Starting out in Expensive / High Tax Areas

[Dalton O'Rourke]

Hello,

Starting off, local here in New Jersey. Having a hard time finding deals that will cash flow. I am looking into long distance as another option. However, with this being my first deal, id like to be around while learning the ropes. Is New Jersey too saturated with the current rising prices? Or am I looking in all the wrong places?

Looking for any advice!

Thanks !

[Natalie Schanne]

@Dalton O'Rourke - the chance that you will find a good deal for you on MLS right now is low unless it's a short sale or reo. Even those are being bid up. Your best chance is calling for rent properties and asking if they want to sell, or calling fsbo and asking if they will seller finance, or sending direct mail.

I’ve been making a lot of offers unsuccessfully myself too - I just lost a hudhomestore bid. Property is a 5/2 on a busy street in good shape. I would have rented it for about $2500/mo and paid $6000 annual taxes. I bid $160k and the winner bid like 175k. CASH. It was listed for 150k. I never want to bid against myself (being the highest bid and going higher) but sometimes I miss out on a great deal because I want to pay list and list+20 would still be a good deal.