Hey There! New Member - Northern NJ

1 Reply

Hey there BiggerPockets community. My name is Alicia few things about me:

1- Wife and Mother of 2 small children

2- Decent about of Debit - $15k credit card debt about 240k in mortgage debt between my house (3BR 2Bath) and our (1BR 1Bath Condo). We break even on our condo for now.

3- Have a full time corporate job

4- Have my real estate license (in referral for now) living in our current flip - have another 2-5 years here, rehabbing while we're living in the house with any extra income we have.

My questions-

1- Where do I start? Should I get a line of credit on my current home? We owe 120k and house was bank appraised in the least year for 230k.. Do I start a partnership?

2- Where do I start, wholesaling, flipping, taxes, money, etc?

Lost and confused in NJ-

Thanks friends,

Alicia

Hey @Alicia N Ragonese welcome to the community! There are lots of very smart people in the NJ market that can help you out. I'm in Jersey City so I only know that market but getting access to cash with low interest rates with a line of credit certainly helps your cause. I would go that route to see if there are some good BRRR houses where you are at or getting into flipping.

Good luck!

Stu Basham

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