All Forum Posts by: Anne-Marie Tustin

I am looking to purchase a single family home which has 2 bedrooms, kitchen, living area, bathroom on main floor. The upstairs has a separate entrance, then 2 bedrooms, kitchen, living area and bathroom plus a door going out to a balcony from the kitchen. Other homes on the street are multi family. I am wondering if I would need to put in a fire escape, and what other steps other than going to township would I need to consider? 

Enjoyed working with you as well! Very quick, smooth and seamless process. On to the next one!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $350,000
Cash invested: $100,000

Fully rented quadplex on quiet street in Ewing NJ near shopping, restaurants, schools and transportation.

What made you interested in investing in this type of deal?

My goal is to acquire at least 1 new multi family property each year for 10 years.

How did you find this deal and how did you negotiate it?

Found through the MLS. Was under contract with someone else and fell through.

How did you finance this deal?

Used Mofin Loans- Private Money Lender. Was quick and easy.

How did you add value to the deal?

We accepted the township violations and the home "as is." After we purchased the property the seller had given us a credit which we used to fix some plumbing issues.

What was the outcome?

Tenants pay cash on time each month so far!

Lessons learned? Challenges?

Property is under-rented. Tenants are on month-to-month lease. Need to draw up new leases and set new expectations at the start.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a real estate agent in NJ and PA