1st time investor in NJ....Need advice!

[Nelly R.]

Hi everyone! I'm in the process of searching for my 1st investment property. After researching South Jersey and Philly I decided to shift my focus on the Trenton, NJ area because it looks as if I can get a good monthly return there (and I work in the area). I'd love to purchase a multi-family/duplex but a SFH would be ok as well. Not looking to spend a lot of money ($30-75k max, depending on the method of payment). as I took out a HELOC on my primary home to have access to extra cash (along with a little savings I have). My question is, what method of buying my investment property would you suggest? Should I pay cash for the home if it's cheap enough? Should I use some of the money I have as a down payment and take a mortgage out on the rest? Should I use a hard money lender instead of a bank? Ideally, if I found a home for about $30-40k I could purchase it with cash but wouldn't have too much left for any potential repairs (and of course there would be some). People tell me not to deplete all of my cash and to use "other people's money". I hope my questions make sense! Please let me know what you think. Also, any real estate agents with investment experience on here that specialize in this area? Thanks in advance!