Newbie looking for advice

5 Replies

Hello everyone... My name is Christina Caccamo. I am looking for some advice on how to get started in investing/flipping homes. I am located in New Jersey and am having trouble figuring out where to begin. I have a pretty decent amount of cash money to invest but I am finding it tough to find that first deal. I was thinking about trying to find a wholesaler in the area but I am skeptical and do not want to end up picking someone that inevitably doesn't know what they are doing. I would appreciate any recommendations or personal experiences with wholesalers. It seems like wholesalers are either loved or hated. Should I even be considering finding a wholesaler as a start or should I search for deals on my own? Should I join a REIC? Any suggestions on where to begin? I appreciate all feedback.

Thank you
Christina

@Christina Caccamo  

Welcome. Remember this is a marathon not a sprint.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

@Christina Caccamo  

Welcome.  Always great meeting another local Monmouth County investor.  I would definitely look around at all that Bigger Pocket has to offer. Check out the podcasts.   Also all the forums, Don't forget to setup your keyword alerts. Also ask lots of questions. The community is great for sharing experiences.   

To answer your questions I would check out some of the local REI groups in the area.

There is a large REI based in Cherry Hill. They also have a lot of other sub groups around south part of NJ this one offers more education as well as networking. http://sjreia.org/

There is a Sub Group In Ocean County.  Lisa Lopez the Group leader for Ocean County sub group and is a fantastic resource. 

Also there is a new meetup starting next month in Asbury Park.

http://www.meetup.com/Jersey-Shore-Flippers-and-Fu...

This is really about networking. 

Good luck investing. 

Welcome aboard! Everyone has different experiences in getting started. My suggestion is try getting on a few wholesaler lists and see their inventory, quality and professionalism. At the same time call every realtor in your area and find one who understands what you're looking for (easier said then done). 

Also do everything and anything to learn as quick as possible the game of RE. BP forums, Podcasts, books, REI groups, friends, neighbors do whatever it takes!

Nathan

Hi @Christina Caccamo ,

Welcome to the site. I'm also in Monmouth County. I think you're asking some good questions. Wholesalers can be a good option, but you have to find the right one. It's an area where a lot of people try to get their start and although while many will succeed, others unfortunately will not and can give wholesalers as a whole a bit of a bad imagine.

My advice? Learn what you can for now and consider attending a meetup or more. You could meet a potential business partner, or at least learn something new. If you're sure that flipping is the route you want to go great, but if not learn what you can about some of the other niches. Keep an open mind, but don't rush into anything before you're ready.

I would look for a good listing real estate agent that understands investors. I consistently by good profit flips thru agents. Don't ever sign an exclusive buyers agency agreement with an agent. Always list with them after rehab.

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