All Forum Posts by: Parag Shah

Thanks Jonathan! I just reached out to Darren, who was also recommended to me on another thread - guess he must be the guy to know around here!

Appreciate the help!

OK, I just posted a new member intro so please bear with me as I'm still trying to learn the ropes.

I found a multi family (3 family) in North Jersey. Asking price is $50K. Just hit the MLS this week. Rental comps show that total rent roll can be $3200 (2bd/1ba, 2bd/1ba, and 1bd/1ba). House needs TONS of renovations, but assuming it's everything internal and nothing structural (other than siding), let's just say all in it'll be $80K. My rough mental math says this is a killer deal. House comps in the area of similar size go for around $150-170K. I would definitely hold onto this as a buy-and-hold , as I'd be clearing the 2% rule (which is bananas in Jersey).

OK so since I found it on the MLS, I clicked the little button that says "contact realtor" about this listing. In the little comment box I said "I'd like to do an all-cash offer contingent upon inspection, please contact me at xxx-xxx-xxxx". No reply. My question is, now what?

Should I go to a hard money lender (since I definitely don't have $50K, nor the money for the renovations) and show him the deal?  Do I contact any random real estate agent who services the area and ask for them to show me the house? Do I contact this person on the listing again?

Hi all, I'm trying to get involved in real estate investing in my local community (Middlesex County, New Jersey) and have loved reading these forum posts/listening to the podcasts so I figured I'd take up the advice of getting engaged with the community!

I have a close friend who has done a lot of deals, fix-n-flips/buy-n-hold/etc and has utilized BP as well as his local network. I'm trying to dip my toes in this business while holding a full time demanding job in Manhattan. I'm hoping to buy a multifamily property through an FHA loan and rent out the extra units as my first real estate deal. I'd love to then move into buying short sales and doing rehab projects for either flipping as turnkey sales or holding onto them for cash flow.

I'm interested in connecting with people in my local area and hearing their stories on getting started.  It seems like New Jersey is such an expensive market, and the competition is fierce.  Look forward to meeting people, and engaging here with the BP community!

Thanks!