Ideal property for a landlord or rehabber looking for modest profit.

Address: 116 Cayuga Ave, Rockaway (White Meadow Lake), NJ

3 bedrooms
2 bath
Taxes:  6600.38

Repairs: $35-$40k
ARV: $240k-$250k

White Meadow Lake is a small lake community with kaleidoscope of colors in autumn, the gleam of crystalline trees in winter, the profusion of blossoms heralding the spring and the spectacular summer sunsets, the residents of White Meadow Lake spend their days immersed in beauty. (stollen directly from the town web site)

More pictures:  http://www.ryanpal.com/116%20Cayuga/

This post dedicated to those who have been looking to get into real estate but don’t know where to start.  You have seen all the We Buy Houses, I Buy Houses, Sell Your Home For Cash signs. Perhaps you even researched a little about Bird Dogging and Wholesaling.  For most people, it all stops there.  The next step is the most important, and that’s taking action. Equally important is to continue taking action.  House Hunting (Bird Dogging) is one of the best ways for someone to get involved with real estate or just  make some extra cash.  It’s so simple implement that you don’t even have to change your daily schedule.  It can be as simple as keeping an eye out for potential leads that you drive by each day without knowing.

The reason why House Hunting is so attractive is for a number of reasons:

-Anyone can do it
-It pays very well
-There is zero risk
-It’s an excellent way to get into real estate (if one chooses)

I’m very exciting to announce the launch of LinkaBee.  This House Finder program is a one stop shop for House Hunters in New Jersey.  It’s a complete system that includes training, full system tracking and more.  I encourage anyone that is looking to make some extra money or looking to get their feet wet with real estate, to join.  It’s free to sign up and there’s no obligation at all.  It’s entirely driven by you, we just provide the tools to help you become successful.

Through this program we can  help communities and homeowner’s looking to sell fast in New Jersey.

Sign Up Today…It’s Free!

Address: $135k – Light Rehab – 43 Nevada Dr, Hazlet, NJ

Beds: 3
Baths: 1
Taxes: 3833.04

Repairs:
Roof
Paint & Carpet
Kitchen & bath
Vinyl Siding fix
Drywall & Paint

Another one for my central jersey investors.  Easy fixer upper.

(even I could handle this rehab).

High cathedral ceilings, attic, 1 car garage with bonus storage up top.

Repairs: $25k-$30k

ARV-$250k-$260k

Buy now for $135,000

Cash only!  First $1,000 deposit gets it!

More pictures here: http://www.ryanpal.com/43%20Nevada%20Dr/

$275k – Light Rehab – 51 Balsam Ave, East Hanover, NJ

Beds: 3
Baths: 2
Taxes: 6375.20
Repairs: $25k-$35k
ARV: $370k-$400k

Perfect house for the handy man.   Large lot, low traffic street, oversized family room, large kitchen and more.
Cash only!

More pictures here: http://www.ryanpal.com/51%20Balsam

The ups and downs of real estate can cause mood swings similar to someone who is bipolar.  I commonly refer to this business as an emotional roller coaster.  One thing is for sure, the real estate business is an exciting one. No two days are exactly alike just as no two deals are exactly alike, and even if you have been in this business for many years, you always see or learn something new.

I like to hear when some older investors tell stories about deals they’ve done with a simple handshake back in the day.  That must be something, you know, when a man’s (or woman’s) word actually meant something. Recently I was involved in a transaction which reminded me of the shark-like, underhanded, devious actions that occur in this industry.  Here’s a quick summary of the details:

-I contracted with a motivated seller to purchase her property
-This contract was very open ended (ie/ she could still shop around for a buyer willing to pay more. if she found a buyer willing to pay more, she could go under contract with that buyer)
-Property was marketed heavily through various forms of advertising
-A very interested buyer was found within 1 week
-After setting up an appointment with various interested parties, the interested buyer showed interest and wanted to proceed forward with the purchase

After showing the house, we were discussing details of how to proceed forward.  The buyer had never done an assignment before and felt uneasy about giving the $1,000 nonrefundable deposit.  His lawyer was not a real estate attorney, and was also unfamiliar with an assignment.  [For those of you unfamiliar with a contract assignment, it's one of the most simple transactions in creative real estate.  It involves selling your contract to a third party.] Due to lack of knowledge and experience, the buyer was hesitant to provide the deposit money and lock in his interest at the agreed upon price (this is understandable).

After a few minutes passed, the other interested investors began showing up to view the property.  The buyer, who was eager to lock up the deal, turns to me and says “I’m okay with the purchase price and what you’re making on this deal.  I want to buy it and give you my word.  I just want to go over details with my attorney”.  (He’s saying this as he’s shaking my hand and looking me dead in the eye). I gave him a discount of $5,000 since he seemed serious and ready to move forward immediately.  At this point my inner humanity is kicking in, and despite my business sense telling me otherwise, I say “okay, you seem like a good guy.  It’s a deal.”

This is where the story gets interesting.  During my conversations with the buyer, I was going above and beyond trying to assist him in this transaction since it was his first assignment.  I offered to have his attorney contact me with certain addendum’s that I could add to the contract so we could save time during attorney review (he was in a rush to buy the property).

A few days pass and I have yet to hear from his attorney, nor have I received a deposit. At this point, I only have an option contract on the property that has a close approaching expiration date. The seller is an elderly lady, so I didn’t want to confuse her with too much paperwork. By going out of my way for the buyer and trying to hold his hand through the transaction, I was actually shooting myself in the foot. Another day passes and I start to get the feeling that something was up.  After a few non-answered voicemails and emails, my assistant managed to get the buyer on the phone.  I was assured that I wasn’t going to get “screwed” and how he was a “Catholic church goer”, believes in hell, karma, etc.  I was also questioned about my agreement with the seller regarding signatures and the date.  Apparently the seller showed an unsigned option (the signed copy was mailed to me) to the buyer. Red flags go up at this point and I see a major problem, however, I give the buyer the benefit of the doubt (big mistake).

The following day my option officially expired and I was in the same position as the previous days.  When I get the buyer on the phone, I was no longer greeted with the nice “Christian”, karma believing, “man of god”. This time I was being yelled at with hostility and attacked that it was my fault for the option expiring. As the conversation progressed, I was threatened with “I don’t have to give you anything”, “I’ll have someone else buy it”, “My buddy says to go directly to the buyer and cut you out of the deal”.  These are words you don’t want to hear when you have orchestrated this entire deal and now you’re about to be circumvented by the same person you were trying to be a team player with.

At this very moment, thoughts that would get you 30 years in prison were going through my mind.  Letting my guard down, and trying to be human in this business allowed for an unscrupulous person to make a fool of me.  How could I make such an amateur move?  And then it dawned on me. Feelings of anger and failure were quickly replaced by those of triumph (if you could believe it).  Although still freshly wounded from this low blow action, I did my weekly jog that night with an extremely high level of self-pride. Knowing that I could look myself in the mirror and say that I do as I say.  That I am truly a man of my word.  That my business is an ethical one. I wish I could say the same for other people/companies, but the sad truth is, there aren’t many.  I think there’s something to be said about those old timers who did deals on hand shakes. It also brings great pleasure when working with other partners/companies who share the same work ethic.  This was a very important learning experience, but also solidified the business models that RESP and associates provides.  The experience of this transaction even carried beyond business and into spiritual growth.

…And for those who are curious, I did make a last minute Jedi move to keep my position in the deal.  You didn’t think the Jedi would get under handed that easily did yah?

Repaired Value: $236,000.00
Rehab Cost: $50,000.00

Details
Bedrooms: 3Bathrooms: 1 ½Parking: 1 – GarageLiving Area: 1480.0 ft²Floors: 2Lot Size: 0.18 ft²

Description

ASSESSED VALUE: $284,000
PURCHASE PRICE: $75,000
TAXES: $4867.22
ACREAGE: 0.1837
Calling ALL INVESTORS! Bi-level home in needed of interior repairs, corner lot near lagoon. Could make a great rental. Possibilities for Rehab loans or cash sales only.

SERIOUS CASH BUYERS ONLY PLEASE. Buyer must be purchasing with cash, hard or private money, or line of credit and able to close within (10) days or less. Property being sold “as is”, any and all inspections and certifications, including Certificate of Occupancy will be Buyer’s responsibility. Free and clear title, quick closing offered.

All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.

Make an offer – All (Yes ALL) offers considered!

Address: 222 Hamilton Ave, Paterson, NJ
Type: Single Family fixer upper
Taxes: $6,000
Lot: 24×79

Repairs:  Plenty to keep you busy

Description: Single family home in Paterson.  Bring your hammer or wrecking ball.  This property needs a lot of work, bring ALL offers.  Need to unload ASAP. The liquor bottles on the front lawn come with house purchase.  Any bums or squatters can come with it too (hey you can put them to work).

$99,000 -730 Washington St, Hackettstown, Warren County, NJ

St Paddy’s Day is over, but you can still get lucky!
This 2 bedroom 1 bath shamrock can use a handyman

Purchase Price: 99k
Estimated Amount of Repairs- 20k
Furnace, hot water heater and electric are all updated and new. New kitchen needed along with some TLC

ARV- 165K
Estimated Monthly Rental Amount- $1325
Cash Buyers Only!

More pictures here: http://www.postlets.com/repb/7261942
And no the pot of gold in the backyard doesn’t come with the house
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7 Properties available in various parts of Trenton.

$15k per property.  Buy all of them and receive a packaged deal.

Email for details

North Plainfield – Wholesale Property – $55,000

81-85 Raymond Ave, North Plainfield, NJ 07062

ARV: $135k
Repairs: $30k

Buy now for $55k

Cash Only… Get this before my partner Jeff gets his paws

On it…(yes those are google paws)
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If you’re not on my buyers list for wholesale deals, you can sign up here: www.respnj.com/buyers.php