New to investing, living in New Jersey

New to investing, living in New Jersey

Sidney JohnsonPro Member
Member since 2024 · 11 posts · 5 votes

Hello! New investor here. I'm in the beginning stages of my RE investing journey and I'm here to begin networking. I would love to connect with some people, especially those with experience! Any input, advise, suggestions, cautions or tips on investing in New Jersey would be greatly appreciated. I'm currently spending time learning as much as I can from various resources including books here on BP, accumulating capital and structuring my strategy. 

I am also considering changing careers and becoming a real estate agent and would like some input on that. I have been working as a Mercedes-Benz Technician for over a decade now and I feel my earning potential has capped, especially with how the industry has changed for technicians over the years. As a technician I am familiar with the "feast or famine" mindset, self managing & organization, and how my personal effort impacts my income. Becoming an agent is attractive to me due to the earning potential, relationship building and flexibility. I was hoping to receive some realistic feedback on the "flexibility" aspect of the work. I understand the more clients you have, the busier you are. I guess I am trying to understand is how much of your life are you sacrificing as an RE agent. How does one manage this work/life balance? Any input would be great! 

Thank you!

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Shawn McenteerBusiness Member
Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
2y

HI @Sidney Johnson.  House hacking is  great way to go.  You sound a bit like me when I first started investing.  I was a carpenter installing floors, never was satisfied knowing overtime was really the only way I could earn more.  I ended up getting real estate license (while still keeping my job) grew the real estate business and continued to buy properties. Today I am full time real estate.   I would strongly recommend keeping your current job at first and no matter what anyone say regarding you needed to be full time in real estate to be an agent I will let you know its an absolute lie.  It all comes down to systems and you absolutely can  do both RE and be a technician. 

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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y

    I am speaking at a meetup in JC this coming TUE (9-24) called Elevate and then I run meetups the first WED of every month in Northern NJ, WED Oct 2 is in Fairfield. You can find it by looking up Zen and the Art of Real Estate Investing in the forums here. These are great ways (any meetups are) to meet investors and talk to investor friendly agents to see if the career change is worth it. Lots of us have our licenses, but committing full time to being a realtor in today's climate would be very hard as it's commissions only.

  • Sidney JohnsonPro Member
    OP
    Member since 2024 · 11 posts · 5 votes
    2y

    Thank you for your input, Jonathan. I cannot find information on the meet up in JC. All I see is for one in Fairfield. Could you provide that information when you find time? Thank you.

  • Realtor · NJ · Member since 2024 · 19 posts · 4 votes
    2y

    Hi Sidney! Welcome to BP :) I'm a realtor in NJ and bought my first investment property earlier this year. Our company specializes in full-service property management & construction aside from sales as well, so we work with a lot of real estate investors. NJ is very tenant friendly so keeping up with state & municipal requirements are very important, thoroughly screen your tenants, and I always recommend keeping a paper trail of everything. Lots of opportunity to do well here! 

  • Sidney JohnsonPro Member
    OP
    Member since 2024 · 11 posts · 5 votes
    2y

    Hello and thank you! Congratulations on your first property. My goal is to buy my first within the next 1-2 years and house hack the property. There is so much to learn and I am grateful for your reply. I will keep these tips in mind moving forward. Thank you, Maddie! 

  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    2y

    HI @Sidney Johnson.  House hacking is  great way to go.  You sound a bit like me when I first started investing.  I was a carpenter installing floors, never was satisfied knowing overtime was really the only way I could earn more.  I ended up getting real estate license (while still keeping my job) grew the real estate business and continued to buy properties. Today I am full time real estate.   I would strongly recommend keeping your current job at first and no matter what anyone say regarding you needed to be full time in real estate to be an agent I will let you know its an absolute lie.  It all comes down to systems and you absolutely can  do both RE and be a technician. 

    House Hacking New Jersey561 Reviews
  • Sidney JohnsonPro Member
    OP
    Member since 2024 · 11 posts · 5 votes
    2y

    Thank you, Shawn. This is powerful insight and it gives me hope! I’m curious, how long was it before YOU reached full time real estate status? It’s always interesting hearing about peoples personal journeys!

  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Sidney Johnson

    Real estate investing in New Jersey is a diverse field with various market conditions. To start, research local markets, and understand property taxes, rent control, and cash flow. Network with local investors and learn financing options. Becoming a real estate agent can provide access to deals and market trends. Balancing work and income requires using systems like CRMs and time blocking. Recommendations for career transition include speaking to agents, exploring brokerage firms, taking classes, and using resources like books, podcasts, online communities, and mentorship.

    Good luck!

  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    2y

    @Sidney Johnson I got my license over 10 years ago.  The majority of that time I was using it for personal gain, buying properties essentially for myself.  Along the way I would help friends and family.   Once I made the commitment to go full time it did not take long but the majority of the time I essentially just had my licenses closing deals here and there.  Happy to chat more off forums to really dive deep and learn more about what you are looking to do.

    House Hacking New Jersey561 Reviews
  • Sidney JohnsonPro Member
    OP
    Member since 2024 · 11 posts · 5 votes
    2y

    @Wale Lawal thank you for your input. These are all valuable tips I will apply on this journey. There is so much for me to consider so I am grateful for your perspective! 
    You seem to be familiar with New Jersey. Do you own property here  yourself?

  • Sidney JohnsonPro Member
    OP
    Member since 2024 · 11 posts · 5 votes
    2y

    @Shawn Mcenteer 

    Thanks for the reply! This would be great. PM me your preferred method of contact!

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