Deals On Market in NJ

[Account Closed]

Hi Everybody,

I am in New Jersey (primarily South Jersey) and I am looking for advice. I know that everyone typically looks for investing deals off the real estate market. But what are some strategies for finding an investing deal on the real estate market? Beyond just waiting for the prices to go down.

Look forward to hearing your thoughts.

[Liz Faircloth]

Hi @Account Closed,

Great question. My husband Matt and I are very active real estate investors in the Mercer County area of NJ - Ewing, Hamilton, and especially Trenton. We are currently looking for both fix and flip opportunities in the county and turn key opportunities (for investors) in Trenton. I have been reviewing the MLS on a daily basis. One of our latest projects came from the MLS. Here is our process if it helps:

1. Know the area you want to invest in - inside and out - which areas (by street) you want to invest in.  For example, we know Trenton so well, we know which areas to invest in and which areas to stay away from. You need to know this information so  you can act quickly.

2. Get specific with the type of property you are interested in and condition of the property.  For example, for our turn key business, we are looking for single family or duplexes, and we are looking for a value add - properties that are in C condition - not D but certainly not A or B condition.

2. Know your prices.  Know how much you are willing to spend on a single or duplex in  your specified area. What is a good deal in your area for a specific type of property? 

3. Begin to network and build relationships with the real estate offices and realtors that focus on these areas and focus on these types of properties. 

4. Use every opportunity when you inquire about a deal with a realtor to build a relationship and let them know what you are interested in and that you are serious (for real) investors.

5. Follow up, follow up, follow up. I had a short list of 5 MLS opportunities to look into today. I called and left messages AND followed up with an email. I heard from some of them but not all of them. I will call and email them again tomorrow until I hear from them. (Follow up is key!)

6. Do an "expired listing" search for your area, type of property in the MLS. You never know - these properties might be coming back on the market. Everyone forgets about the expired ones.

7. Find realtors who specialize in REOs. There is a realtor who specializes in REO's that we have a good relationship with. I call/email him once a week to stay in front of him. Remember - you want to stay in front of people not out of sight.

Hope these ideas are helpful to you. I am a firm believer you can find deals everywhere - even ones on the market. You just might need to hustle a bit more for them! 

We are based in Trenton, NJ, so please feel free to reach out! We also volunteer for SJREIA and run the SJREIA Central group in Princeton. So feel free to come out and network!

Good luck!!

Liz Faircloth