All Forum Posts by: Jake Handler

I'd say it depends on your situation.  House hacking is a great method but not the only.  Value-add opportunities are vast, in any market.  It just takes some extra creativity sometimes.  In one of my homes I added an extra bedroom within the existing sq footage.  I didn't mind paying over asking because I saw a way to create value that my competition didn't.  So many ways to get involved!

 Comment of the year

I love the heloc option.  One thing to consider is the "backwards" method- I'll name it.  For example, you can add a new roof before the heloc so your property would appraiser higher and therefore you'd be able to take out more.  I saw this more-so when rates were lower and it was more likely that your excess cash value could yield a higher return.  Each situation is different of course, but love thinking creatively and getting it done the way the circumstance calls for.

Welcome Steve!  Many of my friends were met through forums like these.  You surround yourself with people who think alike, and you naturally start growing.  Stay active in the local real estate investing community and you'll see the same

Yes I have a couple attorneys I work with regularly and would recommend.  I will message you more details.

"Do you invest yourselves?" Someone who doesn't invest themselves may be able to speak the language, but there's still a difference in truly understanding the landlord's perspective if you are one yourself.

"Walk me through a situation where a tenant needs a repair" I would want to work with a company who has an in-house maintenance team.  Anyone can google "local plumber" but a company with in-house workers will operate with you as a priority both with time and price.

Found an off-market deal in Northern, NJ and trying to make it work.  I've made plenty of calls and ran plenty of numbers but would love to hear others' opinions; mostly in the financing field to see what my best financing options are.

Duplex purchase price $225,000

Rehab: $100,000

ARV: $450,000

My preferable strategy is buy and hold, especially because it's a duplex. However, financing feels a bit more challenging with buy and hold; as there are more moving parts. If I raised private money, I'd have to refi to pay investors back and not sure the numbers work to do that. If I were to use hard money and refi into DSCR, I'm still leaving more money in the deal than I'd prefer.

So I'm also considering fix and flip; as that seems like the "easier" route for the trajectory of my portfolio.  Not my preferred strategy in general but it might be better for this; as I can rinse and repeat.

I'm wondering what my best financing options are.  I understand there are fix and flip (or hold) loans that include the bank financing 100%, which sounds amazing, but my concern is the extra hoops through the process.

Other thoughts are partnering with someone who can get a conventional loan & raising private money for the reno, as well as hard the hard money option.

Seeking insight from other professionals.  Thank you very much.

I was wondering if anyone has had any success or can share insight about the process of assuming a loan from a seller when acquiring a property.  The idea makes a ton of sense for both buyer and seller; but I was wondering if this is actually happening often from anyone who would like to contribute.  As a real estate agent I'm able to look through the closing disclosures of my sales and I have not yet found one loan to be assumable.  Is it less common locally to North Jersey, or less commonly available all together? 

Are you running an active business with the property and land?  Can you use the revenue of the active business to do a commercial refinance and maybe pull some money out of the asset?  This way you're getting some money in your pocket without selling, to use for the next step in your real estate journey.

@Justin Donnarumma 's expertise and achievements in this field are truly impressive, and I'm eagerly looking forward to his upcoming session on Wednesday where he'll be sharing his methods. Justin and Tyler's insights are bound to be invaluable for anyone interested in maximizing their income through real estate, and I can't wait for them to share their experiences