Investor · Springfield, NJ · Member since 2015 · 10 posts · 1 vote
Hi,
I'm looking for an investor oriented realtor(s) in northern New Jersey area. The particular area I'm focusing on is Bergen County. I would also be interested in recommendations for Springfield NJ area and Highland Park NJ area. This is my first deal, and I'm looking for all the reliable help I can get. Any recommendations would be much appreciated.
BP is full of useful resources such as forums and blogs. Welcome to the Bigger Pockets community-be sure to check out all the awesome BP blogs under “Learn.”
Investor · Springfield, NJ · Member since 2015 · 10 posts · 1 vote
11y
Thanks Mark! The website is excellent, I've been doing lots of reading. I'm also impressed with the networking side, and especially the sincerity of the other users. Thanks for your response.
Kenilworth, NJ · Member since 2015 · 43 posts · 9 votes
11y
Hi All,
I'm working on a flip in Kenilworth right now... Any help I can give you let me know. I am a realtor in Union County area. Work with a couple of investors with updates on listings etc.
Message me when you want to connect. I may have something coming up in Edison soon.
If anyone still needs help, I'm in Bergen County and am willing to answer any questions.
Hi Romeo: Bergen county here as well. Looking for my best option in getting started. I have a very small amount of cash and excellent credit and just about a month of Real Estate knowledge as I have been listening to BP podcasts and investing books for hours a day. I have a small salary as a public school guidance counselor but I'm looking to use the little cash I have to turn it into more cash. Any ideas of how to get started in the Bergen/Essex or neighboring markets/counties? I am looking to start through house hacking since I am so low on cash but I have yet to find a MFR with cash flow potential. I know wholesalers typically look for cash buyers so I'm not sure about that right now. Any suggestions/guidance you are willing to offer?
Flipper/Rehabber · Englewood Cliffs, NJ · Member since 2008 · 34 posts · 9 votes
11y
Hi @Shannon Garces. As you can see by recent posts here, there are many investors in the area always looking for deals (myself included). So in your situation, I say become the wholesaler. It will teach you how to get good at finding deals, help build your capital, and expand your network. Through the wholesaling process, you'll learn how to write contracts, estimate repairs, and analyze deals. This form of real estate really doesn't take much up front cash and is really about marketing/doing the leg work to get deals. There are many different approaches for getting leads but start with your friends and family. It's as simple as asking them if they know anybody who is thinking of selling their homes or investment property. FYI, while most wholesalers are indeed looking for cash buyers, remember in real estate everything is negotiable.
Other than that, you can also start looking into fha 203k type of investments. This type of loan only requires a small down payment and lets you take advantage of discounted properties that need some work. Garfield, Lodi, Saddle Brook, and Hackensack are areas that have abundant multi-families properties that are in lower price ranges. There is one on the market right now in Hackensack listed for $185,000. With 3.5% down (~$6,500), the mortgage should be right about $1500/mo before PMI. I don't know what your criteria is for holding a property but this one may fit your house hacking plan.
Also you can always look for a mentor. They can fast track your learning curve and it really helps to have someone to call when you are unsure about something. Although some mentors may charge a fee, for the right person/situation it is definitely not a bad idea.
Hope some of this helps! Best of luck on your new venture! Please feel free to reach out if you have any more questions.
Hi @Shannon Garces. As you can see by recent posts here, there are many investors in the area always looking for deals (myself included). So in your situation, I say become the wholesaler. It will teach you how to get good at finding deals, help build your capital, and expand your network. Through the wholesaling process, you'll learn how to write contracts, estimate repairs, and analyze deals. This form of real estate really doesn't take much up front cash and is really about marketing/doing the leg work to get deals. There are many different approaches for getting leads but start with your friends and family. It's as simple as asking them if they know anybody who is thinking of selling their homes or investment property. FYI, while most wholesalers are indeed looking for cash buyers, remember in real estate everything is negotiable.
Other than that, you can also start looking into fha 203k type of investments. This type of loan only requires a small down payment and lets you take advantage of discounted properties that need some work. Garfield, Lodi, Saddle Brook, and Hackensack are areas that have abundant multi-families properties that are in lower price ranges. There is one on the market right now in Hackensack listed for $185,000. With 3.5% down (~$6,500), the mortgage should be right about $1500/mo before PMI. I don't know what your criteria is for holding a property but this one may fit your house hacking plan.
Also you can always look for a mentor. They can fast track your learning curve and it really helps to have someone to call when you are unsure about something. Although some mentors may charge a fee, for the right person/situation it is definitely not a bad idea.
Hope some of this helps! Best of luck on your new venture! Please feel free to reach out if you have any more questions.
Hi Romeo: I am so sorry that I just saw this message. Thank you for providing some useful suggestions and insight. I have definitely been thinking about reaching out for a mentor. Though I think I have to wait until the summer when I am off from work and have more free time available.
Also, I have thought about wholesaling but am honestly scared about that process. I think I would want to watch someone do it first.
Real Estate Agent · Emerson, NJ · Member since 2013 · 182 posts · 34 votes
9y
@Zev Bannett, @Altamar Knighton, @Sima Golnabi - Hope your investment hunts are going ok. If you still have questions or need the help of a realtor in Bergen County, let me know.
Investor · Hackensack, NJ · Member since 2012 · 24 posts · 15 votes
9y
Hi All,
Just want to shout out here that I am a local investor and mostly active in Bergen County. I do have open ears to surroundings. I am mostly buy and hold. I am all cash and can close quickly. Looking forward to do business to some of you!
Real Estate Agent · Emerson, NJ · Member since 2013 · 182 posts · 34 votes
9y
@Charles Chang give me a shout if you need any help. In addition to functioning as a Realtor I'm also interested in partnering up on a deal with someone in Bergen County.
Flipper/Rehabber · Union City, NJ · Member since 2015 · 46 posts · 7 votes
9y
@Zev Bannett My husband Kevin is an investor and a realtor in NJ @KevinODonnell We own a multi family in Hudson county and we flip homes in Union county. Please contact him or myself and we'd be happy to help you in your search!
Investor · Wylie, TX · Member since 2020 · 11 posts · 3 votes
6y
I am a local investor focused on Bergen & Essex counties in the SFR flip and MFR buy/hold spaces. Looking for Realtors to partner with. Most purchases will be cash, leveraging financing where it makes sense. DM me if we can work together.