All Forum Posts by: Ralph Germain

I would say always Leverage OPM (other peoples money). However it may be tough to get a loan that small. So my suggestion would be to use your cash and invest in a larger property with more units leveraging a loan. In other words for $55k you could own the condo out right? or you could by a 4 family property and control a $500k asset for 55k - with tenants paying down the mortgage every month. Were you looking to buy this condo for yourself or as an investment?

Hi @Shlomi Mor - Agree with what most folks are saying on here. Making the jump from the 1-4 family range to 5+, you will need to utilize different underwriting skills/strategies. I'm interested in why you rather invest 2-3 hour drive from NYC as well. I find that is usually a limiting mindset (at least for me it was in the beginning) I only wanted to invest in NJ - But my partner and I have properties in OH, and we are in a couple of passive deals in TX and AZ. You may want to consider Real Estate Syndication as an option as well. 

Hey Vinh. I am a NY Based investor, working in NJ, and some other states with my business partner (Ohio and Texas) I would love to chat with you if you have some time this week. I'll send you a separate message

Hey @Justin Thompson - I can share my attorney's information. DM me

Hi @Mark Alston - what ares in NJ are you looking in specifically. I know a few brokers in a few different markets. DM me

HI Dorian - You may definitely want to go the pay route to save time. Propstream is a great web-based software that provides lists with property owners names and information. You can pay for their skip tracing service which is about $0.12 a lead with no min order. 

@Tanner Cole

I would def suggest looking out of state. In my experience the biggest factor stopping individuals (including myself initially) from investing out of state is a limiting mindset. But it’s actually an advantage (and skill) that you will have over your local competition. As an out of state investor, you will have a business model that you can replicate in any market while local investors have not developed that skill/muscle yet.

I’m a commercial multi family real estate syndicator.

My targets for any market is:

30% population growth over the last 20 years

40% median income growth over the last 20 years

50% median home value growth over the last 20 years

City-data.com is a great resource for finding this data.

Its not the worst idea - but I would be tactical about it. I've known some folks that want to get into Real Estate and didn't have great credit. It would be better to get the HELOC to pay down your credit debt (definitely get your Utilization down to about 40% or lower). Then with better credit you will be able to leverage better interest rates and terms as you begin investing in RE. Borrowing from your 401k to invest in RE is much more profitable than borrowing to pay down credit card debt. Of course Dave Ramsey will tell you much different ;)

Hi I am looking for an investor-friendly Real Estate Agent working in Essex County, NJ to purchase a couple of residential properties within the next 30 days.

Hi @James Dunwoody - I’m in NJ. Can you help with skip tracing ?