All Forum Posts by: Joseph Guzzardi Jr

@Tarek Emam if you are planning on using the BRRRR strategy how are you financing the property? You are likely to use hard money unless you have all the cash outlay for both rehab and purchase price. Hard Money will lend you the rehab costs and portion of purchase price but if you have minimal to no experience those rates will be higher. 12-14% with 2-3 points, the draw fees potentially etc..

If you joint venture with someone who has experience those #s can change drastically.

@Tarek Emam You should consider joint venturing with someone who may be able to provide their credit so this will be a non issue for you. Investors with minimal to no experience even with good credit will pay a tremendous amount for access to hard money for deals.

@Kyle Debiase this was the exact situation I put myself in. Joint venturing and raising capital is a very proven way to get into multiple properties.

@Kyle Debiase from what I understand not just a covid thing. Permanent a strong word. Basically a battle between investors and long term tenants and Marty along with other council people are in the middle. They know investors are going to be the people turning the city around,but also need to find a way to respect the long term/permanent resident.

Regarding permits, licenses etc.. anytime there is success somewhere govt wants it's piece so I'd imagine that's something that has taken place as well. Regardless still worth it in my opinion and I plan on purchasing more.

@Kyle Debiase depends on which Ward you are in. Ward 6 they were limiting if I understood correctly. That's closest to ventnor. I plan to acquire another property over there by end of year

@Curt S. Currently having success in Atlantic City

@Steven Skarupa utilize tools such as AirDNA, price labs,mashvisor. I don't directly manage my property but I've used them briefly before purchasing my property. It was also suggested to me that you don't want to have too low of prices compared to the market because of potentially attracting undesirable tenants.

@Teriek Grant what kind of properties?

@Maria Callaghan HOA...that's a no for me..Costs and more rules/regulations. No thanks

@Sam Bans your attorney would know best based on what the contract states. There is a possibility if there are any clauses related to rents/leases on the property that you may have an out there...but it's a stretch