All Forum Posts by: Ron Brady

My wife and I are investors and we're 4 properties in. We build our property analysis model assuming we are BRRRRing and paying off a mortgage. Out of every 30 or so central NJ properties we assess, maybe 1-2 have >$100/month in cash flow near the sellers asking price after we look at everything. Thus, we regularly make offers that work in our model and we're regularly rejected by sellers. We've had success with HUD properties and Craigslist/wholesalers. Not sure if this is helpful but it outlines our approach FYI.

So, we're in the middle steps of executing this approach so we're not yet able to confidently advise on specifics. I defer to that thread and the experts therein, particularly @Andrew Postell.

https://www.biggerpockets.com/...

@Nicolas Mitchell

Banks 75%. The difference to 70% accounts for other costs, wiggle room.

This said, we’ve found as new investors that we’re making investments in learning—also known as mistakes—quite a bit along this journey.

We've used Debra Simonsick at McHugh Realty in Maple Shade.  She is lightning fast and an investor herself.  This said, if you are looking for an agent to have a specific set of strengths/specialties, please share as that would help me know if Deb might be the right fit for your needs.

Cycling back on this thread, for anyone who might be interested. We reached out to our insurance provider who has proven to be fast, efficient, responsive and helpful.  They quickly provided us with a check to repair the damage. The insurance provider for the contractor has, in contrast, claimed that the contractor was in no way responsible for the damage. We continue to follow up to repair our property so we can get it on the market and to have our insurance company deal with the contractor's insurer.

Hi Melody. Welcome.  My wife and I are perhaps only a few months ahead of you in Burlington County real estate investing, if that.  This said, we use a realtor we like and are happy to refer to you. We can also share some thoughts & cautions about a recent auction experience, if you're interested. Please reach out to me directly, and I'd be happy to share the info.

Thank you @Colleen Esposito and @Christopher Wraback. Very helpful!  We've reached out to our attorney and our insurance company is our next step.

Thank you @Colleen Esposito I appreciate the advice.  I placed the insurance directly with the insurance company, not via an agent.  I guess it's just a cost of doing business that our rates may increase due to the fault of the plumber.