New Member from Bergen County NJ

[John Yarenis]

Hello there BP group.  I'm a new member to the site and forums.  I've been following the forums for a number of weeks now and found it all from the podcasts (when I can listen to them).  That's my introduction, now to me:

I'm a Corporate Finance & Accounting, born & raised in NJ.  I inheirited ownership shares in an S-Corp that owns a small retail strip site (~14K SF).  I am a fan of the Buy & Hold strategy as I think it will help me with reaching the goal of a) Generating enough cash flow to provide security for my financial future and b) Provide additional income for my retirement.

While I'm currently involved with retail real estate, I'm more interested in multi-family residential real-estate; ideally the 5-25 unit properties.  I know that NJ is not the best market to invest in, but it's the only market I know :(

I'm most concerned with obtaining the financing and down payment for that first property.  How would my current situation help/hurt me in making that first (and possibly subsequent) purchase? 

Thanks in advance

[Dmitriy Fomichenko]

Welcome to BP community @John Yarenis  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Wishing you the best! 

[Jaren Barnes]

Welcome!

I'd suggest starting off with the following resources:

1.http://www.biggerpockets.com/starthere

2.http://www.biggerpockets.com/files

3.The Ultimate Beginners Guide to Real Estate Investing

These are really great places to get immersed in the benefits and tools of this community!

If you ever have any questions feel free to reach out to me any time!

[John Yarenis]

@Jaren Barnes Thanks for the link for meet.  I'll take advantage of it.

[Brandon Turner]

Hey @John Yarenis thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.

Seeya around!

[Edward Synicky]

@John Yarenis 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

[Joe Fairless]

@John Yarenis sounds like you've got a solid start already. The lender is going to look at the property's performance, your liquid assets, your proximity to the property and your track record managing similar properties.