All Forum Posts by: Terry Brennan

Welcome to BP Neil. I am an investor/Realtor in Southern New Jersey. Feel free to reach out to me anytime. 

Starting early wasn't the problem for me, it was my aggressiveness. Investing for me has always been the 2nd income, or on the back burner when life got busy. I have been investing sine 19 and am now 28. I am nowhere near where my business should be, or could be. I have always been buckled down with financing, not able to fund the deals that were sitting on my lap. I am also working on the relationship side, trying to team up with fellow investors to help each other grow or looking for a good mentor to keep me on track!

The common phrase I hear when talking to anyone that has grown a successful business is "if I knew what I knew now when I was your age…". My question is, if you could go back to yourself when you were first starting out, what advise would you give? What mistakes would avoid? and what are you regrets? 

I just received a document in the mail stating that my tenants have filed for chapter 13 bankruptcy. How will this effect me? They are in good standings on their rent and always pay onetime, on the docs it also states that the current lease will be assumed. Also, How will this effect the eviction process if they decide not to pay anymore?

@Steve Haight

I am looking in Southern New Jersey, mainly Camden and Gloucester county for residential single and/or multi family homes. I am building my rental profile but also looking to do 3-6 flips per year. 

I have been to many auction, I have purchased a few from Hudson and Marshal. As far as tax sales, I have been to many over the past year. They are saturated with hedge funds who tend to buy anything and everything.  I am semi familiar with tax leans, But I have not heard about tax surplus properties. Any idea on how you can find the information? Thanks in advance 

I have been investing for several years now. I search the MLS daily for deals but I have noticed that 90% of the flips that have been done in my market have not been purchased off-marktet. My question is, where are these investors finding these deals?

@Jeff S. I do not have a burning desire to work with this partner. I have always been a loner. The big benefit to having the partner is that it directly connects me with the money I am missing in my business!  This partner has just about limitless funds, and is willing to invest everything with me . Having money available  at the snap of a finger takes a lot of stress out of my business. As I run the numbers though, Hard money is the cheaper alternative but considering with the partner I will have nothing out of pocket, I technically have nothing to loose. My risk in each transaction is minimum. Having a wife and kids that depends on me makes me always want to take the safe side! What would you consider to be a healthy split for a partnership? I bring the knowledge, experience and contractors, he brings the cash...

I have been investing in real estate for many years, have done a few flips which I funded alone and did all the work myself. I have learned that neither of these options are very smart. I know have a great contractor that is going to be handling all of my flips but the issue comes down to financing. I have two options here, option one is hard money. This money is easy for me to get but cost me 12%-18% depending on property and the investor involved. Option 2, I have a wealth investor that is looking to develop a partnership with me. The partner will supply 100% of the funds to purchase and repair home. The split will be 60/40 in my favor. Mind you I bring all knowledge and experience to the table, plus my contractors. Which would you suggest to be the smartest move for me to expand my business?

Great work!