All Forum Posts by: James Charlot

I management north and central jersey? Where are you looking? 

Can anyone recommend a home inspector near Richmond, Indiana? 

@Jessica Zolotorofe 1. I would have to create an entity and I’m wondering if it needs to be from NJ or Indiana since my primary location is in NJ. 2. How does owning in another state affect my taxes here in NJ? 3. Private Money Would be used to own this property should I put the property deed under My LLC? And how will that affect my refinance? Not sure emit these questions should also or should be directed to a CPA?

@Jessica Zolotorofe thanks Jessica I do have some other questions if we can conversations more. Message me email or number. Thanks

@Jessica Zolotorofe thanks Jessica I do have some other questions if we can conversations more. Message me email or number. Thanks

I am looking to buy out of state and I am from New Jersey and the property is located in Indiana. The property is off market, and my question are, What form or document should I be using to send over an offer New Jersey or Indiana? Should I be using a lawyer to do this? And if I am using a lawyer should he be in New Jersey or Indiana? Thanks for the help in advance!

Thanks guys for the information

Is it possible to find a lender who will lend a small amount on a deal, for example, property price 35k rehab 8k ARV 75k? As well as find a lender to refinance after 6 months for a long-term deal.

@Stephanie Irto thank you Stephanie I greatly Appreciate your input! I understand now!

Ok, I apologize if I'm not understanding, just trying to educate myself on the banking side and what different banks may offer. I don't own any property this would be my first deal. 

My Scenario:

Looking to purchase a Multi-Family (2 unit) property $175k CASH (Includes purchase and rehab) 

After 6 Months of purchase, rehab, and tenants in the unit I would be looking to Cash out I assume that I would get 70% of the equity in the home (ex. Now the home is worth $250K = $175K in Equity). 

Would I be able to cash out? Are there any bank recommendations that would qualify me (Again I have a 674 CS)? 

Or Am I wasting my time because my CS doesn't command me to cash out?