All Forum Posts by: Account Closed

Aaron, although I've only been to the Bergen County Sheriff sale once, I'm told the Passaic sale is similar with certain subtleties.  I have one friend who purchased and flipped a townhouse in North Haledon which he bought at the Passaic auction and did very well with, but he spent 6 months prior attending regularly and doing his due diligence before he ever bid.  Why not stop by our local meeting next week on 7/3 at 7:00 pm.  It's hosted at the Panera Bread in Paramus (770 Route 17, Paramus).  The group moderator attends both Bergen and Passaic regularly and can give you some insight.

Will do Ryan. I will be there! Thank you.

Well, here's a thread with almost the same title, and the same advice I gave there I will advise here as well:

https://www.biggerpockets.com/forums/311/topics/57...

Keep educating until you’ve narrowed down your path to what best fits your goals and then dig deeper into that strategy. Also don’t advertise having $200-300k cash on a public forum like this. Now you can expect to get bombarded with colleague requests and messages from people looking to benefit from your money. Proceed with caution!

If I had 200-300K, I would just become a private lender and make my money work for me. 10-12% return, you talking up to 36K per year just chilling. 

But you need to evalute what you truly want in real estate. Wholesaling, Buy and Hold, and Flipping are very different strategies and you need to ask yourself why do you want to do real estate as opposed to expanding your other business.

I think it sounds like you have a strong starting position and hopefully a network you can leverage whichever direction you go. 

And I know Jersey is quite a bit pricier than the midwest, but in my market that amount of cash could buy anything from the D class to a larger multifamily (with leverage). I think you'll really just have to sit down, evaluate all the different routes through real estate - are you buy and hold or a big pay day guy? - and then go from there. 

So I guess the best answer is anything! I wish I had that to work with right now ;)