South Jersey Wholesaling

5 Replies

Hey everyone, my name is Doug I’m new here on bigger pockets. Just wanted to introduce myself and hopefully connect with like minded individuals with a passion for real estate investing in my area. Anyone have experince wholesaling by means of assigning off market contracts to cash buyers? Any legal issues doing this in New Jersey? Would love to connect/ talk/ meetup and learn as much as I can.

@Doug Jones so technically you can't market a property that you don't own and that is the wholesaling issue.  I wouldn't worry to much about it at this point in time while you are learning about the business.  

Your strength is that you are local and most buyers looking here are not. I would look for a day job that aligns with the industry.  Also AirBnb works very well and you can house hack this way

@Doug Jones wholesaling is not necessarily illegal in NJ.  The one area to be careful about is how you market your contracts available for assignment.  It is also important to make sure the contract used with the homeowner allows for assignment.  That contract will largely dictate what you are and are not allowed to do as a buyer.

@Kurt Kwart thanks Kurt. I do like the house hacking strategy. Have you dabbled at all wIth student rentals? Stockton Univeristy opening campus here in AC has got to be opening some doors?
@Jonathan Herron thanks Jonathon. Well said. Wholesaling seems to be this huge grey area that varies state to state and haven’t found much valIdatIon for the SJ market other than your responses on BP. Looking foward to future conversations. Thanks again.
Originally posted by @Doug Jones :
@Kurt Kwart thanks Kurt. I do like the house hacking strategy. Have you dabbled at all wIth student rentals? Stockton Univeristy opening campus here in AC has got to be opening some doors?

 Airbnb is better money

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