All Forum Posts by: Shawn Mcenteer

Hi @Olga K. there are a lot of investors in that market doing what you are looking to do.  I am not saying stop digging/researching but from the research I've done there are more favorable ways of investing in North Jersey that will provide more consistency with lower vacancy.  

Hi  @Mario Gonzalez I will let you know cash flow is for sure achievable in New Jersey if you are open to looking at different strategies particularly those related to creative rentals.  Numbers do not look the best but tend to be around break even for traditional LTR if done right. On the other hand my self along with multiple clients of mine are consistently cash flowing even todays market becuase we leverage creative strategies.  Combine these strategies with house hacking and I am not kidding you, there are ways of living for free in your asset.   I was in a property last week that easily next owner will leave for free in leveraging the property strategy.  

Quote from @Brian J Allen:

My son is graduating from Seton Hall, and we are looking for a Multi or maybe a large SF house to purchase for him to live in.  Hoping to either find some investors or an investor focused realtor.  I am a realtor myself in MA.  Let me know if there are some folks out there in this area.

 Hi Brian, happy to connect.  I specialize in Small multi family/ investment properties for house hacker and buy & hold investors in North Jersey.  I am currently UC on a seton hall duplex that will be housing student for this fall semester. I have dozens of clients in the Seton Hall area doing exactly what it is you are looking for. Assuming your son has lived off campus locally there is a good shot he has rented from one of my clients.  Happy to connect and help answer questions you may have. 

Hey Real Estate Agents,

Are you a licensed real estate agent or lender looking to increase your income without adding more to your already packed schedule?

I’m working with a team offering a one-of-a-kind real estate opportunity that pays an additional 1% commission at closing on the buy side — on top of your standard commission. The best part? This does not require you to take on side hustles or complicated referral deals.

Here’s what this isn’t:

       Not a course or coaching program

•   Not a second job

Here’s what it is:

•    A streamlined, plug-and-play opportunity designed for active agents who are already working with buyers
•   An easy way to earn more per deal — with minimal changes to how you currently operate
•   Fully compliant and transparent (RESPA Compliant)

Whether you’re newer in the business or a seasoned pro, this could be a simple and smart way to boost your income per transaction.

If you're open to learning more (no hard pitch, just a conversation), shoot me a DM or drop a comment below and I’ll reach out.

Let’s make your existing business more profitable 💼💰

Hey Real Estate Agents,

Are you a licensed real estate agent or lender looking to increase your income without adding more to your already packed schedule?

I’m working with a team offering a one-of-a-kind real estate opportunity that pays an additional 1% commission at closing on the buy side — on top of your standard commission. The best part? This does not require you to take on side hustles or complicated referral deals.

Here’s what this isn’t:

      Not a course or coaching program

• Not a second job

Here’s what it is:

• A streamlined, plug-and-play opportunity designed for active agents who are already working with buyers

• An easy way to earn more per deal — with minimal changes to how you currently operate

• Fully compliant and transparent (RESPA Compliant)

Whether you’re newer in the business or a seasoned pro, this could be a simple and smart way to boost your income per transaction.

If you're open to learning more (no hard pitch, just a conversation), shoot me a DM or drop a comment below and I’ll reach out.

Let’s make your existing business more profitable 💼💰

Hi @Joseph Kirk my understanding is property must have been used for rental/business for 24 months.  Where is property located and do you need liquid cash right away?  

Quote from @Jose Ferreiras:

@Shawn Mcenteer we currently do not occupy any of them. They are both rented We live in NY at the moment. And yes you are right, coming up with that down payment is really tough. It seems you did find the right lender to help you out, how did you come across them?

 If you can show that both properties are fully rented, getting another owner occupied loan should be achievable. I specialize in house hacking, creative lending plays a huge part in most of my deals.  Need to dive deeper with everything but from what you are saying so far it sounds like you would qualify for these types of loans. 

Quote from @Joe Auletta:

Hello everyone I'm new to real estate and looking for a good market to invest in a duplex around the 100-200k mark. I'm currently looking in Cleveland OH. Any advice or recommendations would be greatly appreciated thanks.

Best advice I can give is look locally to where you live and house hack. Owner occupied loans are a major advantage.  

Quote from @Cole Jennings:

I am new to real estate investing and I am planning on buying a 100k house in the Cleveland area and renting out to section 8. I don't live in Ohio so I would be an out of state investor. The market around where I live is too expensive for me at the moment. Just want some advice on whether this is a good idea for a first-time investor or if I should take a different direction.

Hi Cole.  I see this situation a lot and in most cases it can comes down to miss information. Regardless of the market you live in from New Jersey to the midwest leveraging a house hacking strategy is very tough to beat.  NJ is extremely high priced with high taxes but we also have extremely high rents that appreciate fast.  when you break down what it takes to by OOS compared to owner occupying a duplex multiple things will happen.  
-25% down loan means 100K property requires you to have 25K.  Leverage a 5% down owner occupied loan will get you a 500K property for same down payment
-when things go wrong in your house hack, you live on site already. When something goes wrong with OOS your 6+ hours away
-you need a place to live right now, why not have tenants pay for portion of asset you are living in
-100k property today.  maybe appreciates slightly at some point but not much.  There is a reason why NJ is expensive, we appreciate fast.  No joke cash flow is the joke, equity blows cash flow away.  Few hundred bucks per month does not change lives, hundreds of thousands of dollars in equity through appreciation is life changing.  Appreciate then buy the cash flow if you must (or keep property because cash flow comes with rent increases)
-management fees are not cheap, learning to self manage is easy
-having team in place 6 hours away is tough, situating team locally much easier especially if you align yourself with people doing what your doing.

To me OOS is taking step in wrong direction for new investor. 

Hi @Jose Ferreiras which property do you currently live in SFR or MFR? I will let you know my wife and I have lived in multiple properties, the largest down payment we ever put down was 10%. We have purchased multiple properties in which we still have today for a low as 5% down. The biggest hold up I see for people getting from one property to the next is down payment. When a property requirers 20-25% down it can slow process down big time. The trick is finding the right lender that will make low money down work in your situation, very few lenders specialize in multi family/owner occupied investment properties so most will push their basic loan options without getting creative.