All Forum Posts by: Stephen Chatto

Hey Guys.   Just got this one.  

People are always looking for a fix and flip.   Here's a Fix and Flip. 

Click here for all the Pics and Details

Property Details :
-2650 Sq Ft
-1.72 Acres
-$9,779 Taxes
-Built in 1977
-4 Bed / 2.5Baths
-Huge 2 car attached garage
-2 Awesome Fireplaces
-Converted to gas heat.
-Central Air
-Well and Septic
-Was a roof leak that caused damage
-Needs Kitchen and 2.5 Baths
-Needs new flooring
-Needs Paint, Carpet etc.
-Needs Landscaping
-Needs Driveway
-May need a roof

Comps:
7/28/14

120k for a SIX FAMILY with Separate Utilities. Really? Yup.

There are a lot of investor catching onto how awesome the deals are out here in Trenton, NJ.

This place is in Decent shape. We budgeted 25k for repairs in the Proforma, but it should be really easy to come in way under that.

If you are looking for a cash cow give me a buzz and we can get you into see this phenomenal opportunity.

Call Jason or Steve with Questions at 267-580-9017

Are you familiar with Trenton? 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 capital 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?

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 upward of 10% 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.

A little info 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 capital 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 upward of 10% 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.

We have a cool little deal on 33 Summer St, in Trenton NJ.  

We are selling the house for $19,500 and the work could be done for about $8500 to get it rent ready.  Check out all the details on our Website http://SmokinghotREDeals.com/summer/

Feel free to give me a call or ask any questions that you may have. 

Need funding for your next deal? Stop playing games. If you want to take your real estate game to the next level you need to start raising private money to fund your real estate deals.

Next month we have Paul Margaritis and @Matt Faircloth speaking at our monthly meetup on showing you how they went out and raised millions of dollars to fund their deals. Don't miss this opportunity to get all of your questions on raising private money answered. Click the link below to RSVP.

Click Here to RSVP and unlock the private money your need to grow your business!

I like Trenton, NJ.  

Good Location, A lot of Redevelopment, Great Numbers, Fair Eviction Procedures.

 1)  The 1st deal I explained we made 15k on a small price point deal, Assigned it, Buyer and Seller (Both of whom we did not know).   That's why we sign contracts. 

2)  IKR,  I was surprised this buyer (Who I deal with regularly) was balking at the 4.5k Assignment fee (which was disclosed upfront).  Afterward He felt it was high for the price point (4500/18500 is about 25% of the entire deal).  

3)  They don't need to be in the same room or close at the same time for an assignment.   I did a deal recently with 4 SELLERS.   They all signed the papers in front of a notary, dropped them off the day before closing, and the buyer closed himself at the title company later that day.   (even brought me my assignment fee check back)

You don't need to double close to keep buyer and seller apart.  

You don't need to be at closing.  

Your title company can keep them apart if you wish.   But I don't see the benefit to it....   Why would you want to keep them apart?

Assign it.

Why are you trying to hide everything?   Did you not tell the owner you are planning to make profit?  Do you want to deal with Buyers who beat you up on your fee?

Recent Example from the end of March 2015.  

Purchase Price 20k, Seller Owed 45k, We sold it for 35k (15k Assignment)

All in full disclosure and Seller coming to the table with 25k to close.  Buyer knows what we made, Seller knows what we made and everyone left happy.   We closed in our office and right on our whiteboard was the address and 35k sale price. 

Seller hit up every online house buyer and had 5-6 offers on the property.  Ours was the highest.  (Complete Disaster of a house).

On another deal in January, I had a buyer question my fee.   $4500 on a $18500 Total Purchase Price.  He thought it was too high.  A quick conversation with him and that was no longer an issue.  Marketing costs A LOT of money.   

Anyways.   IMHO  Assign.   Assign.   Assign, and then next time Assign.  At least 99% of the time :)    

Taking ownership and resale only if you can INCREASE the spread, not if you are just trying to HIDE the spread.    (Ex Wholetailing or Buy and Flip)  

Good Luck!

What does your lease say?

Why are they delivering rent to your house?

Click here to see all the details on our website

We are selling a GREAT Turnkey Deal with phenomenal numbers. The house is a two family currently rented at $1,600 Per month and occupied. Check it out!

15% Cap Rate -- $810 per month in Cash flow AFTER ALL EXPENSES!

The house is in great shape. The house will have a clean Trenton Certificate of Occupancy and we still budgeted 5k for you to make this house perfect. So you are stepping into a Great Turnkey Property.

The house is in an up and coming redevelopment zone here in Trenton. Taxes only $3686

Check the pics, Call for appointment - at only $60,000 this is a Smoking Hot Real Estate Deal. Act now before it's gone!

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 capital 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 or in this case a two family with a tenants paying a total of $1,600?

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 upward of 10% 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.