Advice for a NJ wholesale/flip startup?

Question

Hey BP,

I've been on BP forums for about a month, but this is one of my first posts. 2 partners and I are trying to get an REI startup off the ground and I just wanted to start chronicling the process and hoped to get some welcomed advice. We started off on the MLS, making offers on properties we valued as a flip opportunity. Due to our initial underestimation of the competition in bidding on these properties, we've decided to hit direct mail hard. We are really focusing on direct mail and advertising exclusively now, still hoping for a flip but also strongly considering doing wholesale deals as well. If anyone has advice on how to get in touch with potential buyers for our wholesale properties in Monmouth and Ocean counties (NJ), or finding that first deal, it would be greatly appreciated! After all experience is the best teacher! I will keep our journey well documented!

Thanks in advance,

Keith Gilde

Odie Ayaga · Answer

Welcome @Keith Gilde! If you look around the forums you will probably be able to identify a good REIA in your area that you can check out. I would say start there. We're just starting up to and that's the road that all my research, reading, and listening has led me down. Until then, set up some keyword alerts for towns in your area and learn as much as you can on here.

Andrew Jenkins Jr. · Answer

Welcome to BP I am a wholesaler in the NY/NJ area. First I would say is be patient keep looking in the all areas mls, direct mail and so on. Second do you have a R.E agent that knows the areas you would like to invest in. A good R.E agent that understands the needs of investors can be key to our success. They can also direct you to fisbo's, reo's and off market properties they may have not everyone will answer your mail even thought it will work over time. If you don't know any I would say keep asking around there are plenty of agents on BP that I'm sure would be glad to help you. Or you can go to a meet-up in your area and ask who is a R.E agent and start from there(meet-up.com). It takes time to find a good deal where the numbers are right for you. You will find your deals and have plenty of work to do jersey is a great market and I'm sure everything will work out for you soon. Good luck with everything.