Updated almost 10 years ago on . Most recent reply
Biggerpocketers of the First State
How are y'all doing? Our small and wonderful state is woefully underrepresented on this site. Don't get me wrong. I have my keyword alert set to 'Delaware' and I receive emails ten times day about the best location to form an LLC.
The First State. It is the best. Got it? Good.
A little about myself. I am located in Smyrna currently, working as an electrician. I would like to become a real estate investor and have been educating myself with great enthusiasm, but I have not have the time nor capital to take the plunge. I will be getting married in the next six months and my future wife is gun-ho for this.
Ideally, I would like to landlord in Newark, doing student housing for U of D.
Who else is from the Great State of no Sales or (State) Property taxes, and what are you doing?
Most Popular Reply
@James Sloven I will be honest, it is much harder to find a fixer upper in Newark than it was a couple of years ago. Fewer distressed properties on the market, and much more competition for them. On the other hand, rental demand is very strong, at least for the areas I invest in. I prefer renting to families rather than students, but if student housing is your niche, I am sure you can be very successful in it as well. More work though...
I would advise you to keep an eye on REOs - Homepath, Hudhomestore, etc. Some of them are priced very reasonably but have First Look periods when only offers from owner-occupants are considered. This would give you the chance to bid before 90% of the competition can (many of them with the ability to pay all cash).