Newbie Looking into the Trenton Area

[Melody Kushi]

Hi everyone,

Extra newbie here educating myself everyday on the real estate investing area.

Since I live in S. Jersey, I am looking into the Trenton Area in order to stay close to any future investment deals. My main question is: should I create an LLC or purchase future deals under my own name. My personal credit is 800+ and I will like to take advantage of any great deals that can come out of it. Or will a new LLC have the same advantage?

Also, looking to start with single family flips in order to get familiar with great contractors in the area and move my way up the chain. Is a single unit (2 bedroom) house $50k +/- a waste of time for my ROI?

Any info will be great appreciated.

Any S. Jersey meet ups happening? Let me know!

[Account Closed]

Hi @Melody Kushi! I would like to share with you my experience in buying my first property in Trenton. I bought in my personal name instead of an LLC and made sure to get increased liability insurance which to a certain extent provides just as much protection as an LLC would. With such a great credit score I believe it would be easier for you to get a loan/re-finance if you bought the property in your own name. As to whether a $50K deal is a waste of your time for your ROI I would say it's not and a big part of that is because it would be your first deal in the area, the first deal is always a wealth of knowledge so what you won't make in $'s you'll easily make up for in networking, contacts, knowledge of the area, etc. I wish you the best of luck!