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Updated about 3 years ago,
Newer Investor Looking to Grow + Connect
Hi Everyone, I am a newer investor looking to grow--both in the way of deal flow and in connections. I am resident of New Jersey and bought my first 4-family (in Somerset) last year at 22 and was initially excited to get the ball rolling, but good deals have seemed to be non-existent since. I am hoping to connect with other investors in hopes of identifying more opportunities. Any pointers or general contacts are warmly welcomed.
I am open to both flipping homes as well as purchasing multi-families for buy-and-hold's.
To better gauge suitable deals/advise, here are general notes:
- Age: 23 Years Old
- Location: Live in Central New Jersey
- Income: $115K Net (From Rental Income and Full Time Job)
- Credit Score: 765
- Experience: Own one 4-family. Renovated all units and increased rents 40% to market rates.
- Access to Investor Funds: About $100k (But would need to be able to pay back in about 6 months-year). Total access to funds: $160k
- Preferred type of investing: Flipping single families and/or buy and hold multi-families
I would like to pick up more properties (especially apartments in the 4-12 unit range), but given the fact that most money is investor money, would need to know how to consistently get the money back out to them.
Any pointers and networking opportunities would be greatly appreciated. Would love to pick up 12 or so units over the course of the year. Thanks!