All Forum Posts by: Joseph Tarallo

I'm looking to buy some properties, but instead of getting a conventional loan I'm looking to get a line of credit so I can be a cash buyer. Is that possible ?

Does this mean the seller can also back out of the contract and decide to take someone else's offer?

This is based on everything else being okay. Obviously I am going to look at it and check out all appliances, roof, separate utilities and all that. Which I am going to make tenants pay for all utilities.

http://www.realtor.com/realestateandhomes-detail/37-June-St_South-River_NJ_08882_M53574-17690?row=11

Asking price 210k which I will offer a lower price .. 2 family I can get around 1100 each unit. mortgage will be about 750.00 a mo @ 20% of 200k Tax is cheap compared to other parts of NJ 400.00 mo. Insurance say 125.00 mo

Decent location in NJ close to all highways.

okay I'm just not familiar with getting a refi or line of credit. Idk if it makes more sense to get a conventional mortgage or use the equity in the house. Interest rates are pretty low right now still so I guess I have the option.

They probably aren't fixed rates either are they ??

What kind of interest rates are giving in a line of credit? They don't follow Mortgage rates. Are they typically higher or less than a mortgage rate ?

What can you do if you have 2 properties pad off and worth about 250 k each . I'm not talking about selling them either. Is there a way you can borrow money off them to put a down payment on another property ? Is that what refi is..?

@Ahmad Rowe I'm open to all kinds of contacts. Thank you

I'm looking to buy in NJ. Preferably I was looking in middle class areas but seems like every thing is over priced or sold by now. I am finding the best deals in cities like Newark, Elizabeth, Linden, etc. Does anyone have experience in Newark or these areas? I know it's a risk investing anywhere but I don't want to buy in a war zone either. Thanks if anyone can help me out in the NJ area shoot me a message. I'm looking for Multi Family. Also if anyone has a good Realtor in the NJ area who knows these areas let me know. Thanks I appreciate all the advice on here .