I have been trying to find an investment property in Central NJ for over a year. Multifamily, single family with separate living options, etc. looking mainly in Piscataway, Middlesex, Edison area. Had offers in but always get outbid or they chose a cash offer in this market. I feel like I need to find something off-market but not sure how to go about it, does anyone have a property they are looking to sell in this area? How do I find people who would sell to me?
I can help you with homes in Philadelphia metro from investors before they come to the market. sorry, I am not licensed inNJ.
Here are a few solutions:
1) Build connections with experienced wholesalers in your area. Their deals will be lower in price and have much less competition.
2) Get preapproval from a hard-money lender. They'll help shorten your close date and give you the convenience of an offer that is as good as cash.
3) Strengthen your offer in other ways. The fewer the contingencies, the better. If you're worried about the inspection period, have a trustworthy contractor walk the property with you before placing an offer.
Just like @Kim Tonetti , I'm also licensed in PA and operate in Philadelphia. So I limit my work to the state boundary. The market is no less hot here, but you could also try expanding your horizon.
Hey Michael let me know if you need any help I service those areas. Originally from Edison, lived in Dunellen for a few years, flipped a house in Middlesex, and my wife taught in Piscataway for years. I am also an investor so can guide you in that regard as well. Hope to hear from you!