All Forum Posts by: Patrick Martone

@Account Closed yeah 2017-2018 is where I want to flatten the learning curve and position myself to properly scale. 

As I am unemployed I have all the time in the world.  My skillset is the rehab portion and I really do not want to touch the marketing, buying, and selling aspects. In the future I would consider a partner with equal equity to cover those tasks.

What are the benefits of getting a license if I work for myself? I would be willing to endure the process to avoid losing commissions since time is on my side.

Hello Biggerpockets community,

I am a newbie investor looking to make my first purchase in the next 3 months. I will be taking out a Line Of Credit on our current home in addition to my own cash. I expect to have around 250k total.

I am partnering with my father and working full-time project managing the Rehab process.

These are my tentative goals for the next few years.

2017: Buy first SFH flip

2018: Flip fourth SFH, reach 300k in equity

2019: House-hack MHR, phase out of SFH flips

2020: Buy subsequent MFR, bid at auctions

2022: Buy Commercial Property, Participate in syndications

Right now I am looking at properties in NJ as it is easiest. I have I feeling I will end up in PA due to the regulation, taxing, and cost in NJ.

How should I proceed with my marketing campaign as I have not decided on a location. I move around NYC, PA, and NJ a lot so I have a basic knowledge of the surrounding areas. I don’t want to begin direct mail until I am certain of a location.

Would it make more sense to go with an agent?

Should I do a We buy houses post on Craigslist to test the waters?

I would like to go for REO properties ideally?

Any insight on how to proceed with marketing would be amazing! Thank you

-Pat

What are some hot markets in northeast PA? i was thinking of clarks summit, dunmore, and scranton, possibly stroudsburg. I have property in Sugar Run, PA but that is the extent of my knowledge about the state of Pennsylvania.

Do you need to go through a broker for a REO property?

I'm located in Monmouth Beach. There is an REI group called Jersey Shore Flippers and Funders on Meetup.com They meet the first Tuesday of each month I believe.

Best bank for a heloc or credit union in New Jersey or northeast. Right now i have applied to TD, MNT, and a local credit union.

I am interested on the outskirts of Scranton. I hear that they are not friendly to out-of town landlords, so keep an eye on regulation in the long term.

Is this out of city? or out of state? and How so?

I own property west of Scranton. The city is a bit dreary, but it is positioned to improve. I am noticing NY/NJ people migrating to PA top escape high taxes and tenant-friendly regulation.

If it passes inspection then it passes inspection..