New RE Agent Starting Out
4 Replies
Giuseppe Longo
Property Manager from Sayreville, NJ
posted 21 days ago
Hello BP Family! I started thinking about RE Investing in February 2020 and realized the potential. I decided to get my foot in the door by getting my real estate license in New Jersey and starting to build myself this way. How did you get started? Looking for any and all startup stories please share yours!
Cody Neumann
from Beaver Dam, WI
replied 21 days ago
I started out January of last year by reading rich dad poor dad. By March of 2020 I bought my first property, rehabbed it, rented it out, and I’m about to refinance tomorrow. I also bought my first flip in November of 2020 and am set to sell that on March 1. I am now a full time investor and realtor. I am looking to break into the multi family space this year and get 4 properties
Giuseppe Longo
Property Manager from Sayreville, NJ
replied 21 days ago
That’s awesome! What was your first property? Also what are the numbers on your November flip? Just super curious.
Cody Neumann
from Beaver Dam, WI
replied 21 days ago
My first property was a single family rental
Purchase price-$75,000
Renovations-$4,000
Holding costs-$10,000
Closing costs-$8,000
Selling price-$143,000
Total spend-$97,000
Profit-$46,000
Giuseppe Longo
Property Manager from Sayreville, NJ
replied 21 days ago
Those numbers look like SUCCESS! Good for you! How are you finding your deals?