least some of these communities in NJ do not allow you to rent the property.