All Forum Posts by: Justin Vasquez

Hey @Tony Kim welcome! I missed the last windward meet up unfortunately but I've only heard good things about it so far. 

If you're interested I'd like to create a club of investors on Oahu to discuss how we can pool resources and share knowledge to advance a common objective. Hit me up if you ever just want to nerd out about real estate. I'm available for video chats/phone calls or text messages. 

@Hunter Hurst 

Hey man and welcome! My name is Justin Vasquez Active Duty Navy and i'm always down to video chat and answer questions/ share Ideas. I don't have all the answers but I do love talking/ teaching what I've learned to like minded individuals. 

If you're down for the exchange of Ideas or just want to talk through your situation I'm around :).

Hey guys my name is Justin Vasquez Active Duty Navy. @Logan McKenzie I'd love to learn more about your ideas on wholesaling I too really want a team. I love talking real estate and am just about to sell my current property, looking to do a 1031 exchange and combine it with an FHA home loan to finance acquisition and repairs. If you're interested in sharing Ideas then shoot me a direct message.

Hello BP Family,

My name is Justin Vasquez, as the title states I'm looking for a partner that's interested in teaming up on a small multi family deal in either Essex,Hudson, or Bergen County New Jersey.  

What I'm trying to do.

To acquire my second investment property I'm seeking FHA 203k financing on a small multi-family unit in Newark (anywhere but southward), Paterson (really high taxes), Jersey City (outside my price range), or East Orange (also high taxes). My situation is unique but, manageable. I simply need to push the envelope to make things work. I meet all requirements for a deal except one very important one, the occupancy. I do intend to occupy the home; however, I can only occupy the home when I separate from the Navy (in December).

Once the Triplex or hopefully quadplex is acquired, I'd live in one unit, get a roommate, and rent out the other unit. This combined with my GI bill/ Next Job will be an crucial aspect in acquiring my third investment. 

What I already have:

I have a loan officer willing to work with me in my unique circumstance, but no guarantees that it'll make it past underwriting and that would suck. The right partner greatly increases my chance of success. 

I have a real estate agent. Kind of.  Point is I can easily find a real estate agent so please if you respond let it be as a potential partner vice someone that wants to earn 3 percent. 

I have an unwavering belief in my ability to accomplish the goal.

I have a 3.5% Down payment.

I have an Architect/contractor 

I have a Real estate Lawyer (1200 flat fee? Is that a rip off?)

What I'm Looking for:

A partner with integrity,experience, honesty, and capital.

A long term investing mentor/ co-dealer

Any advice you have to make the deal work is always awesome and appreciated!

You might ask what's the rush?

I'm not, it just seems like it.  I've been studying analyzing, and financially preparing for this for a little over a year now. I'm determined that I can make this work. 

That said, so long as i'm still in the navy my gross annual income is 72000 and most of that is non-taxable. That will be significantly lower in my next job thus affect my ability to get financing on other properties.   

Lot's of warnings about investing in Paterson.  Are there any redeeming qualities/stories of the city. I wish to buy a abandoned multi family and fix it up as a nice single family. This will be my primary residence when I get out of the Navy and I will be renting it to my father, step-mom, and grandpa.

My reasoning is that, overall the property offers more space, a yard for my dog, and the prices are really low. taxes are high but when compared to Hudson County Areas they are low. I'm trying to use the BRRR strategy. That said one concern I have is the ARV being to low.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello BP,

My project manager and buyer agent are doing a walkthrough of an REO property today in North Bergen New Jersey. When is the appropriate time to involve my real estate attorney?

I'm having trouble getting disclosure documents from the seller. They say this property that has been on the market for two years and in and out of escrow does not have any such documentation.  They say they can't tell me if they have inspections on record, or records of liens or fines levied against the property. 

How do I break through that bull **** and get the answers I need? is that something the attorney can help with?

hello everyone, not to hijack the thread, I'm a newer investor coming back to Nj when i get out of the navy. I'm trying to establish connections with experienced investors in Hudson County. I'm also looking for a good realtor / investor friendly broker.  please message me if you're out there. Thanks for your time.

Congratulations! I'm motivated by your success thanks so much for sharing your story.

Hello @KevinO'donnel I am coming back to NJ from Hawaii once my time in the Navy is over. Any advice for Union City investing.  Lol I have so many more detailed questions but I won't go crazy here lol.

I'll definer look into using Angelo though