All Forum Posts by: Sebastian Hernandez

Hi Nathan!

This is an excellent question and one oftentimes comes up. I would not say there is or isn't a perfect time to obtain a RE license. I believe this would depend on your goals, dreams, passions and such. For example, If your goal is to be very passive in real estate, then you may want to consider finding a very good investor friendly agent whom can help you and enjoys being devoted to his/her clients. On the other hand, if you love real estate and want to be very active in the business, then perhaps you may want to consider getting your RE license. Some of the benefits of having a license include: more control - will not depend on an agent's time to show you property, more access to databases and comps, potential to earn or save on commission. On the other hand, you have higher standards to follow and restrictions, fees to pay, more liability potential. It all depends on your goals, no "perfect timing" you may want to do it next year or maybe never! your goals and heart will dictate! 

Santiago! best of luck on this journey. To resonate with @Marlen Weber , just being on BP is a sign you want to thrive and I am certain you will!

I am based out of North Jersey as well. I am happy to connect and chat about the market and such. Feel free to dm me!

@Marlen Weber

Roddy, welcome to the BP family!

I totally support your approach! Sending personalized letters with pictures and such is an amazing strategy when starting out because you can connect in a more meaningful manner with potential sellers. Keep in mind, all you really need when starting out is one "yes". There are many marketing strategies but this one is my favorite when starting out. Be sure to be genuine and original on your approach, being you is the biggest advantage of personalized letters. Obviously as you grow as an investor you may have to deviate to other marketing strategies that are more scalable. 

I would recommend you do your research after finding out the name of the owner, look them up on facebook and the web. The more you know, the more personalized you can be. Remember, all you need is one "yes". 

Best of luck!!  

Hi Dan!

Welcome to BP, I love your question. 

The most incredible thing about the internet is that it allows you to gain as much knowledge as your desire. For sure, BP is the right place to be. Listen to the BP podcast, attend RE Events/ zoom calls (BP has some, meetup app has some too). If you can purchase books go for it and if not use your local library. Knowledge is available everywhere, you just have to go find it! 

Best of luck! being on BP is an amazing first step.

Explore the possibility of flipping homes using hard money lenders, cash-out and refinance, then rent the property. 

Good morning Community! 

I am reviewing a deal here is Nothern New Jersey to buy a duplex and in my analysis I find the following. Based on the data gather through Zillow and the tax assessor website, I find that similar properties have sold for $340k and some below. However, there is substantial amount of competition in the area for multi family properties.

Any thoughts/advice on overpaying for a property in a competitive market? The property would still Casflow and I would pay about $10k above asking price so about 350k. 

Really appreciate your help community!! 

Hello fellow BP team members!

I often hear people talk about market cycles, "timing the market", etc. 

Any thoughts as to where in the market cycle we are in??

Thank you!!

I am in the same shoes as many of you, I am actively looking to purchase a duplex in North Jersey but have gotten out-bit by several thousand of dollars. Prices have gone up as supply is low and demand seems to be high. Also wondering how long the home prices will continue inflating. 

Hello BP Community,

I am looking to purchase a duplex in the North Jersey area. However, at the moment the market seems to be very dry and definitely a seller's market currently. Duplexes are barely being posted on the MLS for sale, seeing one or two per month, and does not appear there are many off market per agent. While I understand this is about numbers and being patient, I am someone who likes to find a way to make things work.

Any thoughts on how to play in the market environment I am in? 

As mentioned, this seems to be a seller's market, also not in the game of overpaying and entertaining bad deals for the sake of purchasing a property!

Thank you BP for sharing your thoughts!!! 

tristan, 

As previously mentioned, the fact that you are posting here on BiggerPockets is a great start. I would recommend to read tons of books, BiggerPockets has a great selection of books that will give you a great foundation of knowledge. Also, take the BiggerPockets seminars as they show you different strategies you can use within real estate and give practical advice. Lastly, I will say network, not only here on BiggerPockets but talk to people in your community. You will be surprised to see how much people love to talk about themselves, their experiences as well as the real estate market. In conclusion, use of all the resources available and start networking. 

While I do not know your market, it seems that you have a descent amount of capital to invest. In your journey learning about real estate, I would advice to think about your goals and how certain strategies can help you achieve those goals. For example, one's goal could be to achieve financial freedom, so rental property income can be a great option. Now, there is single family, multi family rentals, there is commercial rentals, etc. The point is, think about your goals and what real estate strategy can help you achieve them. Lastly, not all strategies are great in all markets, so identify which strategy can really work in your market. 

Good luck!