All Forum Posts by: Tyler Drapeau

@Manuel Ayluardo I’ll reach out to the title companies I’ve used so far and get back to you. 

@Jerry Holt can you please add me to your distribution list.

@Greg De Sciscio Couldn't hurt to double check the taxes at the site below. 

https://tre-dotnet.state.nj.us/TYTR_TLSPS/TaxListS...

As far as off market deals, I think REI groups and a direct mailing campaign might be the best ways. That is what my fiancé and I are going to try.

Hope this helps!

Greg,

Sounds like you're doing great! I'm looking to move into a house hack in Essex/Union county. My fiancé and I currently leave in a duplex in Morris County and rent out the otherside. It's great. Have you been analyzing deals? Northern NJ is difficult to make the numbers work out great, but definitely want to try and find an off-market deal. I'd love to connect and chat sometime. Keep putting the effort in!

Tyler

@Sam Askar I agree with Peter above. Having gone to school at Rutgers and paid $1,200/mo for a single bedroom apartment I know you can get more than $600 a unit for a nice new build. Where exactly is the property in relation to College Avenue? Is it between College Avenue and Easton? If so, you can charge way more than $600/mo. DM me if you want to talk more about the neighborhood/Rutgers. I should be able to help quite a bit.

@Cristian Grullon Nice job! I have also been checking out the Elizabeth, linden, Cranford, etc areas. Where in PA are you thinking ? Would you manage yourself or hire a PM? The drive to PA from Elizabeth might be far. PM me if you want to talk further, my fiancé and I looked around in the Elizabeth area last weekend

@Alina Trigub Thank you very much!

Ray,

Glad to hear things seem to be taking off for you guys and congrats on the first rental! Thanks for the advice and kind words!

Hope everyone is doing well. I am new to the site and real estate investing. I have worked my way through 25 of the podcasts in the past couple weeks, and cannot get enough. I have not purchased any investment properties yet, but I did purchase my personal residence back in June. I bought a foreclosure in great condition, and ended up getting an amazing deal. I used a VA loan and only paid for inspections, a few quick fixes, and closing costs out of pocket. House has about 60k in equity already.

I want to get into buy and hold rentals in New Brunswick and/or Morristown. I have lived in both areas, and know the markets pretty well. I also know the smart move to get started would be to sell my personal home, and use that 60k to really starting investing. I do not want to do that, I love this house. 

Also I have about a year before I'll be ready just purely based on amount of free time. I work full time, go to grad school full time, I am in the reserves and have to go for training for two months over the summer. Jan 2018 is looking like the earliest opportunity for me to really get serious about investing in real estate. I figure learn as much as I can before then.

The big question for me, and for others I assume, is how will I get the financing? I may be able to save up enough for a down payment in time, but that would obviously depend on the purchase price. I could take out a HELOC or do a lot of legwork and try to partner someone more experienced for the rest. I am not sure what other options there really are available. Any other suggestions? I do plan to take the real estate license course for NJ sometime in between everything else and get that done before 2017 is over. I would love to work with experienced investors and would any necessary work t make that happen.

Thanks for your time and look forward to hearing from you. 

Tyler