Pre-approved and Afraid

Pre-approved and Afraid

New York City, NY · Member since 2017 · 37 posts · 1 vote

Hi BP Community,

I just been pre-approved for 250-275K and I am afraid of investing in the wrong property (and being out the "game")

I am looking for a multi-fam home (owner occupied) that I could obtain decent rental income. Is it possible for you guys to provide me with 3-4 affordable towns in NJ that I should invest in? 

Thank you in advance,

Mike

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  • Investor · Columbus, OH · Member since 2016 · 139 posts · 136 votes
    8y

    I would focus on where YOU want to live. 

  • Flipper/Rehabber · Lyndhurst, NJ · Member since 2016 · 118 posts · 54 votes
    8y

    Hi @Michael Peralta welcome to BP!

    In real estate, money is made when you buy. Anywhere you decide to buy, just make sure you know the property's value (and pay below :))

    If you need help exploring some areas, feel free to reach out to me. Best of luck!

  • Queens, NY · Member since 2018 · 1 post · 0 votes
    8y

    Investment time horizons typically fall into one of three categories:

    short-term, intermediate-term, and long-term. First of all, decide and be not afraid to take any decision on your real estate investment. According to CNBC report, today home buyers loan applications increased by 4.36% as compared to last year in the same week, but market absorption rate is really low along with the inventory. 

  • Realtor · Paterson, NJ · Member since 2017 · 134 posts · 97 votes
    8y

    Hey Michael, are you currently working with a real estate agent? If not I can be of assistance to you in your home search, check your PM!

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