Starting out

11 Replies

Hello,

My name is Jabari Adams. I am a current high school teacher, teaching careers, African American history and of course, entrepreneurship. I would really like to start my real estate business ASAP! It is something that I have been crazy about and researching for about 6 years. I need to take the first step and I wanted to start with multi family housing, particularly student housing. I currently live in southern New Jersey in the tri-state area. I do not have much to invest myself but I have the knowledge and determination to make this happen for my family. Has anybody had any experience in this area of investing and have advice to give? Anything would help. 

Thanks!

I'm in Northern NJ which is different in some ways.  But you really need to jump into the pool instead of just putting your toe in.  Start networking with local investors, get to know who the cash buyers/wholesalers and landlords are.   

Get on as many wholesaler lists as you can so you can see the inventory of properties out there.  Also start talking with Realtors who deal in the type of housing you are looking for.  

I don't know a lot about rentals but that is where I would start if I was at ground zero.

Hope i was at least a little helpful

@Jabari Adams  my best advice is stay on BP.  Just keep reading and interacting on the forums.  The amount of knowledge and people willing to help is second to none.   I am not familiar with the southern nj market but I do recommend you set your key alerts to "Southern NJ" or your local counties.  Thats how I found this post, I have an alert for every time someones says "New Jersey" If you ever have interest up North I will be happy to help :)

Hi @Jabari Adams  and welcome to BP!

I am from northern New Jersey as well so my knowledge of real estate down south is limited. I would however advise you to search for someone who has experience with student housing. I have never owned any but have heard that it could be a headache when college kids decide to party too much in your building. In any case, I would also recommend you set your keyword alerts for "student housing" to help you meet people who may be knowledgable in that field. 

Regards,

Marcin

Hi @Jabari Adams  I am in Camden County.  Willingboro is a nice place to start, based on the price and availability of real estate there.  I'm getting started as well.  Lets connect!

Welcome @Jabari Adams  I am a teacher as well in Nashville and am in the same position.  I used to integrate investing and entrepreneurship in my Math classes all the time.  Now it is my time to take action. 

Good luck and I will be watching to see how things go.

Great luck. Welcome to BP. I'm originally from Willingboro. There's a lot go good info on past podcast. See you around. 

@Jabari Adams  congrats on wanting to get started with multifamily. I'd  recommend you do the following:

- learn how to evaluate multifamily by reading books and blog posts on BP 

- attend meetups in the area 

- speak to as many people who invest in apts as possible so you learn what they are doing and how they do it 

@Michael Blank  - welcome back!

Medium logo1Joe Fairless, Best Real Estate Investing Advice Ever | http://www.apartmentsyndication.com | Podcast Guest on Show #227

Thank you everyone for the all the information that you have provided. It is very motivating. I'm going to start on this journey ASAP! 

@Benjamin Ellis and @Greg Wake I was raised and currently reside in Willingboro now. We need to try to meet up some time.

I will be looking at all the articles, attending more meetings and setting those alerts. Thanks again!