All Forum Posts by: Carlos Albarracin

@Michael Carman Hey Michael! You can try googling “NJ PROPERTY OWNER” the website is njpropertyrecords.com, and with this website you’ll be able to look up the address and it’ll give you the owner name/address on file. You can simply send out a letter to them or door knock and ask them if they’d be interested in selling their property.

Best of luck!

@Scott Wolf @Blake Dailey awesome ideas guys 🔥 I’ve never heard of that SBA in particular. I’ll definitely being looking into it more! Appreciate the advice fellas🙌🏼

@Rene Owczarski awesome ideas Rene🙌🏼🔥 that two note finance has me intrigued, I’m going to explore that a little more! I’m going to put together an amortization table to get a better picture! If you have any more tools or resources to recommend I’d be glad to hear them. Appreciate the help!

Hey All! Right now we are in the process of looking to buy a property to relocate our existing small auto business (from Newark to Elizabeth). We found a great property which is 3 blocks away from a major highway, close to industrial businesses/shopping center and minutes away from downtown area. Current list price is $475K , taxes at $10,000, approx 6,000 Sq. Ft. Want to know what other ways besides traditional financing could be done to acquire this property? We currently own a Single Family Home and a Multi Family unit and would leverage these if we could. Would like to hear all ideas and inputs! Greatly appreciate it!

@Miguel Bautista hey Miguel! Welcome to BP! The one question I do have is regarding the move from AZ, what are you looking to do in NJ besides real estate? There are a few options to consider, right now North Jersey (Jersey City, Hoboken, Elizabeth) are hot areas and this is where property prices and taxes are one of the highest. If you’re definitely relocating here I would consider doing some due diligence in the more Southern parts of Jersey- Rahway, Avenel, Woodbridge etc.(Get to know the areas, the businesses, neighborhoods). These are about 40 minutes from the city and are upcoming areas. I would be glad to help you take a look at any properties or answer any additional questions.

Best of Luck!

@Andy Tavarez Hey Andy! Welcome to BP! So just to confirm the house is listing for 275K and estimated rehab is 90K plus another 45K for closings costs, total expense is 135k. With the ARV being 460k (to be conservative) this puts a profit at about 55K. Which is not bad for a flip, only advice I could give is to keep the rehab simple- don't try to change the whole interior structure- people just want something that looks pretty and good quality- keep it simple. Painting, redoing lawn, light remodel of bathroom, use the same hardwood floors if possible etc.

Then go over the numbers if you were to rent out the property, just as a Plan B in case that the property for some reason can’t be sold right away, at least you’ll have an idea on how much you can get in terms of monthly income. Look forward to seeing how this turns out for you!

Best of Luck!

Hey Gerard,

If you are still looking for a property manager in the Newark area, I'll be more than happy to connect you with someone. Send me a message.

Thank You

Hey Davney! I would have to agree with some of the others on the thread, try to do a refi/take equity out from the home to invest down South, or you can sell the property completely and look into doing 1031 Exchange to minimize the tax. Considering that its close to the city and vacancy is at a low, you can get your monies worth if you do decide to sell if not this wouldn't hurt as a long term hold!

Best of Luck! 

Hey Toby! Congrats on your friend's new move! There are definitely a few questions to clear up to get your friend into the right home for him. First, will he be a cash buyer or financing? Has he thought about what neighborhood - Trenton, Seaside, Hoboken, etc? Will he be willing to fix up a house or want to buy something that is renovated? I would like to learn more if possible, just send me a message if you have any additional questions. 

@Zaire Napier

BOOKS TO READ

THINK AND GROW RICH by Napoleon Hill

MULTI FAMILY MILLIONS by David Lindahl

REAL LEADERS DONT DO POWERPOINT by Christopher Watt

THE SCIENCE OF GETTING RICH by wade Los

DELIVERY AND HAPPINESS by Zappos

10x RULE by Grant Cardone

Rich Dad Poor Dad by Rob Kyosawki

As well as podcasts, YouTube videos, seminars, online courses.

Analyze properties and start making offers!

Best of luck

Carlos A