Hey all! I am a newer investor in the north/central New Jersey area ready to secure my first BRRRR investment multi-family property. I am looking to connect with other local investors as well as real estate agents in the area
Please reach out with any helpful recommendations etc.
@Jordan Peru What questions do you have?
@Shawn Mcenteer Hey Shawn, I have been looking for 2-4 family homes to BRRRR in the union/Somerset/Essex (Bloomfield/Belleville) county areas. Do you know any realtors in the local area which actively invest or have experience with investing that you can recommend? Additionally when using an FHA loan, what are some ways to improve my chances on getting an offer accepted in today's market?
We run two weekly REI calls for NJ area investors. Look them up in the Events under Zen and the Art of Real Estate Investing. TUE night at 8 and FRI at noon. Lots of first-time investors on the calls and plenty of connects. The market is VERY competitive for multis, but a lot of it is about what you are targeting and how you are presenting your offer. If you are going to house hack with an FHA and BRRRR, you need one unit vacant since the moratorium is still on and you won't be evicting anyone who doesn't want to leave right now. You will need to focus, for using an FHA, on very limited repairs and no major upkeep issues because you will never win with an FHA on those, they won't take it because they know it won't pass. Let me know if you have any other questions.