New Investor from New Jersey

New Investor from New Jersey

Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes

How you doing everyone?

I have been exploring the site for some time and would like to introduce myself. My name is Danny and I am currently living in the Bloomsbury, NJ area as a freelancer that works music festivals. I have been saving my money to buy property as long as I can remember thanks to my Dad. He used to own some real estate years ago and would never let me rent.

Last year a friend of mine mentioned that he flipped a house with his brother using BP. It really stuck with me so I did more research and became a member. Not until my brother recently mentioned that he listened to every one of your podcasts did everything click.

Now I am learning as much as possible and fully committing to becoming an investor with my 3 brothers. We would like to work towards financial freedom to be able to help our big family and many others. We will focus on buy & hold in the Lehigh Valley area.

Due to my current position I am looking for a multi family house hack to get started. One area I am looking is in Denver where my girlfriend resides. Another area of interest is LA due to the amount of work in my industry and the network of potential tenants I have already in place. I also have interest in expanding to other areas such as San Diego and NOLA long term.

I love networking and very happy to see the family vibe here. Looking forward to the journey!

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Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
7y

Hello! @Daniel Gengaro

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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  • Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
    7y

    Hello! @Daniel Gengaro

    Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

    I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

    First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

    https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

    The second is a post that will help get you focused with your real estate investing goals:

    https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

    The last one is a post that will help you choose an “investor friendly” real estate agent.

    There are many agents out there, but it’s important to choose the right one.

    https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

    I love answering questions if you have any! Good Luck :)

  • Real Estate Agent · Allentown, PA · Member since 2016 · 197 posts · 181 votes
    7y

    Hey @Daniel Gengaro, welcome to the forums! It's a great place and there are a ton of people to help you with any of your investing needs. 

    I live and work in the Lehigh Valley market - let me know if you have any questions about the area. It's a great market for NJ/NY based investors that are looking for lower taxes and more favorable landlord / tenant laws. We've recently been getting some Philly based investors coming up here, since that market has gotten pretty competitive lately.

    NOLA is a pretty interesting city. Price points are crazy, but the AirBNB market in the french quarter is killing it there. I took a look at adding a few of those into my Louisiana portfolio, they have such consistent occupancy but the taxes are pretty rough compared to the rest of the state. 

    Let me know if there is anything I can help you with!

  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    7y

    @Daniel Gengaro

    Welcome to BP.

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    Thank you @Brandon L. I will definitely be reading up on those and will ask when ready!

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @David Ribardo thanks for the tips I am sure I will be reaching out to you with some questions in the near future.

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @George Blower much appreciated. Really looking forward to learning this industry and I know I am in the best place for it!

  • Los Angeles, CA · Member since 2014 · 2k+ posts · 515 votes
    7y

    Welcome to BiggerPockets, @Daniel Gengaro. BP is maybe the greatest free resource to help you get started in Real Estate Investment there is on the internet. Congratulations and I wish you a ton of success.

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y
    @Jack Butala thank you I am realizing that more and more each day I am here.
  • Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
    7y
    Originally posted by @Daniel Gengaro:

    How you doing everyone?

    I have been exploring the site for some time and would like to introduce myself. My name is Danny and I am currently living in the Bloomsbury, NJ area as a freelancer that works music festivals. I have been saving my money to buy property as long as I can remember thanks to my Dad. He used to own some real estate years ago and would never let me rent.

    Last year a friend of mine mentioned that he flipped a house with his brother using BP. It really stuck with me so I did more research and became a member. Not until my brother recently mentioned that he listened to every one of your podcasts did everything click.

    Now I am learning as much as possible and fully committing to becoming an investor with my 3 brothers. We would like to work towards financial freedom to be able to help our big family and many others. We will focus on buy & hold in the Lehigh Valley area.

    Due to my current position I am looking for a multi family house hack to get started. One area I am looking is in Denver where my girlfriend resides. Another area of interest is LA due to the amount of work in my industry and the network of potential tenants I have already in place. I also have interest in expanding to other areas such as San Diego and NOLA long term.

    I love networking and very happy to see the family vibe here. Looking forward to the journey!

    Welcome! Why do you want to get involved with REI? And money can't be the answer. Money will most certainly be a by product but it can't be your WHY. What's YOUR why?

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Jay Helms I have many WHYs to getting involved in REI. Being financially free is obviously one of my many goals to be able to do what I want with my time. I would like to help my family and others in my network to learn about this industry. In the event production & touring industry having properties in multiple cities could benefit many people I know. That was always one of my bigger and more long term goals. Now I am learning the techniques that make it possible to do so with creative finance. Furthermore, I love helping others and would like to use my time towards that in other ways.

  • Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
    7y
    Originally posted by @Daniel Gengaro:

    @Jay Helms I have many WHYs to getting involved in REI. Being financially free is obviously one of my many goals to be able to do what I want with my time. I would like to help my family and others in my network to learn about this industry. In the event production & touring industry having properties in multiple cities could benefit many people I know. That was always one of my bigger and more long term goals. Now I am learning the techniques that make it possible to do so with creative finance. Furthermore, I love helping others and would like to use my time towards that in other ways.

     GREAT! Now the next step is creating your goals and then setting investing criteria to marry up those goals and your WHY! 

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Jay Helms absolutely! Getting me even more motivated. Thank you sir.

  • Rental Property Investor · Member since 2018 · 51 posts · 7 votes
    7y

    Hey @Daniel Gengaro have you considered investing in REITs or through online real estate investing platforms? Less of a hassle and much less expensive.

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Account Closed actually I have not but definitely something I would consider.

  • Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
    7y

    Welcome to BP @Daniel Gengaro!

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    Thank you @Odie Ayaga!

  • Rental Property Investor · Member since 2018 · 51 posts · 7 votes
    7y

    @Daniel Gengaro you should definitely look into it. There are so many vehicles, that you should be able to get pretty granular and find exactly what you're looking for. I have 20 years of real estate and finance in my background, specifically with REITs and online investing. Let me know if you have any questions.

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Account Closed I will absolutely be doing some research on it and will reach out if need be. Thanks for the tip!

  • Kevin FoxPro Member
    Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
    7y

    Hey @Daniel Gengaro

    I’d be more than happy to assist with a house-hack in San Diego. Feel free to reach out if you’d like to chat!

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Kevin Fox thank you! I am currently weighing my options on exactly where to start but I will definitely reach out in the near future.

  • Kevin FoxPro Member
    Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
    7y
    Originally posted by @Daniel Gengaro:

    @Kevin Fox thank you! I am currently weighing my options on exactly where to start but I will definitely reach out in the near future.

    Sounds great!

    If historical returns consistently in the top 5 nationally, low vacancy, and quality tenants isn’t enough to sway you to SD on the investment side - I would think that perfect weather year round, a fantastic job market, and the LA lifestyle without the LA attitudes should do it on the personal side.

    Looking forward to hearing from you soon! 

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    @Kevin Fox really twisting my arm there...spot on though! One of my favorite places in the US and I call it my second home quite often. Always wanted to live there.

  • Kevin FoxPro Member
    Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
    7y
    Originally posted by @Daniel Gengaro:

    @Kevin Fox really twisting my arm there...spot on though! One of my favorite places in the US and I call it my second home quite often. Always wanted to live there.

    Just calling it as I see it my friend.

    If you’ve always wanted to live here, why not call it your first home?

    You mentioned LA being a location of interest due to the amount of work in your industry and your network of tenants - San Diego has an exponentially growing festival scene, is within hours from just about every major festival on this side of the Country, and has such a strong rental market that you’d be silly to rely on a network to fill vacancies.

    The choice is yours 😉

  • Bloomsbury, NJ · Member since 2017 · 25 posts · 11 votes
    7y

    Great points @Kevin Fox. My network is even stronger in SD and I have worked many of those festivals you are discussing out there already. I am not relying on it to fill vacancies but I am aware that many friends would gain interest if I made the move. Glad to hear it has such a strong rental market from a seasoned vet and I can always get to LA from there if need be. Would love to get on the phone with you to discuss this even further sometime soon. 

  • Kevin FoxPro Member
    Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
    7y
    Originally posted by @Daniel Gengaro:

    Great points @Kevin Fox. My network is even stronger in SD and I have worked many of those festivals you are discussing out there already. I am not relying on it to fill vacancies but I am aware that many friends would gain interest if I made the move. Glad to hear it has such a strong rental market from a seasoned vet and I can always get to LA from there if need be. Would love to get on the phone with you to discuss this even further sometime soon. 

    That's even more awesome if your network extends down to SD! 

    I know that I'm not telling you anything you didn't already know, just emphasizing the ways SD seems to nail all of your criteria on the head.

    I'll shoot you a PM now so we can arrange a time to chat!

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