All Forum Posts by: Dwayne Lee

@Todd Burrows Got it ! Thanks !

What's the best place/ strategy to find REO Properties to invest in ??

@Stephanie Danos You would be able to find more affordable properties in Newark with better returns. The Jersey City market is more expensive, although the Greenville section of Jersey City has much more affordable properties. I am currently on the market for a multi family as well, but I am looking down in Mercer County because of the cheaper prices.

@Nate Sanow Great question! $ amount per month is very simple and is a way I like to simplify my investments.

I brought my first two SFR cash and have been pocketing the full amount of rent for the last 2/3 yrs. I have recouped my initial investment on each and will refinance soon.

I recently just purchased a SFR using a conventional loan and I'm bringing home $665 per month after all expenses paid

Everyone has their own preferences and each market will dictate said preferences.

That said going forward , in my market, I will be looking for at least $650/month on every deal or I will pass it up and continue to look.

Be patient and when the time is right you will know

Good Luck

@Steve Vaughan Yea it definitely cost money to make money. The ROI for rental properties in this area that I invest in is usually much higher than 10%. For example my first deals ROI was 30%. So I typically don't mess with anything less than 15-20%. Appreciate your feedback

@Tyler Kaye Yea I was thinking the same way. I was looking at a 3 unit which the 40k would cover the 20% down. Appreciate your input

I’m going to refinancing one of rental properties very soon and should be able to pull out up to 40k. Looking for some ideas of what you guys would do with it and how you would invest it. Would you put Into another rental ? Use it for a flip? Or do something different with it. Looking for your thoughts and ideas

@Chris B. Seems like your doing well according to your numbers. Continued success to you! I do a lot of investing in Trenton, NJ. From what your saying it’s a very similar market to the things you spoke of.

Would love to connect and see if we could help each other in any way

I’m new to BP and am posting for the first time. I currently own 3 single family rental properties in Trenton, NJ and I’m doing pretty well with them. I purchased my first two with cash and just recently took out my first mortgage to pucrchase my 3rd property. I feel like I’m ready to really grow my portfolio and expand my business to the next level. I’m looking for different ways that I could fund my next few rental property purchases. I know about the refinance method, the conventional loans, and private lenders. I guess I’m looking for any other creative ways I can raise capital to fund my next deal? Any ideas would be appreciated Thanks