All Forum Posts by: Cody Jensen

Have you ever had or have properties that are located on the coasts in shore towns? Specifically where the property is blocks from the ocean?

I see some of the FEMA maps say that the whole city is a "flood zone" yet a ton of people still hold on to these properties and claim they are good investments.

How do you manage? Is there money to be made? I feel the second a huge storm hits, your insurance company will be your best friend and you will be out for a long time.

How do you manage owning a rental property in shore towns, dealing with water and freak actions of mother nature.

Thanks,

Cody

Hi everyone,

I've been actively looking for my first investment for quite some time now. I'm to the point where the pricing for what the properties here in New Jersey are worth aren't at all in my opinion worth investing in. 

For example, You pay $400,000 for a duplex in a moderate to high crime neighborhood with taxes at $12k per year..... This justifies nearly 70% of the property in NJ for sale currently. Not to mention the houses are falling apart.

Is anyone in the same boat as me? If you have been and found a solution, what did you do? 

Thanks,

CJ

This property is in PA believe it or not. Here in NJ we average $12k a year unfortunately, thoguh $7k in PA seemed steep.

yes, is that too high ? It seemed steep from the start. They have school taxes and property taxes. Most of school  tax $5000. Do you think i can get a tax deduction going to the town? 

Hey guys,

I've been working really hard to find a property that is worth  buying. 

I need you your help assuring me if this is a good or bad deal.

Asking price is right under $200k

Here is the number. Please tell me what you think.

$180k 

45,000 down

135,000 /30 years @5% ($725/month)

Taxes : 7700/yr ($642/month)

Insurance: $1,000 yr (est)

Public Sewer: Unknown at this time

Gross income fully rented $30,240

Breakdown: 

Unit 1: $750

Unit 2: $770

Unit 3: $1000

Current landlord says some utilities are included in current rents. (Gas, water and trash included).

I didnt take out for maintence or vacancy. 

Fully rented i will be looking at over $10k a year. Is that a good thing? 

It looks like a good starter but im just really confused.

What is your opinion? Am i in the RED? 

Thank you all

CJ

Hey guys,

I would like to know how you are collecting rents and managing your parks? Do you provide free wifi and have the tenants pay over a online website? through software? or good old check? 

Also, how do you manage the property IF you are located out of state? Property management? Or do you self manage? 

Is this something really difficult to do while living a great distance away?

Looking forward to your help!

Thanks,

Cody

Hey guys,

I currently have found a decent deal in my opinion in which I'm looking at a 13.5% CAP rate. All in all the property mainly would need some paint and new laminate floors in coming months. It is a duplex that is fully rented and rents are decent.

My concern is the area the property is in. The crime heat map on realtor.com is red, and i know if the area being somewhat high with crime. You can see vandalism in street view of other properties in the area etc. I will NOT be occupying the property, i just don't want to be getting calls from tenants.

Should I just focus on the numbers? or should I find another deal? 

Thanks

Hey everyone,

I came across a deal that i can fully afford out right and all i have to do is write a check. 

I feel as though going into a 15 or 30 year fixed just will cost me more in the long run. 

Would i be wise to consider paying this property out right? what would be a good option for me to expand after this property  with my money i have in it. 

What are your thoughts? 

Hey Guys,

Is buying a investment property in a flood zone a bad idea?

Do you currently own a property in a flood zone ? If so, how much are you paying for flood insurance? 

Looking to find out which states are Tenant friendly and which are NOT.. Is there a simple way to find this out ? 

Thanks