All Forum Posts by: Jon Goehring

@Gary Parilis thanks for your reply, that’s encouraging to hear.

I think the market will stay hot for at least the remainder of the year and that’s the only reason that I brought up trying to do a flip but I get what you’re saying.

If it doesn’t matter if you buy at the top of the market when doing a buy and hold since you will eventually gain equity over time and also benefit from paying down the loan, then is it also not a big deal if you overpay by $20-30k just to win the house?

I'm currently in search of my first real estate purchase in northern NJ. My girlfriend and I intend to use an FHA mortgage to buy a multifamily house. We have made around 10-15 offers so far and we actually had one offer accepted but the seller backed out after a month because he couldn't find a place to go. For all the other offers we have been outbid even when offering above asking price.

Obviously the market is really hot right now and some may even compare it to the market of 2006-07.

Im curious, for anyone who purchased a house around 2006-07 at the top of the market, do you still look back today and have any regret about buying at the top of that cycle? Do you think your investing career would’ve looked any better or worse today?

I know people on this site always say good investors buy in up markets and down markets but I’m thinking how much longer can this last? Do I just keep saving up money and wait? Maybe try to do a quick flip instead?

Sunny Burns thanks for sharing! Definitely interesting, I'm looking more into it now!

Michael Swan I love your story, very inspiring! Thank you for sharing!

Matthew McConville I'm in the same boat, I live in northern NJ and with the high property taxes on top of the high prices I'm starting to look at other areas of the country while still keeping an eye out in NJ. On the flip side if you can find a good deal in NJ, the appreciation potential is greater than in a lot of other places and the rents are relatively high.

Kevin Marcelino I've been looking at Newark for a lot lately, I really like ironbound area. Harrison is also great, in my opinion, but with all the recent development there, prices have shot up and not many deals available right now.

Ultimately I would like to have $40k a month net but shorter term I would like to have $10k a month cash flow within the next 3 years.

@Darren Sager I will be there!

Shea Spinelli I do not have any section 8 properties but it's definitely on my radar.

Shea Spinelli im definitely interested in section 8 as well. Two upsides are guaranteed money and also the tenant will most likely take decent care of the unit because if not then they risk losing their section 8 eligibility.