All Forum Posts by: Romeo Abenoja

 16 Spruce Ave, Ridgefield Park 

Bergen County wholesale deal available!  This is a 3 bedroom, 2 bath colonial with a 1 car detached garage.

Acquisition price - $215,000

Rehab budget - $100,000

ARV - $425,000 - $450,000

Please note that although train tracks appear at the rear of the property backs up to the railroad. The railroad tracks are approximately 25 - 40 feet below the property and is not visible.

Please contact me for the comp package and any other questions.

[email protected] or 201-832-1398

Thanks for looking,

This is a 5 bedroom, 3 bath colonial located in the Pines lake community of Wayne. Very minor rehab needed; update kitchen and baths, minor exterior repairs, cosmetic patches on the interior.

Asking - 415,000
Rehab - 30,000
Arv - 550,000 - 575,000

Must be able to close in 14 days or less. Priority will be given to those than can close quickly. Structured as an LLC purchase.

Recent Sold Comps:

370 Indian Rd - Sold for $530,000, 4 bedrooms, 2.1 baths 11/17/16
161 Osceola Rd - Sold for $545,000, 3 bedrooms, 4 baths 3/16/17
117 Indian Rd - Sold for $567,000, 5 bedrooms, 3.1 baths 7/28/16
857 Pines Lake Dr - Sold for $665,000, 3 bedrooms, 3.1 baths 11/1/16

Link to walkthrough:

https://youtu.be/xFrnGm7xSOQ

I'm also willing to entertain Joint Venture deals.  This would be a great first deal for any new investors!

Thanks for looking!

This property is on a deep 50 x 330 lot and is a 3 bedroom 1.5 bath Cape Cod.The suggested rehab would be to add a level, add a master bedroom/bath, add a 2 car garage, and new kitchen and baths. There is a lot of activity on this street; a few properties are currently under-going rehab and 2 houses are under contract for sale. The previous owner had plans done for a 3,000 square ft house, which were approved and can be included with the deal. Don’t miss out - The projected net profit is over $100,000!

• Acquisition price - $ 335,000
• Estimated Rehab Budget -$ 150,000
• After Repair Value - $ 650,000 - $675,000

This property is currently under contract and will be an LLC purchase. Looking for cash offers only with proof of funds and the ability to close by Feb. 24th. A non-refundable $5,000 deposit will secure the deal. Buyer will be responsible for all certificates. First one with the deposit gets the deal.

Please reply with your email for access to the wholesale package and to be added to my buyer's list.

The person in charge of negotiations with the bank has the ability to get it done quickly if they know what they are doing.  If the listing agent isn't experienced, you can ask to take over the negotiations with the bank. There are a few third party companies that can do the negotiations for you or you can have an experienced agent\lawyer help you out.

When submitting the short sale package to the bank, make sure you are submitting a complete package (which means all of the seller's documentation are up to date). Have your offer in the package with your proof of funds (banks like cash offers) and submit a preliminary HUD. A complete package will get to underwriting quicker! If you are really serious about the property, I would run a title search ASAP to make sure there are no hidden liens or judgements. If there are existing liens, you can inform the bank and try to get them to pay some if not all of them. These are some of the things an experienced agent can do to speed the process up and be proactive.

As others have mentioned though, it is ultimately up to the bank and how fast they want to work.  Best of Luck and feel free to PM me if you have any questions.

Thank you everyone for your interest! I'm happy to say this deal is gone and we already closed with a JV partner.

I have a few other properties that will need more investors so please feel free to reach out if you are interested in similar types of deals.

Also wanted to add that I'm open to do a Joint Venture (JV) on this project. If you have the money but have no time or experience to complete this project, I am willing to manage the whole project.

Please feel free to reach out with any further questions.  Thanks for looking!

This 3 Bedroom, 2 Bath colonial is located on an oversized lot and only requires a mild rehab.  I was going to rehab this property myself but another opportunity presented itself and now I'm looking to wholesale this deal. 

Scope of Work:

• Replace garage door
• New siding
• Replace windows as necessary
• New kitchen appliances and cabinets
• Demo kitchen/dining room wall to obtain open floor plan
• Update bathrooms
• Paint interior - whole house
• Refinish hardwood floors
• Minor landscaping
• Remove existing above ground pool

Deal Breakdown:

• Acquisition price - $210,000
• Estimated Rehab Budget - $60,000
• ARV - $350,000 - $375,000

Looking for rehabbers or end investors only.  Must purchase with cash or hard money.  First one with a deposit will get the deal!

Call/Text: 201-832-1398

Email: [email protected]

Website: distressednjproperties.com

 Hi Larry,

Please add me to your buyer's list. I invest in bergen, passaic, and Hudson counties in NJ. If you get anything for NY, I'm looking for Brooklyn properties.

My email - [email protected] 

Thanks,

Romeo 

Hi Ben,

I'm a realtor and investor in northern nj.  Feel free to reach out if you need any help.

Best Regards, 

Romeo