All Forum Posts by: Stephen Chatto

 Talk to Jason Ramos - http://www.zillow.com/profile/Jason-Ramos/

He is my partner, and an Investor as well as an agent.  He would be glad to help.  

SJREIA is great. I am in Central Jersey. I know a few people in camden doing deals. Get to as many REI meetings and meetups as you can!

@Eddie T.  Thanks for asking

Taxes depend on where in Trenton.  It is always a consideration when looking at a purchase.  There are many sections of Trenton, and the taxes vary in those different neighborhoods.  The Properties we are targeting in the 65k Range would usually have Taxes that range from 3-4k / Year.   East Trenton is a little less all in price (About 45k) but the taxes are normally around $1,800 / Year, and rents are closer to $1,100 / month for the types of houses we look at.   

We are focusing our buying mostly in East Trenton, Chambersburg, and South Trenton.  We like Villa Park and Franklin Park...   But the price points are much higher and rents are about the same.   Of course we will grab good deals in those areas if we get them. 

Eviction court is every Friday.   Deadline to file is Tuesday.  Your court date is 2 Fridays after.   If your tenant does not show.   You win and they will be out about 2-3 weeks later.  If your tenant shows up you can make a payment plan with them and the court stamps it.  If they do not make the prescribed payments, 2-3 weeks later they can be out.  If no plan can be reached you go in front of the judge.  He will usually give them until the end of the day to pay, and if not you win, and 2-3 weeks later they are out.   (Not legal advise, just my experience with the system)

Mercer County eviction process is very fair.

Let me know if there are any other questions. 

Thanks, 

Stephen Chatto
267-573-9506

Can you get good returns in your market on cash flow rentals?  Are you buying houses with 10-20% Returns?

Trenton is currently a market where the prices have been creeping up, but still really LOW.  These low prices coupled with high rental demand makes it the perfect storm for investors.  I have been buying up as much as I can.  Would you like to join me?

If you are interested in partnering up on deals in Trenton NJ, I would love to speak with you.  I am open to what it might look like depending on what each of us would be bringing to the table.  

Feel Free to call me at 267-573-9506, or as always ask any questions that you may have right here.  

Thanks, 

Stephen Chatto
267-573-9506

P.S.  Here is a Little more info on Trenton, NJ

What’s going on in Trenton?

LOCATION & TRANSPORTATION: Trenton is phenomenally located, positioned right between Philadelphia and New York. Head down to the recently renovated train station and you are in either city in about 1 hour. That’s not the only transportation choice as the River Line is another great way to get around.

DEMAND FOR HOUSING: Trenton being the capitol of NJ has a great majority of state jobs. Trenton also borders Pennsylvania. In 2011 a law was passed that all state workers are required to live in NJ effectively cutting off any chance for those people to seek housing across the bridge in PA. The city of Trenton partnered with the NJ Housing and Mortgage Finance Agency and instituted a Live Where you Work Program so that people who work in Trenton can obtain Low-Interest Mortgages to purchase a house in Trenton.

INVESTMENT IN THE CITY: In recent years Trenton has seen a lot of investment in the city. The train station has been rehabilitated, the Roebling Market, New Court House, Thomas Edison State College Expansions and New Residential construction throughout the city.

Why Be a Landlord in Trenton, NJ?

1) Phenomenal return on investment.

2) Housing prices are still very low.

3) Streamlined and fair eviction process.

4) A strong rental market with high rents.

Act now to take advantage of one of real estate’s best kept secrets before it’s too late.

The Trenton real estate market is on FIRE! With the average purchase price very low and the average rent payments very high; Trenton NJ is the number one buy and hold market in the country today. Where else can you purchase a property and fix it up for a total of $65,000 and rent it out to a tenant paying $1,200 a month?

This is why many of our out-of-state investors are flocking to this city and taking advantage of the phenomenal returns. We are providing our investors with CAP Rates anywhere from 10–20% on a consistent basis.

This is why you must act fast and take action now. Once the word gets out, it will only be a matter of time until the prices go up and these insane returns on investment begin to diminish. 

Do not miss this opportunity to get all of your questions answered in a discussion panel format. All three of these men have been wholesaling full time for a while now and willing to share whatever they can to help you learn how to improve your real estate business!

Location: The Holiday Inn in Princeton NJ (100 Independence Way)

Time: Doors open @ 6pm\ Presentation begins at 7 pm.

Costs: SJREIA Members = FREE, Non Members $15

Pre-Meeting Workshop @ 6:30 - 6:45 pm
MEETING SCHEDULE (BOTH MEETINGS):

6:15-6:45 – Workshops
6:45-7:00 – Break-Visit with Business Affiliates & Networking
7:00-7:15 – Announcements
7:15-9:00 – Main Speaker/Presentation

9:00-10:00 – Networking

Please RSVP at : http://www.meetup.com/MercerCountyInvestors/

This is truly a turnkey rental in Trenton NJ. The house has a valid certificate of occupancy, and a tenant on a one year lease at $850 per month. There is also a Security Deposit of $1275 that will transfer to the new owner at closing. There is currently management in place, and they will continue to manage the property if all you want to do is collect checks.

How does $400 per month into your pocket from cash flow sound from a turnkey Trenton rental property? Take a look at the proforma. That $400 per month is after all expenses, including maintenance and paying the property management company. Tenant pays all utilities (Electric, Gas, Lawn Care, Snow Removal, Water and Sewer)

Give us a call today for more information!  267-580-9017

Thanks, 

Stephen Chatto

If you are local to Mercer County NJ you need to mark your calendar NOW! 

Wednesday July 6th, 2016 - RSVP HERE

We are very excited that Jose Aponte has accepted our invitation to speak at our Meetup on 7/6/2016. He has been involved in many facets of Real Estate as well as other entrepreneurial adventures.  He is known as the Real Estate Hustler, because take what other investors give up an and hustles his way into a deal that works for everyone! 

CLICK HERE TO RSVP

Date:

Wednesday July 6th, 2016 

Time:

6:45pm - 9:00pm

Location:

Good Vibes Real Estate Solutions
354 South Broad St
Trenton, NJ 08608

Phone:

267-573-9506

Parking: Available Across the Street in the SIDE lot for the Church of the Sacred Heart!

 Liz, thanks for mention.  Feel free to reach out if you have any questions!

Steve

 I am not sure of the line that you are drawing between Cash Buyers and Investors.   With minor exceptions you are selling your contract to a cash buyer via an assignment for an assignment fee.  You are not selling properties, but rather contracts.   if your contract states that you are paying cash, the person you are assigning it to needs to be paying cash.  Paying Cash means that there is no financing contingency.   That person may borrow private money or similar, but they can not get out of it because the bank would not approve a loan.  

Hope that helps.

Steve