All Forum Posts by: Justin Bush

thank you both for the quick responses...the property is a 3 unit with 2 in main house and 1 over garage which does have some potential to rent separate for extra income. Total square feet of rent space around 2600. I plan on exploring seller finance possibilities but property has only been owned since 2008 so not sur how much equity there. Could also go conventional but don't really want to use that much bread on it. @Derek B. what number would you feel better with offer?

hey fellow bpers!! I could use a little help if anyone feels so inclined. I am looking at potential buy and hold but not sure about numbers. At first glance I think maybe but want some experienced opinions as well.

Asking price...499k

Rent roll...4400month

Electric water and gas paid by tenants. Sewer by landlord at 1140 a year.

One tenant gets discount rent for groundskeeping.

Taxes...11065year(it's in Jersey so yes $11065.00 a year)

Capx...150month

Vacancy rate...3%

Any help would be greatly appreciated. Property is in decent area on border of good town and ok town but zipped into good town. Appreciation around 1.5%. 

Thanks everyone and anyone!

J

hey Mark!! Good to hear about meeting...thanks @Justin Fraser for getting my attention. I am planning on attending and my partner Mark will probably also be there. See y'all soon

Hey Patrick,

Welcome to BP. Just a heads up...there is a meetup next Thursday at Brookdale Community College. We had first meet last month and it was great to meet some people in area doing what we all hope to do. Maybe you'll attend? Anyway good luck out there!!

Justin

Looks like I'll be the only Justin there? Thinking I should get into B&H's so I can take all the vacactions you take..lol. Really though, count me in Mark. And a note to all thinking of going, please do...there was only five last time and even so, was very informative.

I second that motion!!

Hello to any NJ investors in the Central/Monmouth county area! Looking for investor friendly banks to go to for loan on first deal. Loan would be to LLC unless someone recommends better idea. 2 of 3 members of LLC have very good credit and we also have good amount of capital. Any suggestions greatly appreciated. Open to Ocean County too.

I am definitely planning on attending. The location and the timeframe are both good for me.   My business partner will most likely attend as well.

hey Jeff!!!

Try Pietro Bella in Old Bridge. Ask for Paolo. Tell him Lynn sent you.

Hope that's helpful!

Justin

Hey fellow investors! Looking to partner on first deal for fix/flip. Question about the financing. What's best way to go about loan? Should all involved be on mortgage? Or put loan in llc name? I currently have loan on my home but partner doesn't, should it be in his name? Anyone with experience, some advice would be very appreciated.