Glad to be a part of the Bigger Pockets network! I'm a recent graduate who'd like to begin building a buy and hold rental empire in northern NJ - with a specific focus on college towns and out of favor markets (e.g. Newark, New Brunswick, Plainfield, East Orange, and Irvington). Would love if anyone could share some of their tools for success for their first deal, especially regarding financing. I have a little over $3,000 saved with excellent credit - are there many loan options for people in my situation?
@Isaiah Green welcome to BiggerPockets! BP is a great place for newbies like yourself to network and get deals done. I commend you for taking this crucial first step in your real estate investing career, and that first step is simply reaching out for guidance.
Through the years, I have perfected and sourced undervalued property for immediate resale. In my experience, starting out buying and holding rental units as a newbie come with a few issues (i.e. landlord headaches). I've had much better success sending out offers to owners directly.
Happy to help further. Feel free to PM me, Isaiah. Once again, welcome and best of luck to you in your real estate investing endeavor!
The only time that you will have landlord headaches is if you are managing the properties yourself. I'd recommend hiring a great property management company to help mitigate your headaches.
I graduated from college last year and would love to help if I can.
$3k saved up is good but not enough to do much. That would be good start for marketing materials for wholesaling.