All Forum Posts by: David Gunkel

Welcome! Any question you have, someone on BP has the answer!

Hello Everyone,

I'm looking for a Real Estate Agent and Contractor that are in the Gloucester/Camden county area that are well versed in 203k loans and multi family properties.

I am also interested in connecting with local Wholesalers. In and around Washington twp will be my main focus.

Welcome to BP! I love this site. Key word alerts are a gold mine! I'm in a similar position myself. I'm hoping to pick up my first REI in the next several months as well. I'm in the south Jersey area though. I wish you luck in your search. I'll pm you if I come across any new investor pitfalls during my purchase that I think you might benefit from.

Welcome to BP! I know you're looking to increase your buyers list so add me if you'd like. I'm interested in 3-4 unit properties in South Jersey that need a little work. Hit me up if something like that ever crosses your path.

You might want to include a 10% property management expense too. I'm sure you plan on managing it yourself right now but some time during the next 10-20 years you may feel the need to get a property manager. Hopefully because you've found yourself with more properties than you can handle alone. Regardless, it's something I've been seeing often enough on BP that I thought you might be interested in considering.

@James Masotti The towns I mentioned are just where I'll be driving through over the next week or two. The area I'm willing to invest is much greater. I expect a Wholesaler/Realtor will present me with a viable opportunity well before I find one myself but it's not going to stop me from looking. I like the Glassboro, Clayton, and Williamstown suggestion. I was going to check out the neighborhoods closest to where I live now and make my way to Washington Twp but I should be doing it the other way around. Thanks for the info and suggestions!

@Mathew Gunkel Thanks. I absolutely agree but I'm still going to continue to hit the streets myself. It's been helpful in identifying neighborhoods I like and I'm finding properties that I may one day want to target. I also enjoy driving around unfamiliar areas and checking out the homes/landscaping.

@Thomas Franklin Thanks again. That's all good advice. I will definitely use that approach too.

@Tabitha Fox Welcome to BP! It's really exciting to have a place that has so many experts, novices and everything in between who are willing to help with your REI dreams!

@Thomas Franklin Your posts are fantastic! Very informative and precise! I have a question about moving a 203k property into an LLC. Would it make sense to refinance into a conventional FHA 20% loan to close it under an LLC? Assuming that the ARV would leave you with at least 20% equity.

I would love to hear from anyone who knows the area well. Let me know if there are any of those areas I should just avoid all together or focus on. I'll be looking into and driving around Collingswood, Audubon and Haddon Heights over the next few week if anyone has any suggestions?