Newbie from Northern NJ - Looking for B&H

9 Replies

Hi All,

I’m born and raised in Northern NJ and currently reside in Hoboken – a small city in NJ right over the Hudson River from NYC. I've been doing my research - reading books, listening to BP podcasts, and webinars - have my finances in order, and now looking to make that first deal. Thinking buy and hold is the best option given my demanding day job and lack of construction experience. I'm open to really any strategy and still trying to find my niche though. Thinking the less hands-on strategy, the better. Also thinking that the Northern NJ area would be best so it's easier to manage but also open to investing remotely.

Excited to get involved in the BP community and looking forward to learning from all of you experienced RE investors!

Matt

Hey Matt, I'm just starting out too and looking at focusing at Jersey. Let me know if you're interested in JV-ing for a bit on a handful of wholesale deals.

-Billy

Welcome! Well... What's your budget? There's opportunity in NJ, but it's tough to get decent cash flow. Taxes are killing it.

Matthew.. Welcome! I'm in the Chicago area! Looking to network, brainstorm & grow my business! I just joined a great nationwide group of investors that are absolutely KILLING IT! I'm pretty excited from what I've seen so far & to be earning & learning alongside and with the best in the biz! We're looking to expand our network and train investors in other markets.. Message me, let's make some $$ together! 
Steve

@Matthew Cohen Nice to meet you and see that you're ambitious about getting started in REI. I am not on the same boat as you as I mainly focus on rehabbing and developing to sell. I am starting to look slowly into rentals/buy and holds, but right now cap rates don't make sense, with rising property values. I can tell you that the hardest thing to do is getting started, being 19 when I started 10 months ago, but after doing 8 deals collectively with my partner, the only person that trusted me, I must say the ride was emotionally, but it was definitely an awesome learning experience. If you are looking to potentially invest passively into flips, that is something that I think would be a lot easier to get into especially in today's market as the big guys get all first dibs on the properties that are around and then leave all the 80-90% LTV deals to the people below them. Reach out if you have any questions, I am mainly a rehabber so my expertise lies in that field but have experience is all aspects of REI and I can definitely help you out.

@Will Pham Hey Will, you mentioned wholesale deals... Are you a wholesaler? I would be interested in JV'ing if you happen to have something that sparks my interest. Same as I told Matthew, if you have any questions, feel free to reach out.

@Jake Recz There is still plenty of opportunity in NJ, all you have to do is look for it because now if it's on the market, chances are it's a bad deal if it's been on the market for longer than 12 hours. Things are flying off the market... Have to go out of your way and send letters and door knock to look for off market deals.

@Brian Garcia Nice to meet you, great to hear that you are looking to get into REI as well. Lots of people nowadays.

Welcome Matt, I'm also new to investing and BP. I'm down in Robbinsville, NJ. I've joined the SJREI and just engaged a broker to assist me with finding REO properties. My goal is to close on something by the end of the year. Keep us posted.

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