All Forum Posts by: Tyler Drapeau

@Jennifer White Check out the folks over at https://www.activedutypassiveincome.com/. I haven't been involved too much but have read through there info and they are great for military investors. I am assuming you are moving somewhere around Keesler and I am willing to bet someone might still be stationed there. Hopefully this helps!

@Kevin Zolea I did some quick research and it seems to range a large amount. I am seeing roughly $1,000 to $3,000 for a single tortoise. I would see if you could get quotes from anyone else and compare, for sure though. 

@Richard B. Hill Potentially. What areas of south NJ are you working in?

Hi @Anthony Madle, how close to NY are you talking? Where do you currently live and where are you willing to live in NJ? Are you currently renting? My fiance and I are currently living in a house hack in Morris County and all seems to be going well thus far. Feel free to PM me if you'd like to discuss.

@Amr Moussa In addition to sme of the advice above, you should attend one of the BP Wednesday webinars, if you haven't already. Watch how Brandon analyzes a deal. Run your potential deals through the calculator and see if they meet your financial criteria. That would probably be the best way to eliminate deals where the math does not work for you. You'll have specific questions along the way about how much certain aspects should cost and you can reach out to experts in each of those areas (PM, insurance, contractors, etc).

I'd love to attend but I am taking a class after work, Tues/Thurs. nights 6:30-9:30. If any events are on another evening you can count me in.

@Akheem Gauntlett Check out the link below. I was referring to A-D scale, and that the $150k properties are probably in D neighborhoods. I started looking in Union county myself. I work in Cranford, but hardly any multi's pop up there, especially affordable ones. 

https://www.biggerpockets.com/blog/2015/12/09/class-a-b-c-d-real-estate/

@Akheem Gauntlett agreed with Rowens comment above. 

On another note, what is your property class criteria and what area in northern NJ are you looking in? $150k seems extremely cheap for anything C or higher and from what I have been seeing, unless you are looking in Paterson, Irvington, etc. 

@Will Reynolds Like Max said above I would base your offer on cash flow and your criteria. I would try to either completely replace your monthly housing expense (which is difficult in northern NJ) or cash flow $xxx/month per unit. If you follow that criteria and the place appraises what your buying it for, it may not matter there are not comps. I am currently house hacking in Wharton, NJ and looking for another place to house hack in the next couple months. If you'd like to chat please feel free to DM me. 

@Elias Wiscovitch As you can see throughout the forums, house hacking is preached and is a great way to start. If you attend a school where off campus housing is prevalent, it may be a great opportunity. In addition to building up credit, keep a look out for properties and opportunities to house hack, at least in my opinion. I wish I would have bought a property during college and rented it out to my friends. It would have jump started my investing career. If you have any questions about house hacking or NJ in general feel free to PM me.