New member from NJ!
Hi, new member here from Northern New Jersey.
This is my second go around investing in real estate. I started in '07-'08 as a passive financial partner on a few flips, but stopped as I was also starting a different business venture that grew much more than anticipated. My 15 year professional corporate background is in finance and also sales/marketing. My recent business venture has taught me that I am a serial entrepreneur and at the same time miss the creativity of REI.
Currently, my long term goal is to ultimately hold a rental portfolio. In the interim, I plan to get there by:
1. Wholesaling: Since you make money on RE when you buy, it is essential to my strategy to direct market and find the best deals possible directly without middlemen. My goal is to be able to market effectively, find a constant flow of potential deals and learn the mechanics of the deals. While I understand that wholesaling is less risk and less capital required, I do have a substantial marketing budget.
2. After I have become proficient at sourcing and selling wholesale deals, I am looking to partner with a successful rehabber in my area to teach me the fix/flip portion of the business with my own generated leads. I am hoping that partner is a customer of my wholesale deals, so that they have a vested interest in helping me.
3. After I have cut my teeth learning the business from a partner, I plan to start eyeing properties to accumulate. At the same time, I plan to continue wholesaling and flipping properties as they fit me.
While I ultimately hope to do this full-time, my goal is to do part-time for at least the next 2-3 years. I have read 1000's of posts here so far (and they've been a great help!) and numerous RE books.
On a different note, I used to attend GSREIA. It doesn't look like they are still around. Can anyone recommend a good REI club in NJ?
Thanks,
Brian