All Forum Posts by: Marcin Ferenc

@Gabrielle Woodard, try putting this property through the 50% rule if you are thinking of renting it. 

Take the monthly income x 50%. From that subtract your mortgage (at 20% downpayment your looking at financing about $117k which comes out to just under $600 a month for principal and interest on a 30 year 4.5% loan ). Based on this, it does not seem like a good rental because it comes out to a negative number. Rule of thumb is that you at least want $100 per door.

$1,020 x 50* = $510

Loan Payment = ~$600

Cash Flow = -$90

Also please remember, this is just a rule and not a hard fact. Hopefully I didn't miss any calculation in there.

Wish you all the best,

Marcin

Hi @Jabari Adams and welcome to BP!

I am from northern New Jersey as well so my knowledge of real estate down south is limited. I would however advise you to search for someone who has experience with student housing. I have never owned any but have heard that it could be a headache when college kids decide to party too much in your building. In any case, I would also recommend you set your keyword alerts for "student housing" to help you meet people who may be knowledgable in that field. 

Regards,

Marcin

Thank you all for the welcome!

Hello @Denise Stanford and welcome to BiggerPockets. I am a new investor from NNJ, if I can be of any assistance please let me know. 

Hi @Carlos Lopez, I'm a relatively new investor from North Jersey as well. BiggerPockets is really a great place to learn about REI. Here you will find answers to all of your questions regarding real estate investing. If I can be of any assistance don't hesitate to contact me.

Regards,

Marcin

Hello everyone! I have been a long time reader but first time poster on BiggerPockets. I have gained tons of information and inspiration from this website already and now I hope to meet like minded people and develop myself further. I have been actively investing in real estate for 2 years starting with a single family flip. After the flip I purchased two rental properties and am currently finishing up my second flip. I work in the financial industry for a full time job. I hope to eventually do REI full time. Thank you all for reading! Marcin

Hello, I am having the same issue. I upload a picture and it says accepted however it never shows up as my profile photo. 

Thank you,

Marcin