All Forum Posts by: Nicholas Sheridan, Jr.

@Robel Segu That is actually a very interesting situation you are in, kudos to you for noticing this opportunity! You should reach out, join your local REIA and start networking

@Michael Bangsal I would assume SFHs rent for more. I don't know much about mobile homes so I don't want to steer you wrong however I do know that a lot of times when people sell mobile homes they are located in a park. The park usually owns the land that the mobile home is on and will charge you rent for the land

@Janitzia Rodriguez  You shouldn't need the app to view it just paste this into your address bar https://i.imgur.com/u0ocDRI.png  

@Adrienne Medina Make the change ! As for BRRRRRRRGHIMAPIRATE I just made a joke about BRRR because there are so many Rs lol. I will walk myself out

@Derek L Mooy Good idea, never be afraid to step back from a big decision like this and think it through

@Adrienne Medina Well I would make sure your finances are in good standing following this flowchart https://i.imgur.com/u0ocDRI.png and then I would take what is left to use as a downpayment for a BRRRRRRRGHIMAPIRATE or small 2-3 family multi.

@Derek L Mooy

1) Make sure you do your HW and run all the numbers. Any person selling something is of course going to say they are offering you a great deal (especially if you barely know the landlord). I would suggest you skip this deal and look for the one you want. 

2) Yes go with this one, you could use the $20k as a downpayment for ONE property or possibly two. Unless you are buying modular homes $20k is not going to go as far as you think especially because you will most likely need an FHA loan and that has extra closing fees in it.

@Alia Bennett Read this short pdf on flipping houses  https://www.biggerpockets.com/guides

Looks nice! I would suggest 2 things: some type of walkway and add another shutter possibly in between those two windows (looks off to me)

@Matthew Smocovich The growth in the Jersey City/Hoboken area over the last couple years is absolutely insane. Personally, I think its at the top of its bubble with all of the new skyscrapers shooting up every month. There is even an area near the Liberty Park lightrail station where 3 new apartment buildings went up right next to an abandon disgusting building (which it doesn't appear that the building will be destroyed before they try and fill the new apartments). To give you honest advice the only way to be cash positive in these areas is to build massive 30-40 story apartment buildings. Its a cool area and everyone wants to live there but at this point I am not sure that you can find anything good unless you go across 78 - which of course is a dump. Maybe look more towards Hoboken (still overpriced) or even west? Goodluck!