All Forum Posts by: Krishna Patel

@Chris Grenzig Thanks for the advice and that was exactly my plan. I just wanted to get familiar with what I'll be getting into soon. If you don't mind me asking, how did you get started. Personally, I'm leaning towards buying a triplex or 4-plex and renting it out. I may choose to live in one of the units to make it easier to manage. My only reservation about renting out properties is the renters rights in New Jersey which allows a tenant to occupy your residence even if they can no longer afford to live there. Have you dealt with any situation like this and how have you worked to resolve or avoid this type of issue.

@Dave Visaya Thanks! I'd like to know what you think of the above question as well.

@Vincent Villani I'm very new to BP, but I've lived in Middlesex county my whole life specifically Old Bridge/Marlboro area which has a large amount of city commuters. However, I'd like to add the commute is 1-1.5 hours from here. For Edison, it really depends where you are looking. There are parts you can have a very close proximity to a train station as well as be close enough to Livingston campus(Rutgers) where college commuters may also be looking at your property. Again this all depends on your numbers. I can provide you with some information about the area just lmk what you wanna know. 

Hey @Tyler Wolf glad to see more people from Jersey! I'm from Old Bridge and I'm planning on doing something very similar. Do you plan on living in one of the units or rent it out entirely? 

Additionally, I agree with Diana that you can't exactly predict appreciation. From what I've read, I've been advised to plan my numbers to hit a cash flow and ROI I'm happy with and any appreciation afterwards is treated like icing on the cake.

Hey Everyone!

My name is Krishna and I'm from Middlesex, NJ. I graduated from Rutgers in 2016 with a degree in Cell Biology & Neuroscience. I thought I was set, but life after college wasn't everything I imagined it to be. I landed a job as a supply chain manager and after a year I left to be a Chemist for a large generics pharmaceutical giant. I started saving up money on the side because I always new I wanted to get into real estate, but I never really took any steps towards realizing my goal.  Even after saving up, I realized that in this area my money doesn't go very far. However, I am still determined to make this work and my plan is to buy a rental property in Central or North Jersey either late 2018 or early 2019 as I would be more comfortable being within driving distance  to check up on things. I am open to other markets possibly even outside of my state, but that would require much more research and it feels a bit frightening. Hopefully, as I learn and create some connections with you all that will subside.

I'm very interested to create meaningful relationships where we both can add value to each other. 

Some of my goals are probably quite similar to yours. I want to create financial freedom to be able to not have to work and eventually purchase multiple properties in other regions of the country to vacation in when not rented.

Additionally, I have been listening to the Bigger Pockets Podcasts and I have to say they've re-inspired my love for real estate.