All Forum Posts by: Chris Masons

@Richard L. still no go....

please email me  uforia2@aol

thx,

Chris

@Richard L.  Hi Richard, I tried responding to your PM but the system said I could not because I Was not a colleague. I think you have to accept me so we can chat via PM. Or change your settings to accept all PMs

thx,

Chris

Hi Farrukh! Funny, that deal got cashed out this past July. By buyer finally was able to get his own conventional financing and my loan has been paid in full. All in all was a smooth transaction. I did well as so did he has the market has appreciated since we did the CFD. As a buyer just make sure you can read over the contract before committing to anything!! Good luck! Chris

I Am trying to buy one owned by MTGLQ INVESTORS, LP as well here in NJ and it looks like it is going directly to Sheriff sale before even hitting the public market...

oh well.... Will have to attend the Sheriff sale and see how it goes

Chris

Will, what exactly did they say when they called you? "Hi Will, we woke up today and the floor is sagging"

I'm not buying it. 20 to 30 kids there which probably meant 40+ all jumping around could definitely cause the beam to buckle/crack

Good luck as I am sure the parents will push bacak

regards,

Chris

congrats Henri!!

sounds like you did great on all fronts!!

Was curious of your type of tenants here and length of their leases??

I am a residential multi in single-family investor I would love to explore this space here in New Jersey.

One question, in the end how much money out of your pocket do you have in this deal?

Thx

Chris

Why not just pass this expense onto the tenant like as if it was gas? tenant can regulate their own heat, therefore controlling the costs to a degree...

Sure oil heat may be a bit more expensive but definitely not a deal breaker - not like it will be double what gas is...

regards,

Chris

@Jim Bryant As much as you are concerned about tenant rights think of the lease as protecting YOU and what is allowed and not allowed...

thx,

Chris

@Account Closed

For any long term investor this is a blip in the grand scheme of things... Those who DCA - dollar cost average (and most do into their 401k mutual funds) won't get clobbered as they have been averaging in and over time this will smooth out all the volatility.

Most people nearing retirement should be gradually shifting out of equities into something more of a fixed income flavor.

Listen, I prefer RE over the stock market, however I have constructed over many years a fantastic stock portfolio of great companies that throws off income (dividends and distributions that grow annually) on a monthly, and quarterly basis that I will utilize to supplement my passive income in retirement...

Days like yesterday (and today) are more like buy days, as if you look around you can find great value in these sell off days.

If the above expenses and rental income are correct this deal definitely deserves a hard look... here in NJ we can' t touch these numbers...

Also, how are apartments? Condition? How are mechanicals? IE. heating system, roof, windows? Can rent be bumped up to 900 or 950? What is market rent? I assume these are 1 or 2 bedroom units? Any opportunity to produce more income? garages, basement storage?

As it stands it would be a deal here in NJ market..

good luck, and post some pictures if you can.

thx,

Chris