All Forum Posts by: Alex Wang

Some of my friends call me Al as well lol. Welcome to BP, I am a new member as well and also from jersey. I just bought my first property in Newark around the college campus area. I have a lot of friends in Jersey City and I have one in particular that has very good knowledge of the heights area. Hes been trying to get me to invest there as well, But for now I am sticking to the areas I know, which is Newark. GL and hope we can work together in the near future.

thank you everyone for the response.

Hey Ankit. Were practically neighbors. We should bounce some ideas in person some time

Hi guys. I'd like to introduce myself really fast. I just recently heard about this site from a friend. I have been reading a lot of books on real estate investing for the past 6 yearsand even took a rich dad personal coaching course. I just graduated from Rutgers Newark in Jersey and am looking to be a full time real estate investor. I just bought my first 2 unit house right next to my school with a loan from a family member since I could not get a mortgage. The house was paid in full and i got a sweet deal for it. I have been eyeing the neighborhood for quite some time and I believe things couldnt have worked out better. The property has 2 3br 1b units and also a big basement which i am in the process of turning into a 2br 1b apartment. So far this place is generating a little over 3,000 per month. My dilemma now is this. Since the house is fully paid off I have been trying to get a home equity loan so that I can buy another property but since i havent been able to show personal income for past couple years because I was in school, I cant get a loan. what should my next step be?

by the way I just bought the house in december of 2012. I transferred the deed to an LLC ( which now makes any loan a business loan).

My vision is to buy 3 to 4 multi family investment properties before buying my own home and starting a family.

Any advice would be greatly appreciated. Thanks