All Forum Posts by: Kon Zel

If anyone has recommendations for insurance agents in the area, please PM me.  I'm under contract and want to shop a quote around.

@James Martin  May as well jump in and ask for a copy of your map as well...

FNMA guidelines are min of 50K.  You have to find a portfolio lender that's willing to warehouse (or lend their balance sheet) your loan.  Call around to small community banks, you might get a bunch of "no's" but eventually you'll find one that will lend to you.

In NJ, lenders won't lend on properties with underground oil tanks.  So most sellers are forced to remove them or find cash offers.  

I've gone through this recently on a REO in NJ. Bank refused to remove oil tank prior to closing, so I'm not pursuing the contract.

@Peter Greenberg am I missing something or was this just listed on the MLS at 75k?

https://www.zillow.com/homedetails/3-Nevada-Ter-Browns-Mills-NJ-08015/38155157_zpid/

Are you planning on refi'ing after repairs? Otherwise, the CoC return at 4% is rather low. There are better deals out there.

@Lynne Locklin 

Yes, I'd be the potential buyer.  

Please send me details.

Can you please send details to me?

What's the address?  I'm interested.