Small time investor trying to scale

Small time investor trying to scale

Member since 2022 · 2 posts · 1 vote

Hello BP community. My name is TJ and myself and my wife are investors in New Jersey. We own a total of 13 units spread out over 6 properties. Some single family, 2 & 3 families. We have been investing since 2019 right before COVID and have been buying about 1 property a year. We are looking for multi families that are in need of rehab so we can scoop up another property at a discount. It seems like the entire investing community is looking for the same which makes it very hard to find good deals (especially after COVID). We are trying to scale our portfolio but seems we’re stuck a bit. Our downpayment and rehab money comes from money we’ve saved ourselves from our jobs. If anybody has any properties that fit my description please send them my way. Also I would love any advice/help from any investors out there. Thank you! 

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  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    1y
    Quote from @Thomas Markowski:

    Hello, TJ!

    First, please read the rules at the bottom of every page. We don't allow "deal making" except for in the CLASSIFIEDS forum. The other forums are for sharing and learning.

    Second, why are you in such a hurry to scale? What are you attempting to achieve? I've seen people buy so many units that they burn out trying to juggle maintenance, tenants, turnovers, etc. You may be much happier with a paid-off portfolio of ten rentals.

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  • Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
    1y

    @Thomas Markowski are you attempting to scale to hit a unit number or is there a cashflow number you need per month? I'd focus on finding your "freedom number" and seeking deeper buys in order to increase your cashflow on the properties you buy vs focusing on the number of units. The market is hot now but there are still deals out there, the key to finding them is relationships. You should be networking, calling, texting and emailing people who may have deals as if it was your full time job.

  • Lender · Newark, NJ · Member since 2016 · 695 posts · 252 votes
    1y

    what areas are you focusing on and how far are you willing to go for next property?

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