Gelt Inc. & GoldKat LLC

Gelt Inc. traveled to Paterson, New Jersey to visit Jacob Katsof of GoldKat LLC. Jacob is partners with our investor and mentor Adrian Goldstein. We have been communicating with Jacob via email and phone calls for the past few months and it was nice to finally meet the face behind the voice. Jacob started GoldKat LLC. at the beginning of this year and has been aggressively purchasing REO duplexes in Paterson New Jersey, generating significant cash on cash returns for his investors.

Jacob gave me a tour of his modest, but growing empire of rehabbed properties. He has acquired 6 duplexes and all but one are 100% rehabbed. After my arrival he wasted no time getting down to business. After a quick 30 minute drive from his apartment in New York city we arrived to Paterson, New Jersey.

The City of Paterson, located on the Passaic River in New Jersey was once one of the mightiest industrial cities of the United States. It has a rich history as the Nation's first planned industrial city, as well as containing some of the country's oldest textile mills and businesses. Unfortunately the past few decades have not been kind to Paterson. The area has been hit hard by the loss of manufacturing jobs. However there is still a bustling community of people that live in Paterson. In fact, it has the 3rd largest population in New Jersey.

Each property Jacob owns is certified for section 8. While he was showing me one of his properties a women was walking by and just so happened to be looking for an apartment that was section 8 certified. Jacob kindly introduced himself, showed her around his newly renovated property, and quoted her a fair rental rate. She walked away with a smile on her face and assured Jacob she would call to rent the unit.

I learned a tremendous amount while visiting Jacob and touring his properties. His success thus far in Paterson New Jersey is a testament to his abilities. We at Gelt Inc. look forward to Jacob's visit to the west coast so that he may teach us a thing or two about his success as a real estate mogul.

Category:

Education

Tags:

• Real Estate
• Geltinc
• Gelt

[twokey2u]

How do u get funding? Do you need great credit and can you get these properties with no money down? I have been trying to get onto rehabs or just real estate for the longest but just don't know where to start. Best wishes with everything. Hopefully I will be doing the sme in 2010.

[stevemasterus]

was that tow truck planned?