First post and ready to hit the ground running in 2024!

[Bertrand Chevalier]

Hi all,

Im new to BP but super excited to be here.

I’m late 30s and really want to get my first investment done this year.

I’m live in New Jersey in Bergen county. I’m looking to purchase for something in the 300-400k, ideally not too far from where I live so I can drive there if needed.

Ideally I want a multi-family or a small apartment building.

I don’t mind fixing things up and would actually like that. Only issue might be the budget.

I think the two main questions I’m trying to answer for now are: 

1) Do I want to do short term rentals to increase chase flows or long term so it’s a bit less day-to-day work?

2) Where should I be looking? This area is pretty expensive and would like to limit my initial investment under 100k including closing, reno etc.

Looking forward to meeting you all!

Feel free to hit me up if you're from this area and if you know any good REIA to join around here!

Thanks and happy new year!

[Nicholas L.]

LTR vs STR - you'll have to answer that - comes down to your goals and interests.

Where to look?  Draw a big circle around where you work or where you would ideally live and look inside that circle

Look at 50 properties if you can

House hack if you can

Good luck