Home Buying & Real Estate Thread

[mplsdunk]

Idk houses are still going fast here with bidding wars.

I don’t think anything long term is gonna happen once corona is old news.

 

[imrobindahood]

Sister in law, just hit me up... 2.875% on refi, I’m at 4% now

The thing is, do I jump on it or wait to see if it goes lower

Check to see if all the fee's make sense doing it. If it all does I would jump into it asap.

 

[imrobindahood]

It seems like a recession is coming, but Bay Area house market still selling like crazy and theres no inventory. If the recession do come will it effect the real estate market at all? Prices and inventory still crazy for the Bay Area.

What I was told is the next recession would be a Stock Market issue not Housing. Also very low inventory across the whole country and Job Market still kicking butt these days. Prices still sky rocketing here in the East Coast , so

 

[アミーゴ]

This upcoming recession is nothing like 08 - that was completely built off of housing

 

[ballinsam23]

Great market for an investment opportunity in NJ right now.

Lots of NYC residents are also moving down south or to the DMV areas.

 

[nawghtyhare]

for my refinance folks who have amex



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[monstar]

Sister in law, just hit me up... 2.875% on refi, I’m at 4% now

The thing is, do I jump on it or wait to see if it goes lower

Is that fixed or an arm?

If fixed what institution doing sub 3.0

 

[ii flash ii]

Is that fixed or an arm?

If fixed what institution doing sub 3.0

Fixed

Appraisal cost up front is all I need... Finding out the closing cost tomorrow which is going to be rolled over into mortgage

 

[nawghtyhare]

Fixed

Appraisal cost up front is all I need... Finding out the closing cost tomorrow which is going to be rolled over into mortgage

cashed out 570 for my appraisal

 

[ii flash ii]

cashed out 570 for my appraisal

Yup, I think mine is $595... I didn’t qualify for the waiver

 

[cels the younggod]

I’m not


This seems OK to me.

IMO 10k has to be the lowest we accept

That’s what I was thinking.
NJ has a great housing market but the location also is important. A lot of people are flipping in Newark.

I bought my home in central jersey Woodbridge township,it was close to my job in Brooklyn but now that I work in the city it’s a little hassle

 

[turbospartan]

I'm interested in the group

 

[jrp44]

Does refinancing process take quicker then when you first buy the house?

 

[ricardo malta]

Great market for an investment opportunity in NJ right now.

Lots of NYC residents are also moving down south or to the DMV areas.

Where exactly in NJ are you referring to tho? I’ve begun to really understand the markets in Hudson, Essex and Bergen County with a goal of investing in 3 rental properties by end of 2020.

It’s not as fruitful as you would think but the flip market is still pretty enticing.

 

[ricardo malta]

That’s what I was thinking.
NJ has a great housing market but the location also is important. A lot of people are flipping in Newark.

I bought my home in central jersey Woodbridge township,it was close to my job in Brooklyn but now that I work in the city it’s a little hassle

How would central Jerz be closer to Brooklyn than the city? You’d have to go INTO the city then the L train to get out to Brooklyn...

 

[アミーゴ]

Welcome to the game ricardo malta ! It’s addicting man. Going on my 5th property this summer.

 

[nawghtyhare]

Welcome to the game ricardo malta ! It’s addicting man. Going on my 5th property this summer.

stay blessed man

 

[cels the younggod]

How would central Jerz be closer to Brooklyn than the city? You’d have to go INTO the city then the L train to get out to Brooklyn...

Woodbridge is right next to Staten Island. I was working at a NYU hospital in industry city Bk so my commute was like 30 mins door to door. And this was driving

 

[ballinsam23]

It’s not as fruitful as you would think but the flip market is still pretty enticing.

Only into it for the flip, through hard money loans. Its actually better than using your own money as they give you money for the renovations too. Since we're potentially pooling, its not that much of a risk. Interest rate anywhere from 9-11%. You're in it for 2-3 months MAX.

Love the NJ laws when it comes to evictions. Sticking to foreclosed properties in the hoods through online auctions. You can come up anywhere from 20-45k profit in a couple of months easily through flips.

Paterson, Newark, East Orange areas.

Hell I know people who came up 100k in 3 months and quit their jobs.

The absolute hardest part is getting a licensed contractor. The family members who I had moved to Florida. If you have anyone in NJ, we can get this going since we're both in the vicinity.

In a good area, no question renting is the way to go for a long term investment. I cant speak on it too much though because I have no experience in renting. I don't like chasing and these are the areas where you'll end up chasing if you rent out imo.

 

[sole searchin]

Y’all thinking for Refi’s the best time is now? Or it’ll still dip?

 

[freshpairs]

Y’all thinking for Refi’s the best time is now? Or it’ll still dip?

That’s what I’m wondering. I want to wait until it gets lower but also worried they won’t take anymore refi applications if that’s even possible.

 

[206to813]

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[cels the younggod]

Just an update to the ppl that responded...I’m just giving others a chance to check their DM’s. I’ll make the group chat over the wknd.

Coronavirus is affecting our daily lives out there. Everybody stay safe and hydrated.

 

[throwback1718]

Just an update to the ppl that responded...I’m just giving others a chance to check their DM’s. I’ll make the group chat over the wknd.

Coronavirus is affecting our daily lives out there. Everybody stay safe and hydrated.

How do you plan on creating the chat?
Platform wise

 

[nawghtyhare]

id HONESTLY prefer imessage group chat