All Forum Posts by: Jena Richards

@Robert Murphy Came across your response and thought HEY! FLOOD NERD .. I just requested a quote from a flood ner… oh wait.. it was you lol

Sorry, Seaside Heights NJ 

Looking for someone who can run an estimate for an HOA.

Blocked from purchasing a condo due to lack of master flood policy and have the members interested in purchasing one but would like to see an estimate.
recommendations welcomed!

@Moshe Friedman is this your first purchase in the area? I’ve been analyzing this town for some time and would love to connect with current landlords to hear their pros and cons

@Matt Goldstein depends on where the property sits.. the geology of the property location plays a big part on its future. Is it coastal or along a river? It along a river, which meander its along could determine whether or not the property will exist in the future. I own an STR in a coastal flood zone and flood insurance still worked for my numbers and it cash flows. If it's insured properly and the numbers still work, I wouldn't worry too much about it

@Christopher Lynch hi there! While I don’t have a contractor, I was curious about your strategies in Mahanoy as I was just eyeing a property there. Are you renting or flipping? Not too much rental data in the town and am curious about vacancy rates. Hope you got the roof problem sorted out!

@Christopher Orr is this a photo of just one of the properties purchased as a group? Curious what your occupancy rate has been in this area. I’m looking into STRs here as well as Jim Thorpe, White Haven, and possible LTRs in the area

@Scott Rankin I’m currently eyeing STRs in these areas as well as Hickory Hills / White Haven. I started looking at the prospect of LTRs in these areas as well and found no rental comps. Did you ever analyze for LTRs?

I grew up in North Bergen and am currently looking in Lake Harmony as well, small world! Curious how you made out

I’m not sure what is risky here. I’ve owned my primary residence for only 4 years and have 150k in equity in it. I moved some of that equity in the form of a heloc to an investment property that cash flows. 

My grandfather wants to give me inheritance early. I don’t want to trigger a large deposit into my bank account during the loan process from him, so can he just pay my heloc directly is all I’m asking. Does the lender see a large payment on my heloc the same way it sees a large deposit into bank account? 

My heloc is not maxed out, my equity is not completely drawn and there are no loans or refinances on my investment property. Had my grandfather not stepped up saying he wanted to do this, I wouldn’t even be looking at another property. 

Thanks for the advice regarding gift money as cash reserves and seasoning. I will absolutely ask my lender their specifics