All Forum Posts by: Stephen Kappre

Sounds like you are doing lots of smart things and your goals are awesome. Your carpenter advice and experience I am certain will come in handy (no pun intended) to the community here. Also @Justin Eaton often schedules a monthly BP meeting in the area that is also a great time to learn and rub shoulders with like-minded peeps. Welcome (again) and always feel free to reach out if you need anything. 

There are lenders that will do this although the pool may be smaller and the loan details not as nice as the conventional or FHA options, but its more important to get started than to let a few bucks stand in the way. Also you may consider doing it with a partner, for example the partner does the loan part (203k, for instance) and you do the rehab part. Since you can do that for up to 4 units there is great potential to buy low and keep and create a lot of equity since you will be doing the reno yourself. Also, you could consider a co-signor. If you are in the Gloucester County area hit me up for some coffee - always looking for new friends in the biz. Also @Justin Eaton coordinates monthly BP meet-ups usually in the Cherry Hill area. Come check them out!

Anthony is there something specific you need this atty for? 

Until you get contracts back signed by the seller then you really don't have anything. Sometimes they take days ... even weeks. There are many variables, but you can set yourself up for success by working with an agent that does it everyday and as already closed on a lot of business this way. It depends on the seller's systems in place. Things matter like relationships, building rapport, experience with the selling bank/investor, knowing the ins and outs of the system the seller uses, and more. 

Hi @Amy Tracey and welcome. I live and work in South Jersey and love it here! It is a great place to live and invest. In the Gloucester and Camden county area we have meetups that @Justin Eaton spearheads each month with various speakers and learning opportunities. Its a pretty chill time to learn and network and hear some great stories of what others are experiencing. Hope to see you around! 

Welcome @Paul Quinn !! Great to hear your enthusiasm and hope we can help keep those fires burning strong. Reach out if you need anything. 

There are definitely both BRRR and fix and flip opportunities in South Jersey. Often the same property will work for either of these techniques, although as a BRRR you will have a big advantage as an owner occupant. Certain sellers such as HUD or FNMA will have "first look" or "owner occupant" 10-15 day windows when a home is out on the market and ONLY someone that says they are going to live there can have an offer accepted. This scenario alone around here makes BRRRR possible otherwise investors would snatch everything before the traditional home owner gets a chance to get in a place where they can create some equity. As far as seasoning 6 months is a general rule of thumb but talk to a specific lender on that. Hope this helps. If you are in the Gloucester County area reach out and let's get some coffee. :)

I've always had great success with Foundation Title, who has about 10 offices around the state. I do a lot of REO on the buy and list side.

Welcome @Jeffrey Edmiston !!! Thanks for taking time to say hello. We have local BP meetings. Look forward to meeting in person ! 

@Eric Hughes Jr. welcome! Love having locals on here!