All Forum Posts by: Account Closed

Scott Pyrcz I'm a contractor in NYC but I'm planning to moved to NJ in the next few months and apply for my license for NJ state.

Taron Jackson the north and east side is more stable, the south and west side is still shaky.

Wendell De Guzman thanks for the info, I didn't know much about the BLOC because I was so focus on HELOC. It doesn't hurt to have both.

Walmsley Gedeon Scott Pyrcz Newark has potentials, I'm one of the few investors that's see great things in Newark. Yes most properties are gut down jobs and in unpredictable areas were finding a good tenants can be a risky and the rent control can turn off some. But looking at the positive, rent control doesn't apply to all properties, your in the business of making money so let's say you buy property A for $50k multi, renovate it for another $50k, have it section 8 (3 bedroom they pay $1597) and then enjoy the cash flow. NJ tax is high but Newark is not on the high end if you compare to Paterson city, Elizabeth city or the more Rich cities.

Newark is unpredictable, one block is great and the next one is bad. Is great in terms of buy and hold investing but not so great for flips.

Whosealers don't know much, I'm a buyer investors and contractor and when I had tried to buy from them, they think they know everything when punching in numbers in thir PC. I remember one wholesaler said a roof replacement would cost 5.5k! Really? It's $10k minimum, I trust a real estate agents numbers better than a wholesalers. I'm not bashing all wholesalers, I say there's 30% good ones out there but be very carefull with there numbers. Get a contractor and an agent to run thier numbers for you because rookie wholesalers are the worst and they will make up numbers. Again not all wholesalers are bad, only about 70%.

Become a real estate agent is basically the same job title has as wholesaler. You have nothing to lose, I'm not an agent but I see no difference from both. I had purchase from both an agent and wholesaler as a buyer and saw nothing different during the process except that wholesalers make 10-20% profit and agents make 3-6% but as a buyer, it didn't matter to me as long as the deal and numbers were right.

Christopher Aleman his main question he was trying to ask if he himself a non military member can use his fathers VA loan. In military terms can a civilian use a veterans va loan and the answer is no.

Jonathan Safa you have mentors everywhere here but not in the sense of someone teaching you but rather partnering up. Look for an investor in your area here on BP, become partners with one and you'll receive all the hands on training but of course being a partner means you have to invest together on deals a splitting 50/50 but once you know the ropes then you could go solo. The other ways are paying $15k and up for programs or split deals on mentor programs or just learn the everything by reading and experience. I wish their were mentors out there that would say"I would teach you step by step how to succeed in this business hands on" but those mentors are busy making their own deals and balancing life. Learning is costly

"If you can't trust a man by his title, it doesn't seem like you can trust anyone." Statement that doesn't relate to the topic or any of the conversations but ok thanks for sharing.