All Forum Posts by: Yashar E.

Hey @Mayer M. 

I am not sure if somebody already said this, but my advice would be not to post specific amounts of what you currently have (budget wise) on a public forum.  

Hey @Steven Neville feel free to send me a PM on here

Welcome aboard Ben I am sure you will swiftly move towards your goals.  You can count this as crucial step.  Have fun with the "search" tool!

@Account Closed

Welcome to BP @Elijah Voigt 

There are a few local meetups that have been set up lately and of course the SJREI meetup that is weekly.  I am sure someone else will touch on the subject.

The search bar at the top will become your favorite tool on the website, wish you the best and keep pushing toward your goals.

I posted a question a little while back that had some very insightful feedback

here is the link

Hello BP Community,

As I have been researching developing markets lately, I have taken the time to immerse myself within my community that I live in to learn more about my immediate market. I currently reside in Gloucester City and If you are not familiar with this part of New Jersey, it is directly over the bridge from Philadelphia. I have found that it is extremely beneficial to get involved with your city’s community if you want to gain a little extra insight on your own market, and the “5-year plan”. I am lucky enough that my wife is involved as well, I get to hear all the details and the ongoing city plans, discussions, and new businesses and investors coming into town.

For example, there has been a plan in place for years now to incorporate a high-speed rail line that extends from Glassboro (South Jersey) to Gloucester City/Camden area and this would give a more direct line to connect with Philadelphia. As I said, the plan has been in place for many years but being connected with community and attending meetings has led me to believe that there is a high possibility that this will come to fruition sooner than later. With this, there is potential value in the areas that would have train stops. There are a few other plans in the works to connect Gloucester City directly to Philadelphia as well.

Rutgers Camden is another area that is being continuously built on and it seems that a lot more students that attend class on the campus are looking for affordable housing for rent. I have seen the slow migration into Gloucester City in search of these affordable rentals.

We all know that you can never count on all the hearsay to be followed through with and should not put your monies into investments based on speculation. However, paying attention to your surrounding communities and the proposals that are being thrown back and forth can always lead to some ideas; as well as, give you better understanding if plans look to be moving forward. Currently the team I work with works with investors of all levels and at all aspects of the so feel free to PM me with any questions.

I am curious to know if others find beneficial to get themselves involved in the communities they plan on investing in? Don’t hesitate to share your thoughts.

@Anton Gladden Sent you a PM

Have you had success with Gap Funding before? What made you decide to gap lend rather than use that capital as a down payment in your own flip or buy and hold?

I did this before and unfortunately, I was dragged along for almost a year, but then again this was partially due to the borrower and his lack of due diligence (I’ll take blame too for partnering with the individual) but I like to think that the mistakes I had seen wouldn’t take place if the project was under my watch or to the very least the situation would be handled differently.

The properties and deals that I generally see and come across in the South Jersey and Central Jersey areas would need a gap lender that would bring roughly 25 – 45K to the table depending on the area. The payout is usually 15%-22% of the initial GAP investment (although seen others as well). The projects are estimated for 5-6 months turnarounds with teams already in place. 

Your experience?

If I were to do it all over again I would do a live in flip or "house hack". However, I would try and find something where there is a larger gap between the ARV and my all in cost.

I don't know much of anything about your market but as an example, if comps in your area are roughly 100k and over then  I would make offers on 30k-50k properties that need about 20K worth of work.  

If those properties were currently not available to me then I would just be patient and wait for them.