Wholesaling in the NJ Market

7 Replies

Hello Good Evening, my name is Eddie Soto and I'm from New York. I'm interested into doing wholesaling in the new jersey market. I'm currently pursuing my new york salesperson license. I'm a newbie ready to take action with wholesaling and also planning to househack in the nj area within the next couple of months. If anyone has any advice on wholesaling and what proper steps to take in such a competitive market (NJ), I would gladly appreciate any tips

Wholesaling in NJ is pretty tough right now. If you want to do well, you will definitely need some cash to burn to develop both sides of the business. There are a lot of bad wholesalers in NJ (and everywhere), but the good ones are consistent with their property acquisition. Most wholesalers have too high ARV and too low repair costs, but if they keep bringing properties they will do well. Wholesaling in NJ requires a lot of local knowledge and market knowledge because the market is so hot. A lot of wholesalers are buying in too high because they don't know the market.

Originally posted by @Eddie Soto :

I'm actually looking for a mentor in the new jersey market whose successful doing wholesaling

Eddie, there are a few Real Estate Investing Associations in NJ. And some of the have smaller groups focused on Wholesaling. Feel free to reach out in a Private Message if you want to know more. Don't think the rules allow me to post links or name organizations here.

 

Hey Eddie,

It will depend as others have said on networking, knowing your market and numbers and ultimately your marketing. Choosing how you will market for off-market properties is crucial - stay consistent and you should have some luck.

Originally posted by @Eddie Soto :

I'm actually looking for a mentor in the new jersey market whose successful doing wholesaling

 

I can help. lets talk later today

Originally posted by @Eddie Soto :

Hello Good Evening, my name is Eddie Soto and I'm from New York. I'm interested into doing wholesaling in the new jersey market. I'm currently pursuing my new york salesperson license. I'm a newbie ready to take action with wholesaling and also planning to househack in the nj area within the next couple of months. If anyone has any advice on wholesaling and what proper steps to take in such a competitive market (NJ), I would gladly appreciate any tips

 Hey Eddie, if you're interested in getting guided to the right steps, let's definitely connect. I've got a mentor of mine who has helped me excel this year(my first 1/2 year in the business) and he's already helped me secure 3 properties and I have 3 more under contract that I am looking forward to closing. There's really no way to go around it, you just have to keep pushing. I also understand that there is this scarcity mindset that is happening right now within investors. I can assure you that that is not the case with what I am experiencing with my mentor. He secured 20 properties himself for his buy/hold properties, this isn't even including the flips that he's done and as you already know I secured 3 myself and have 3 on the way... Most of which we found through two wholesalers who are giving us most of the deals that we are doing right now.