All Forum Posts by: Marcin Ferenc
Marcin Ferenc has started 7 posts and replied 87 times.
Post: My First Flip - An Amazing Experience!

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Post: 15 year or 30

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Post: New from New Jersey

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Hi @Kevin A. welcome to BP! A Multifamily is a great way to get started in REI. If you can cover your mortgage and taxes with the rent than its even better. First think about whether you want to live next to your tenants though. I know some landlords hate that but it does make the first purchase a lot easier as you qualify for owner occupant financing.
I disagree that NJ is not a good market. I think there are opportunities everywhere you just have to search diligently for them. Shoot me an email if you have any questions.
Regards
Post: How have you found your properties? Here is how I found mine.

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
@Larry Turowski Wow that sounds very impressive. I found my properties just using brokers websites. Boring but has worked so far. I will use some of the strategies you mentioned in the future though.
Post: Past Event- August 19th, 2014 NYC Meetup in Manhattan with BP VP & Author Brandon Turner

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Post: Rental Repairs

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Look at it this way, will these issues cause larger problems if not taken care of ASAP? If so, do it now and save yourself the headache. If not than let it go. Obviously consider the safety of your tenants when making these decisions.
Post: IN GROUND OIL TANKS????

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
I personally would not purchase a house with an underground oil tank. I am just too afraid of what might happen with them. There is a house not too far from one of my flips which has been on the market for over 2 years at a good price but nobody is touching it because of an oil issue.
I'm sure you would get the majority of your money back in the sales price after you do the conversion. Also check if your town is giving any subsidies for owners who are removing the tanks.
Post: Contractor/Subs raising prices

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Post: Potentially My First Deal - Looking For Some Advice Please

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23
Post: Financing a second property

- Flipper/Rehabber
- North, NJ
- Posts 91
- Votes 23