New Member from Jersey City, New Jersey
Hello All
My name is Winnie Mullins, and have a little real estate experience. I'm really excited to be here and looking toward a great future in real estate. 2 two family homes fell in my lap back in 2004 and things were going relatively well until the collapse. One property was in Newark, the other in East Orange, and we did not have the most desirable tenants in most desirable areas, so things went down hill. We (my husband and I) held on to those properties way too long. We short sold one in 2012, the other in 2013, so now, I can jump back in (you know that 2 year period).
Needless to say, experience was the best teacher there, and now that that experience is under my belt, I'm ready to move forward.
So, here I am currently with a one family under contract, want to fix and flip. In addition to that house, I'm also trying to push my siblings with my Mom's house to get that rented at least (she passed in June 2012), but it needs renovation.
Currently a mutual fund paralegal by trade and like what I do, but the prospect of getting knee deep into real estate investing is just so exciting!
Welcome to the community! BP has a tremendous amount of information to help you, but it is only available if you seek it out. Be sure to be as active and engaging as possible. Read blogs, post questions, and the podcasts are gold! The best free education you can get.
Welcome to BiggerPockets, Winnie!
Hi Winnie! Welcome to BP! I have to warn you. You will soon be OBSESSED with viewing topic discussions and catch yourself listening to podcast while doing some household chores! You can get lost in everything BP has to offer. But thats a good thing! BP has changed my life! You stumbled upon the greatest of greats and the best part is... you will never feel alone again. You can post any question or concern on here and get genuine advice. Let's definitely stay connected! I'm a NJ/NYC Real Estate Agent living in Bayonne. I hope to attend a meet-up very soon and hopefully I'll see you there! Best of luck in all of your future endeavours! P.S. Please please do a double check on all of your contractors! I've heard some really bad stories.
Hi Winnie,
Welcome to BP. The property calculators are good tools to use when analyzing the properties you're considering. Glad to see another New Jersey investor apart of the community. Hope to see you at a local REIA event.
Welcome to the community.
"Measure twice, cut once"
By that I mean, do you due diligence. There is no substitute for doing you own homework. No matter what representations others provide, ask for original documents, tax return schedules, inspect yourself. You don't need to over analyze, but certainly, don't under analyze. You'll soon sort it out; just keep practicing by making offers.
If you need any assistance, please feel free to reach out.
Good luck!
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#1 New Member Introductions Contributor
- Solo 401k Expert
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Welcome to BP @Winnie Mullins Find and network with local investors using find feature! http://www.biggerpockets.com/meet
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Hi Ms. Mullins,
Congratulations on making an excellent decision to return to real estate. That is great that even though you endured some stumbles, and noticed some mistakes, you evaluated where errors were made, and are taking great strides in the right direction - to be profitable in real estate! Welcome and enjoy the great knowledge that BP offers.
Stephanie
Welcome!
Welcome back to the real estate investing mentality.
Good luck with your house under contract. How did you come across this flip in NJ? (distressed property or just a good deal?)
I agree with you in renting out your mom's house. You will have to explain to them benefits and risks involved. Make sure you have everything out in the open so there are no surprises which may ruin relationships.
Welcome Winnie to the BP community! I was born and still have family not too far from your neck of the woods(Union City amd Teaneck). I definitely concur with Andrea on becoming obsessed with all that BP has to offer. Stay active and engaged with BP and the sky is the limit for you and your business. Good luck!
Hi Winnie, I hope you had a great experience with the fix and flip. How did it go? I'm based in JC and would love to connect sometime.