Young New Jerseyian!

[Patrick McPartlin]

Hello All,

I, like most others, have been a long time lurker of these forums, probably around 6 months or so, and am only now getting around to introducing myself. Apologies, but I have been soaking up amazing information from you guys and really I had nothing to post about so I figured I would refrain from registering until I had something post-worthy. Well, I believe that now I do!

A little background on myself first.

My name is Patrick. I currently attend university full-time in PA and reside in Central NJ. I am 21 years of age, and have had plans of getting into real estate investing for approximately 4 years. What piqued my interest initially was the freedom, flexibility, and control one has in this line of work. I have had many jobs including desk positions and quickly realized what I like and didn't like.

Real estate investing is a good fit for me because my brother, dad, and uncles are all carpenters. My mother and step-father are real estate agents. So I have picked up a few things along the way. My first unofficial investment was funding my brother’s house. It was a house that suffered extensive fire damage and was a hoarder house; a full gut to the studs. It came out amazing, that was the turning point and inspiration to "go for it". So I am very familiar with property acquisition, the renovation process, home repairs, and selling real estate. Having said that there are still many, many lessons to be learned in the world of real estate investment. As most on here say, no two renovations are the same.

So I have been taking in the 70% rule and getting better at cost estimating, accounting, tips, timelines etc. etc. etc. This site is truly a wealth of knowledge and for that I thank all of you.

First Project

I have been actively looking for investment opportunities in the Central NJ area. My partners and I have placed multiple bids on two different properties. We are in tight negotiations with a bank on a good potential flip. The numbers work out and funding is there, just trying to squeeze the bank a bit. Our numbers (banks' and ours) are very close at the moment, hopefully within the next couple days we’ll have it under contract.

I’ll keep you guys posted if all goes well, and if not I’ll still be around the forums and looking for the next deal.

Sorry for the novel! And I'll try to get a picture up as soon as possible.

-Patrick