Hello from NJ! 👋🏼

[George Martin]

Hello all! My name is George, and I’m brand new to this world of real estate investing.  I have been listening to Bigger Pockets for quite a few months, and feel like I’m ready to dive in head first.  

A little backstory.. I'm in the early stages of a divorce.  My ex and I sold our primary residence in mid December, and I have been renting ever since.  Now that I’m ready to get back into home ownership, I’ve decided to take this opportunity to acquire my first rental.  

I’m planning on finding a property in my area, living in it for a year while doing some minor improvements, then renting it out and repeating the process 😁.  I’m excited to learn from everyone here; I’ve already picked up on some priceless tidbits.

In the meantime, I have come across a potential investment opportunity on a property that I wouldn’t have time to rehab.  In sending me links to potential primary residences, my agent sent me a property that’s on a double lot and in distressed condition.  Attached, were the blueprints for the potential rehab on the house.  It would convert the existing structure from a 2 bed 1 bath, to a 4 bed 2.5 bath, adding an additional 2000 square feet of space.  Smaller, outdated homes down the street have sold for significantly higher than what I estimate the total cost of the job would be.  

Advice on who I should talk to, to see if this is actually a deal worth looking into?  I wouldn’t be able to cover purchase and rehab costs right now, but I’d love to find someone that can. I want to learn the systems that go into these types of projects.  Ideally I’m hoping to find a mentor that I can really learn from.  

Thanks everyone for reading this far! I hope to connect with many of you in the very near future 😁😁

George