Updated over 9 years ago on . Most recent reply
Investor From New Jersey
Dear BP Creators and Members.
Last few days, i have been browsing thru the Community, Education and Marketplace forums. It has been extremely valuable information. I come from a software services and consulting background. Have been involved in founding and running software consulting companies successfully. I have stocks and other funds where i have been invested in the past as it did not require much of my attention. I buy and hold mindset when it comes to my investments. Real Estate Investing has been on my radar for far too long. I have been sitting on the sidelines for no real reason, other than trying to be the best in my line of software business. With my mindset of buy and hold, I know that real estate investing is ideal for me and my lifestyle. I have a target to close multifamily properties with a purchase price of around a million dollars. I intend to close at least one deal(any market) within the next 6 months. BP has provided a platform for education and networking which i believe will help me reach my investing goals. Since i need to start somewhere, i will start analyzing deals in the central and northern jersey as well as Tampa, Florida area. I am also open to being an investor in any of the syndicate deals that makes sense.
Most Popular Reply
Hi Vamsi,
You have the right approach. Start looking at + 100 units and set big goals. Still, it takes a team and having experienced partners to learn from is key to get off to a good start, experience success, learn from the best and make some money along the way. We closed on a 320 unit in May and have another 296 under contract. Value add is the way to go in the right growth markets (think jobs / pop increasing above natl avgs). If I can be of any assistance in helping or guiding you along w/some ideas to get started, let me know. See some posts from Joe Fairless and some experiences I've had working w/him on syndicated deals. Read some MF books (Steve Berges - Complete Guide to Buying and Selling Apartments and Dave Lindahl - MF millions). Think seriously about a coach that does MF for a living.
https://www.biggerpockets.com/forums/223/topics/31...
https://www.biggerpockets.com/forums/432/topics/30...
https://www.biggerpockets.com/forums/432/topics/30...
Dave