All Forum Posts by: John Moore

Welcome to the BP family.  There are meet ups in NYC and Summit, NJ that you should attend and you should uncover some local real estate groups in your area to understand what the area has to offer.  Use key word to keep you informed of areas of interest.  Again, welcome aboard.

Determine if you can sign a Deed in Lieu of Foreclosure in the event you expire or don't make payments.  Not a legal opinion, just a suggestion.

@ChristopherRodriguez  The  Pocono's are like any other region,  some individuals like certain areas over others.  I have always found that the Pocono's are like a shoe store, there is a pair that will appeal to someone.  The reasons that property is purchased, ranges from commuter appeal, recreation, retirement, investment, sports (fishing, hunting, skiing, golf, etc.)  Tobyhanna has the largest development in Monroe County which must have attracted some people to buy.   The Pocono's are about 45 square miles and the locations vary from remote to being very developed; Monroe County also has remote properties as well as built up areas, if you are buying at tax sales most buyers are driven by price, condition and square footage.  Hope my input has helped.

@Christopher Rodriguez  Real estate and school taxes are paid separately.  Most people when asked what are their taxes, they combine the numbers.(but not always).    In most areas  of Monroe County there is no natural gas available;  when gas is referred to as a heating source, it is usually propane.  Electric is a very popular heating source and is found in a high percentage of older homes.  Most of the newer homes have heat pumps and they can be either electric or propane.  

@ChristopherRodriguez If the house is in a Community check to see if there any HOA fees owed and what the fees are, you might also consider doing a Title Search on the property to avoid any surprises. In Monroe County real estate taxes are high in some areas check out the taxes on the property to see if they are in a acceptable range.

Riots are not new, they have gone on for years and this is not the first one for Baltimore or other major cities.  This is not the first such event, we will recover and continue on.  Keep investing.

@AlishaFowlkes  Welcome to the BP family.  Check out the meetings or use the key word tool as meetings are held in Summit, NJ that you might find beneficial.  Again good luck in your new endeavor.

I am sure there  are  some.  Welcome to Bigger Pockets.

@Simon Zheng

  Welcome to the BP family.  There are two meetings that are very close  for you to attend, one is in NYC and the other is in Summit, NJ.  Use your key words to be notified of the meet ups, you will gain a lot of exposure and insight into the business.  Jersey should have some real estate investment groups that you can attend and gain some additional information as to what is going on in your area.  Again, welcome to the group.

You did not specify the length of time it would take to complete the job.  If the crew is in and out in a few day's then you might have a home run.  If they drag their feet and milk the job you might have a money pit.  You might consider a penalty clause if the job extends over a certain period of time then the compensation is adjusted.  I guess in a nutshell it depends how productive they are in the period of time they work.  In your calculations how much did you plug in for improvements?  Does the figure your working with fall into your estimates?  Everyone needs to make a fair day's pay, if you are getting quality work and a timely completion, they may be in line.  I believe there are Pocono contractors that are members of Bigger Pockets, you might invite them to bid.  This is the interesting part of the game start enjoying it.