All Forum Posts by: Shannan Bowen

@Cassandra P. Hi! My suggestion would be to take some time to really define what you want. It's great that you are eager to get started but build yourself a firm foundation first. Choose the area(s) you most interested in and learn the market and then narrow it down from there if possible, research what type of properties in them areas are better for rentals. FYI some towns are better for rentals then they are for flips and vice versa. You also want to determine if the profit you are seeking will fit the area your interested in. Also, it's always better to do an form an LLC this way you as a person won't be personally held responsible should something go wrong. I hope this helps!

There seems to be plenty of meet ups in Northern New Jersey, how about South Jersey? 

@James Masotti 

one way that investors are hitting their numbers is that they are using sub contractors and managing the projects themselves. Also, they are using cash which helps save them on holding cost. A key way that a lot my clients are finding deals on the MLS is even when it's over priced, they are putting in their offers. Even if the offer isn't accepted the property is now on their radar, so as the price goes down they can now be the first to get their offer in when it does get to the right price. Most of the time when a property is listed at the right price it's gone right away which is why most people can't find them.

As far as the ARVs go, I found those to be the standard range for those areas. What have you found to be the range? 

@Oleg Shalumov I do not work the North Jersey Market. However, I can ask around and get some information for you.

@James Masotti What Have you found to be the ARV in these areas?

Hi @Craig Conte 

Some good markets you can look into in South Jersey would be Haddon Heights, Haddon TWP, Audubon, Willingboro, Somerdale, Magnolia, Stratford, Bellmawr, Runnemede, Barrington, Mount Laurel, Maple Shade, Berlin, Collingswood, Gibbsboro, Laurel Springs, Merchantville, Delran, Glassboro, Deptford, Mantua, Monroe and Pitman. 

All these markets tend to be in the ARV range from $150k-$200k. Days on market tend to be between a day and 30 days (as long as it's priced right). The average construction cost is between $50k-$90k.

Just let me know any more information you might need.