NJ - with minimal capitol what's your favored way to invest?

Question

I'm in central NJ and studying for my realestate licence. I have a small chunk of cash that I would like to invest after I get my licence. My day job is 6am-230pm so there's alot of daylight left when I get out of work. What would you do if you had to start from scratch and still work your day job?

Calvin Thomas · Answer

I normally say stay close to home, but if you're in CNJ, it can be difficult.  You're near Freehold, so this may be an option, but NJ is not for the faint of heart.

https://www.zillow.com/homedetails/12-Ann-St-Freehold-NJ-077...

Jonathan Greene · Answer

How small and where in central NJ since Newark is North Jersey? NJ is not a great place to invest a small chunk of cash with the taxes in the more Northern parts and the very low inventory.

Vaughn Smith · Answer

@Chris Baist You got some sound advice here from @Jonathan Greene I wouldn't try to find an investment to fit a small budget. I would take that money and do one of a few things with it:

1-Look for a JV partner to do a larger deal with

2-Keep learning about the market and investing as a whole and sit on the money until you have enough education to leverage it

3-Use the money to set up your real estate business and buy leads & marketing betting on yourself may be the best of the options

Also tread lightly around the leave NJ advice places like OH, Baltimore, even parts of South Jersey can be money pits where ripping off out of towers is a cottage industry.

Chris Baist · Answer

Thankyou, that is my favorite suit! I'm a union worker and I'm usually in safety orange and dirty pants. Moving is not an option for my family and I at the moment. So I have to find a way to make my goals of financial freedom happen with the hand I'm delt. I have an aray of skills that most people do not. Side jobs are few and far between in my line of work but I do currently options trade the spy index when I see the proper entry. It's the source of most of my liquid cash.

Lucas Gallaher · Answer

I am not completely positive where you plan on investing in New Jersey, but here is my thoughts.

With a smaller amount of capital, investing in certain high-demand areas in New Jersey might be challenging due to the higher property prices. Something you can do is, look into areas that are experiencing growth but are still affordable. These markets often offer better entry points and potential for appreciation. Or even attempt to find opportunities in other states, contacting a local real estate agent to look around. Find somewhere property prices are lower, and rental yields are higher. It’s worth researching markets that are known for being investor-friendly.

Kerlous Tadres · Answer

I'm all for getting your real estate license while you are working at your full time job in the beginning! Have you used your owner occupant loan on a house yet, and if not I would try to find somewhere to house hack. Then if you do not like the returns on the house hack/investment you can start looking for out of state opportunities that make sense for you

Richard Loniewski · Answer

There are a lot of investors out there that need additional capital, start networking to find an investor with a property that is willing to JV, make sure you vet their deal well and have a JV agreement in place. It will get you the experience without all the hard work of locating a property and it gets you in the game.

Michael Brattelli · Answer

@Chris Baist Look in the southern counties, Gloucester, Salem, Camden, Atlantic, and house hack a duplex. It’s tough to find inventory that numbers make sense on right now so while you’re looking keep saving because the good deals are not turn key. As far as a brokers license you don’t have to have 35 deals but you do have to show that you’ve been licensed and working full time for 3 years. They want to see a track record of you selling homes not just being licensed for 3 years.

Bernard Joseph S. · Answer

Out of state. NJ like NY is definitely not the best option for newbies or people with limited cash.

Scott Mac · Answer

Nice suit...

I don't know what you do for a living, but you could try burning the candle at both ends.

(one end of the candle) Move into a cheaper way of living if possible, such as rent a room from someone who you have commonality with in some way.

(the other end of the candle) While at the same time picking up a second job. Trying to find something that pays well where the work is easy for you.

Something as simple as handing out golf clubs at the local putt putt golf, or possibly being a waiter at a very high priced restaurant and taking home good tips.

So what I'm getting at is Cash is King. Maybe try to solve that dragon at your door while you have some time opportunity to do it.

Nobody ever went into a deal saying -- I have too much cash.

Good Luck!

NJ - with minimal capitol what's your favored way to invest?

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