All Forum Posts by: Chris Allen

Chris Allen has started 2 posts and replied 23 times.

How about the type of loan you get with the llc? For personal I can just get a conventional mortgage, but where do I go to get a loan for the llc? Thanks!

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I would contact the municipality and they will tell you who is responsible for branches that extend over property lines.

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Originally posted by @Stephanie Hardy:

Oh ok. Well, l new to RE investing myself. We are in contract with our first rental property! However, I've been on BP for some time now and have read a lot of advice and have listened to many podcasts. From what I've learned, it is mentioned often about using equity in existing properties for down payments on more properties. @Brandon Turner has his BRRRR (Buy, Rehab, Refinance, Rent, Repeat) strategy that he promotes a lot. Not sure how an architect career might be able to help you in real estate - does it help with construction knowledge at all? If you were able to buy low, rehab it, then refinance it at a higher appraisal value, you could take the equity gained from there and do it over and over again, theoretically. Maybe someone else is able to offer any other ideas. Best of luck, though!

Of course being an architect helps with construction knowledge, we are the ones that design the buildings!

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It seems most rehabbers abound getting into larger construction projects and add square footage, but this seems like it's usually the best bang for the buck. The average per sf sale cost in my area can be easily 2x the per sf construction. With these numbers there are many homes that I see where one could pay retail and still make large profits adding square footage, making the number of available deals much larger than for those seeking only cosmetic upgrades. How does the average per square foot construction cost compare to the average per square foot sale cost in your area? I can build for $100/ SF and sell for $250/ SF...

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Of course it can be done! Just like any other state, there are a lot of rental properties in NJ, and somebody owns them, right?

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PM me!

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I'm really not sure how leaving the exterior walls would affect the interior layout. You'll just have to move some windows and will be cheaper than starting from scratch.

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Welcome! I'm in Morristown and looking along the same lines.

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Welcome Chris and Majour! I'm new to BP also, and I live in Morristown. It is a very desirable market, and I hope to invest in my first property there this year. I see many towns in NJ that are in transition where there are great opportunities.

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Consistency is key

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All Forum Posts by: Chris Allen

Chris Allen has started 2 posts and replied 23 times.

Post: LLC for flipping

Post: Neighbors won't cut trees and its extending over my yard

Post: How to utilize equity from rental?

Post: Is adding square footage a no-brainer???

Post: Buy & hold investing in NJ impossible? Anyone from NJ investing outside of the state?

Post: Northern NJ Architect

Post: Our first "Pop Top"

Post: New Member from Morris County, New Jersey

Post: Newbie from Northern, NJ (Parsippany)

Post: You Pick! Existing White or New Stainless Steel?