Just starting out in Central New Jersey, Freehold

6 Replies

Hi All,

To start, I'm a bit older than what I assume is the usual newbie. I do have a few, hopefully minor, obstacles to getting started, and so need some guidance and/or partnering.

My plan is to start with either a flip or a wholesale, repeating as necessary, until I can graduate to duplexes, fourplexes, and so on. The main goal is, in 10 years (or even less, please dear Lord, please), to have enough passive income for my financial freedom.

I'm happy to be here and I wish everyone, including myself, wealth, success, health, and happiness.

@David Rosenhaus - Hello David! Welcome to BiggerPockets! We are so excited you’re here. There are so many great webinars, blogs and podcasts. As you research real estate, you’ll get more real estate related ads on your Facebook and browser. I would advise you NOT to invest in any guru or mentoring programs since almost all of these exist to take your money (look at all these $25000 checks my students are getting), your program for only $8997 — and deliver little value.

BP Pro is worth it. Joining a local REIA like SJREIA is worth it. SJREIA investment is about $150/year and there are 8-12 monthly zoom calls (will be in person again after covid) on a variety of topics, mentoring. SJREIA has 850+ other local investors in the south New Jersey and central Jersey areas. There used to be a lot of additional real estate chats on meetup com.

Ultimately you will learn the most after you get started. The easiest way to get started is to buy another house and rent your current primary residence if you own. You can usually buy a home with 5-10% down and a 3.25% 30 year fixed loan. Costing a little more money, you can buy using an investment loan bringing 25% down and about 4% interest rate. It depends on if you have good w2, low monthly payments and cash to invest. There are creative ways to make money with low to no money down but I haven’t seen hardly any newbies able to execute these, they just stay in education mode forever and take no action.

Originally posted by @David Rosenhaus :

Hi All,

To start, I'm a bit older than what I assume is the usual newbie. I do have a few, hopefully minor, obstacles to getting started, and so need some guidance and/or partnering.

My plan is to start with either a flip or a wholesale, repeating as necessary, until I can graduate to duplexes, fourplexes, and so on. The main goal is, in 10 years (or even less, please dear Lord, please), to have enough passive income for my financial freedom.

I'm happy to be here and I wish everyone, including myself, wealth, success, health, and happiness.

You are in a good company David!

 

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