All Forum Posts by: Noel Challenger

The best deals are in fact through real estate agents and wholesalers. This is because we are in front of real estate every day of the week! Don't forget the #1 rule in all things real estate -> "network, network network!"

There is a ton of competition in NJ, I agree with you on that! But, on the flip side there are still deals out there you just need to find them. The MLS has properties that cash flow, you have to act fast on them as they usually go into attorney review under 2 weeks. 99% of the time if you want to buy a multi-family under 200k you are going to have to buy them distressed and/or do some repairs.

Welcome to BP, Adam!

Keep posting and stay active on the forums. You will learn so much from others who are very experienced in what you would like to do. You can also go to your local Real Estate Investor Association meetings to make some very valuable contacts.

Start speaking with lenders (both big banks and the smaller ones) to get a feel of what they would require you to bring to the table. Remember that real estate is a numbers game so if you are rejected by one lender just move on to the next!

Hey Rigo, 

You should look into Commercial Loan Depot. (https://www.commercialmortgagedepot.com/)

Also you can go to the Hard Money Lenders page right here on BP (https://www.biggerpockets.com/hardmoneylenders/new...) to find some more lenders so you can shop around for the best interest rate.

Hey Jennifer,

Your best bet is to find a real estate agent that is willing to work with investors. Then ask them to set up automatic MLS listing alerts that would update you on listings that are new to the market and ones that the price was recently changed. Ask them to do it for you and if they don't know how then keep searching for an agent that would know exactly what you're asking them. Most banks require agents to list the properties on the MLS, so this would be the most effective way to get real time updates on the REO listings in you market. This is important because when it comes to REOs it's really a first come first serve deal and with the amount of competition in New Jersey it makes it even harder to get a hold of one of them.

Also start networking and introducing yourself to the agents that handle REOs in your market. In my market there are only a decent handful of agents that handle the REO listings. They control the inventory and if I wanted to buy a bank-owned property I would have to go to them regardless of the situation. Better to get word of the deal right from the source!

Welcome to BP, John! You should also check out Meetup.com and attend the real estate investment meetups that they post on there. That way you can meet many like-minded people and network.

I use trello.com for exactly what you described. It definitely would be useful for you! 

Here's some to add to your list:

Redfin

RedZone

Homesnap

Handy

HomePath

HomeSteps

HUDHomestore

Google Voice

Shapr

Meetup

Eventbrite

KW Realty (I oftentimes find that the KW app pulls more listings from the local MLS' better than Zillow)

LoopNet

Hey Chris,

I'm an agent who assists landlords in finding and screening tenants. Posting it on Zillow is more than enough. When you post it on Zillow it automatically syncs to HotPads and Trulia. Another honorable mention is the Facebook marketplace. Be sure to take plenty of good pictures on your phone and add the important facts in your rental ad (like who's going to be paying what, if pets are allowed, the duration of the lease, etc.).

Hey @Mau Pan, I sent over a request for us to connect. I am a Realtor in NJ and might be of assistance to you.