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Updated almost 5 years ago,
Multi Family in New Jersey
I have recently been looking at multi families, as I intend on making my first deal when this virus is all over. I am open to doing a deal during this, but I believe it will be difficult to find tenants during this time unless I can find a really good deal. I have been at least reaching out to agents with listings that I would consider, but within a day or two of these listings being posted, they all typically have deals over asking price within a day or two. I am asking for feedback on just how competitive this market is. I have checked on roughly 7 listings and every time, the agent tells me I am too late, she has multiple offers above asking, etc. And this is within 24-48 hours of the listing being posted!!!! Any advice would be greatly appreciated. Also, if anyone has any books they would recommend, I am using this down time to study and learn, so I am very open to suggestions. Just finished Rich Dad Poor Dad, Grit, Start with Why, The Little Red Book of Selling, and a few others. All great reads.