All Forum Posts by: Joseph Guzzardi Jr

@Noyessie Hubert hey! Investor and agent here in NJ. I've focused on small multi family and rooming houses as well as helping others. Happy to help answer any questions. Good luck on your journey

@Andy S. How far along in the sale process did this come up? Was this last minute? Depending on timeline could be more concerning. There are certainly ways to protect yourself as others have noted, I would consider making it mandatory the seller leave funds in escrow equal to the amount of rent you would be obtaining for the length of time he/she is occupying the property, plus an additional 10k to protect you for eviction costs.

@Brianna Harrison it comes down to 1 thing. Relationships. Relationships with wholesalers. Relationships with agents. Relationships with other investors.

@Cade Antonucci the BRRRR strategy in NJ is not really that effective unless you are ok leaving some money in the deal. With the current lending environment and prices today you have to be ok leaving anywhere from 10-30% of your money in the deal. Many locations in south NJ are good for this model however be sure you understand the market, sub market and the type of tenants you will encounter.

@Giuseppe Natale Jr. House Hacking the best way to get started. Evolve from there based on your goals and needs. Investing Passively could be an option if you don't want to deal with tenants toilets and headaches.

@Matthew Russo Matt thank you for your service brother. Investor and agent in NJ. House hacking is definitely the way to get started. The good thing is you have options in terms of loans. Happy to assist in any way

@George Ghviniashvili Hey George, you start by getting educated for starters and meeting people at networking events. Subsequently start finding ways to make supplemental income so you can begin your journey. Even if you go with low down payment methods for your first property you will still need $$ and reserves to qualify.

Even the methods of "zero down" will require some money anyway so just get started on the above and you will begin to be ahead of many others.

@Yangyang Jin I also tend to take the application first approach because there are a lot of people who waste time, aren't serious or don't really have the $$ for the apartment. Having said that, maybe it's worthwhile to notify all interested parties of an open house/walkthrough for one weekend. Have an application station on site.

If exposure is an issue, you need to make sure your rental is listed on all popular sites and MLS ideally.

If all of these occur and still no solid applicants the issue is likely the price.

In the process of purchasing a mixed use building where the store front used to be a dry cleaners. What type of inspection/due diligence should I be performing on the property?

@Robin Simon do you fund rooming houses?