Business Owner · Astoria, NY · Member since 2014 · 28 posts · 2 votes
Hello Bigger Pockets Family .. I have this account for a while ,But I was a little busy with another Project ... I like to start Investing this year 2016 in Real estate ..
I m looking to network with well experience Investor here..
My goal is to purchase Single Family Property Under 10- 30K in New Jersey area ( Hardworking community Class) to Rent it out $750 to $1200 per month
If you are a Wholesaler or Real estate Agent with experience in Investing feel free to contact me maybe we can work together ...
Right Now I am looking In Trenton, Newark,Irving NJ if any one knows or have any info to share about this place I would love to hear from you . My main thing is cash flow right now
I do not mind in Doing a Little bit of Rehab if the Price is Right
Hello and welcome to BP and admitting your membership time. As long as the numbers are good you can get anything. Besides the good numbers and if it has a good deversity and a growing population. Do not forget too use all possible expense you might face. Your experienced and trustworthy Inspector can tell you what to expect with capital expenses. Leave yourself an out clause per the inspection time allowed. The future look In that area would help your decision. I am 59 years old and I found BP about 6 months ago and I am still trying to decide what to do. I have been in the construction business since I was 17. I graduated from college with a business degree that was emphasized in real estate. The same year that I graduated college, in 1980, I got a broker license. If you think I can help you please contact me at BP at any time. Good luck!
You don't have houses at the price point of 30k in Irvington and newark arleast. I don't know about trenton but highly doubt.
Even if you found one be ready with a rehab cost of atleast 100k.
I think you meant 10-30k under market value.
Even the worst desirable neighborhoodso of Newark are not going cheap just because investors are still buying and due to some positive economic development initiatives the perspective on Newark is kinda high right now. Good time to get in.
Hello Kunal Mishara Thank you for your 1 % tip here ... But I passed 2 deal 1 in Newark and 1 in Irvington on my Price range last year .. and yes they do have some type of Rehab need
But deals are out There we just need to have right source and right people by us ...
I invest alot in those areas and the only deals at that price points are ones that have been sitting on the market for months and months meaning most investors have passed. There arent many 1 families in general in Newark but there are more in Irvington. That being said these houses are likely to be in awful maybe even unsaveable condition. And Irvington is a terrible city to be a landlord in. If i were you id partner up with someone and look to buy a 2 family in a stable part of Newark for a bit more money. Irvington and the worst parts of Newark arent worth the headaches. And your do better with a 2 family on a rent/square foot basis with a 2 family.