Ready to invest in south jersey

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Ready to invest in south jersey

Darshan Patel
Real Estate Agent 路 Sicklerville, NJ 路 Member since 2013 路 65 posts 路 11 votes

Hi everyone

My name is Darshan patel I'm currently residing in south jersey. I been working as a pharmacist for about 1 yr after graduation. It's not as enjoyable or satisfying as when I first started as technician. But I'm hoping to change that in the coming years. I work 87 hours every two weeks, The days I work, I work 14 hours straight. Its Tough but I get full days off which is a positive.

I don't have much knowledge into real estate, but the forums and the articles on here were great for beginners like me.

Current financial situation

I have currently saved about 30k with only 50k in loans.

Have about 4-5k/mo after misc expenses, loan, and taxes to use.

My initial interest is in commercial rental properties, but I hope to start other investment vehicles like multifamily and build my wealth up to invest in commercial. I considered flipping but I don't know much about house repairs, but I'm keeping my mind open to the idea though.

If anyone has any suggestions for me pls let me know.

I have money and time, but lack knowledge.

DVP

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  • Mehran K.
    Investor 路 Wichita Falls, TX 路 Member since 2010 路 3k+ posts 路 603 votes
    13y

    Welcome to BiggerPockets Darshan Patel!

    I think you're making a wise decision getting into REI. How is your credit score? Take some time to learn about debt-to-income ratios (DTI). These will be two of the major deciding factors on your future loan financing.

    If you haven't seen this video yet, check it out! Some tips on evaluating deals: The 50% Rule: How to Quickly Analyze a Multifamily Investment Property

    This might help as well! The BiggerPockets Ultimate Beginner's Guide

    0Reply
  • James Vermillion
    Lexington, KY 路 Member since 2009 路 2k+ posts 路 1k+ votes
    13y

    Welcome to BP Darshan. The fact that you get full days off is a huge benefit! One great thing about real estate is the amount of options available to investors. There are many strategies you can take, so make sure you take some time to figure out which one(s) will help you reach your goals.

    Along with the resources Mehran mentioned above, check out the BP Podcasts, they are interesting and provide some great information (and entertainment). Good luck!

    0Reply
  • Brandon TurnerPro Member
    Investor 路 Maui, HI 路 Member since 2009 路 13k+ posts 路 3k+ votes
    13y

    Hey Darshan Patel welcome to the site! Great to have you here. As others have said, before investing definitely dive into the "The Ultimate Beginner's Guide to Real Estate Investing" and the BiggerPockets Podcasts, and once you have a good idea of the kind of investing you wanna do - then jump in!

    Podcast Guest on Show #92
    0Reply
  • John Moore
    House Flipper 路 East Stroudsburg, PA 路 Member since 2013 路 1k+ posts 路 205 votes
    13y

    Welcome to the BP Family; Darshan these pages should allow you to develop your real estate skills rather rapidly. The pod casts, the library of information and the ability to ask questions that will be answered quickly and professionally is certainly worth your investment of time - which you have. This is the beginning of a new
    adventure for you as well as a learning experience.

    0Reply
  • Troy Sheets
    Developer 路 Philadelphia, PA 路 Member since 2013 路 1k+ posts 路 902 votes
    13y

    Where are you looking to invest in SJ?

    0Reply
  • Darshan Patel
    OP
    Real Estate Agent 路 Sicklerville, NJ 路 Member since 2013 路 65 posts 路 11 votes
    13y

    Thank you all for suggestions. I'll will definitely look into the podcasts. As for what areas I'm interested in nj: clayton and glassboro, but I am looking into other areas nearby like sicklerville just to open up more options.

    0Reply
  • Abdul R.
    Real Estate Investor 路 Piscataway, NJ 路 Member since 2012 路 167 posts 路 19 votes
    13y

    Welcome Darshan Patel. I am from Central NJ.

    0Reply
  • Troy Sheets
    Developer 路 Philadelphia, PA 路 Member since 2013 路 1k+ posts 路 902 votes
    13y

    Darshan Patel I'm sure you'll do well in those areas (IIRC they're great areas for rentals) and Sicklerville is pretty nice, my experience is in the Salem County areas though, can't help you much, sorry! Do keep us updated on your progress!

    0Reply
  • Stephen S.
    Wholesaler 路 Holiday, FL 路 Member since 2013 路 571 posts 路 221 votes
    12y
    Darchan,

    How have things been going since you last posted a few months ago? I sometimes live in Pitman and still own one house there. And I have a friend who buys houses in the P section of Sicklerville. I also have some other RE connections in Gloucester County. As well as a very handy handy-man kind of guy / team that I used to use effectively. I mention all that in case you are still looking for some RE help.

    stephen
    -------------

    Originally posted by Darshan Patel:
    Hi everyone
    My name is Darshan patel I'm currently residing in south jersey. I been working as a pharmacist for about 1 yr after graduation. It's not as enjoyable or satisfying as when I first started as technician. But I'm hoping to change that in the coming years. I work 87 hours every two weeks, The days I work, I work 14 hours straight. Its Tough but I get full days off which is a positive.

    I don't have much knowledge into real estate, but the forums and the articles on here were great for beginners like me.

    Current financial situation

    I have currently saved about 30k with only 50k in loans.

    Have about 4-5k/mo after misc expenses, loan, and taxes to use.

    My initial interest is in commercial rental properties, but I hope to start other investment vehicles like multifamily and build my wealth up to invest in commercial. I considered flipping but I don't know much about house repairs, but I'm keeping my mind open to the idea though.

    If anyone has any suggestions for me pls let me know.

    I have money and time, but lack knowledge.

    DVP

    0Reply
  • Darshan Patel
    OP
    Real Estate Agent 路 Sicklerville, NJ 路 Member since 2013 路 65 posts 路 11 votes
    10y

    It's been a while since I lasted posted anything. Life got more complicated, But now I am prepared to enter rehabbing.

    Currently I got my re license and am with Keller William. I have no college loans or of any kind to pay off.

    Have have amassed about 60k in my bank, waiting to start working.

    I have read the bigger pockets two books on flipping and estimating costs. And lots of articles and podcast.  Been searching meticulously on Mls for properties.

    But so far I have no real experience, so I'm hoping to find someone that I can shadow on their flips, or can talk to. Heck I would pay too just for the opportunity.  Or partner up (or help out), I have access to Mls and can help with searches!

    If anyone in the sicklerville or nearby area is willing please let me know.  

    Since Riteaid is gonna be bought by Walgreens soon馃様, I wanna at least have another source of income in two years. My company keeps saying it gonna be fine; but I tend to be cautious just in case.

    I am also in search of contractors too, any suggestions are welcomed.

    Any good ones to reach out too?

    Even the bad ones, so i avoid them!

    Darshan Patel 

    0Reply
  • Yashar E.
    Real Estate Agent 路 Gloucester City, NJ 路 Member since 2016 路 67 posts 路 30 votes
    9y

    @Darshan Patel  reaching out to see where your path has taken you.  I am from south jersey as well.  Maybe I'll see you around!.  PM me if you'd like.  Take care

    0Reply
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