New investor looking to buy from wholesaler

[Gustavo Deleon]

Title says it all. I was fortunate enough to be able to buy my first house last year. A year later through renovations I now have 100k in equity. Of this 100k I'll be able to tap into about 50k. My question is would it be idiotic of me to look to wholesalers for my first investment? Considering I have no experience, worried I might end up biting off more then I can chew. Thoughts

[Kevin Mantell]

@Gustavo Deleon

It depends on what you are looking for. I am based in Northern NJ (Bergen County) and I do deals all over northern NJ. Are you looking for a SFH or multi family? Are you looking for a rental as a BRRRR or a house to fix and flip?

I have deals come across my desk all the time. It ranges from 150k deals in Newark to fix and rent to 800k deals needing 200k of renovation to fix and flip for 1.5 million.

Feel free to send me a connection request and let me know what you are looking for. I will steer you clear of deals without the potential of upside equity. I know many of the towns in Northern NJ but get deals all over NJ.

Do you due diligence. There are a lot of “wholesalers” in NJ who are sending out deals close to retail and their repair numbers are no where close to what it takes to do a rehab.

Hope this helps