All Forum Posts by: Stephen Chatto

If you have good debt on the houses...  then I would do my best to keep that in place.   It is hard to get 30yr debt on income property.  

I am a little confused....  the mortgages are in your name and you only on 1/3 of the property?

Well.   You state contract is best if you really understand it properly.   Just need to make it assignable if for some reason it's not, and make sure that you fill it out correctly.   

I local real estate would most like be able to send you a blank copy of the state contract for you to review.   You can also use one of the two pagers that many of the wholesalers use.   Not quite as effective, but does the trick also.  

I see that you are in Florida, so I suggest that you talk to some locals that are actively buying or wholesaling and see what they are using.  

Good Luck, 

Steve

We have 3 Houses for sale in Trenton NJ as Turnkey Properties (Tenant and Certificate of occupancy in place)   Management is an option.  All come with 1.5 months security deposit transferred to new owner at closing.

#1) 156 Girard Avenue - Trenton - NJ 

• $36,000 Purchase Price
• 15% Cap Rate
• Cash Flow (NOI) is $474 per month

#2) 29 Orange St - Trenton - NJ

• $47,000 Purchase Price
• 14% Cap Rate
• Cash Flow (NOI) is $564 Per Month

#3) 503 Chestnut Ave - Trenton - NJ

• 58,000 Purchase Price
• 12% Cap Rate
• Cash Flow (NOI) is $581 Per Month
• Tenant has been in place over 1 year

Feel free to call myself or Jason if you have interest in purchasing or have ANY questions at 267-580-9017  

Our Meetup Group - Mercer County Investors is having another meetup on 3/4 @ 6:45pm

Click here for a link to the Meetup.com/MercerCountyMeetup

There is no Charge, and free parking.   The meeting will be held at our office in Trenton, NJ

Come join us as we cover several different strategies on how to maximize your earning potential and lower your risk factors by leveraging other people's money to close the deal.

We will be discussing in detail how to structure several creative "joint venture" options, that we have personally used in the past, earning our selves and our investors solid returns.

We will show you:

• How to buy properties with "no money down" (None of your money).
• How to determine which strategy to use for each deal.
• How to make your deals appealing to potential investors.
• How to create win-win-win situations for you, your buyers and sellers.
• And much more.

We hope you truly get a lot of value from this event and utilize some of these strategies in your real estate businesses. We are looking forward to seeing you all there.  

1st... Learn, Learn and then Learn some more. Dig into forums, Podcasts, Books, REIA Meeting, Etc.

2nd...   Take action..

And while your at it have fun!  Fun is the best part!

Steve

@Don McIlmurray 

 Welcome to the group.   In the summer when we go on motorcycle runs we always end up going through Easton, PA.   Our business is based in Trenton NJ...   Which really isn't that far from you.  :)  You are more than welcome to come down to one of our meetups.   We host them regularly.  Anything that we can do to help feel free to reach out!   

Thanks, 

Steve

Do a non exclusive option for the amount of money they owe.   Anything over that is yours, and your locked in.  If you have the same buyers all the time they may eventually get wise to who your buyers are and cut out the middle man.    Sometimes your buyers only trust you and your good.  

Good Luck.   

Steve

Is this a line of credit off your primary that you are using to invest?   Are you asking how I would invest an extra 125k?  What are the terms on that 150k?

I would be more than happy to tell you how I would spend your money...  :)

Steve

Seems to me that if you are actually going to live in the house then take advantage of better terms and do the deal in your own name.   Why is pops going to be a 50% owner?   All he is giving you is the Down Money.   Why are you trying to rent it to yourself.   Its a personal residence.   Treat it as one while it is. 

@Christopher Noto - Nice to meet you buddy!  I am an investor in Mercer County NJ!   We have local meetups and stuff, and I would be more than happy to help you in any way I can!   My office is in Trenton, NJ.  So If you can ever make it there one day we can do lunch.  

Happy Investing!

Chatto