All Forum Posts by: Candi Rivera

Agree with Tyrone. South Newark area I would stay away from. 

That's not a "problem" it's a good thing in wholesaling. Owner may have more motivation to sell BECAUSE he/she lives out of state and no longer wants to manage the property. Have you already spoken to the owner?  If not,  your first order of business is to pick up the phone and contact the owner and get information about the property to determine whether in fact 1) they are a motivated seller and 2) worth it to pursue 

Thanks for responding @Shannon Covington @Ryan GoldfarbI feel like I'm having to pull teeth in terms of him giving me the very specific location of the property and I can't understand why that is if he's really looking to sell.  I completely agree with you that in Newark this can vary block by block. All he told me was that it is in the lower Roseville area. Not sure if that helps if at all. 

You control the property with a contract. That's the whole purpose of putting it under contract so that the seller does not/cannot sell to someone else during that specified period. Have you located buyer?  

Hi everyone,

I received an informal text message today from an acquaintance who's wanting to sell a 3 family investment property located in North Newark area. 

I've asked him to send me specs and pictures of the property and all he sent me was that it has two 3 BR/2 Bath and one 2 BR/1 Bath. 

Asking price is $200K and according to him the house does not not need any repairs. Approximately $4,000-$4,200 p/ month in rent. Here's the only picture he sent me. 

I'm new to REI so wanted to get a feel if there's anyone who invests in North Newark, who would be interested in even taking a look at the property considering the "limited" info OR what other information would you need to even consider this a possible lead?

DON'T DO IT! I'm currently in the program. I WISH I would've found BP before going to that seminar. You can learn everything for FREE on BP. That software is not user friendly, it is complex. Am still trying to figure it out. 

Shouldn't the offer cover the remaining loan balance? I agree with Tim, I don't think there's enough spread for this to be a deal. 

Hi @Kino Elliott and welcome to BP. I'm certainly no expert (yet) but I'm also starting out in wholesaling. A few ways to generate leads..you can target out-of-state landlords (you can visit tax assessor office for this), probates (county surrogate office), expired listings (work with a Real Estate agent to obtain the list), delinquent property tax list (tax assessor office). You can also generate leads by posting ads on Craigslist & also to search for buyers. Attend local REIA meetings and network network network. In regards to a website, I don't believe it's a MUST when starting off. It can be useful but think most importantly is doing your marketing and finding the great deals. Best of luck!

Hi @Karl Krentzel, just listened to the podcast. Great info! 

Is there another link to purchase/download the script book? 

Hi @Raphael Gomez, thank you. I've already started to see a couple of homes in the North Newark area that appear vacant/abandoned. I've driven passed these homes a hundred times and never noticed, but now that I know what to look for I do see tat there is a lot of opportunity in this area. And lets definitely chat sometime.