Seeking an experienced real estate agent with investing experience, to work with me in landing my first deal in the New Jersey multi-family market.
@Sade' McIntosh - you don’t need an experienced agent to get you into a duplex. You may need a miracle. There seem to be 40 buyers for every house nowadays. Unless it’s crazy overpriced and/or poor condition. Good luck to you!!!
@Natalie Schanne Ha! Thanks for your feedback Natalie.
@Sade' McIntosh best you try to find an agent once you have a better idea as to where it is you have an interest in investing. NJ is pretty big (not Texas big) so many agents will be limited by geography and MLS access. Always find out what MLS' they're members of and how far of a reach they have, in addition to their direct experience in real estate investing themselves.
The best thing a real estate agent in NJ can do right now for you is to preach patience, as well as carefully sorting through back-on-market deals and constantly assessing if there is value in the deal as a house hack or straight investment. You do want an investor-friendly agent in a market as hot as this. A regular agent will be clueless and have you overbidding on negative cash flow properties.
This is crazy seller's market with properties being bid up $10k's. Its not a great time to invest because you will be buying at the height, and you will be going crazy trying to find something since inventory is so low.
@Darren Sager thanks so much Darren for the advice. Much appreciated!
@Jonathan Greene Got it-thank you! I thought about it and realized the importance of working with an investor-friendly agent. I’m working with an agent now but don’t like the results I’m receiving.
@David M. I see, thank you! I realized how the prices in the NJ market soared between October last year and now. It’s crazy...
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