All Forum Posts by: Kitty Jedra

Hello Claire Trammell,

Thank you so much! Your response and suggestions are very helpful!

Kitty

Hello,

I am single middle age woman who has a good full time job not related to investments or real estate. Howerver, I have always been interested and would like to explore with real estate investments. I divorced a few years ago and own a single family home with about $125,000 in equity. Most of my salary goes into the mortgage, and therefore have very little savings. 

My parents passed a few years ago, and left my five siblings and I an investment property in Jersey City, NJ. It's a two family home with a business on the ground level. The business brings in about $1,800/mo in rent, but the two apartments need total renovation. Once renovated, they should bring in about $2,600-$3,000/mo. The renovation costs should be about &120,000 - $150,000. The home could sell for $250,000-300,000 as is. Only one of my siblings is interested in keeping and renovating the house, the rest want to sell. 

Now my questions ...! 

1) Should I sell my share of the investment property and invest in a small condo?

2) Should I sell my primary residence and purchase/renovate the investment property with my sister?

3) Although the single family home appreciated about $60,000 in five years, is it worth keeping when most of my salary goes into the mortgage?

 Any advise you can give me would be greatly appreciated!

Thank you so much!

Kitty Jedra

Thank you so much, Kyle Scofield!

 I've been hearing a lot about direct mail, but I am still not 100% sure how it all works. For example, where do people get their leads, what does a typical letter look like?

Thanks for any words of wisdom!

Hello,

As a newbie at real estate investing, I was wondering if someone can provide some suggestions on how to find good deals on properties, other than MLS.

Thank you in advance!