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Updated over 1 year ago on . Most recent reply
Starting Business BRRRR/Flip/Multifamily
Hi,
Before I jumped into questions, here is our (Me and My brother) background;
Both Have Full Time job with recently sold Vacation home which got us bunch of profits. We tried to do 1031 exchange but failed and nothing happened as we didn't like property which we can say a good one (Cash Flowing - Multifamily). Now we have decided to pay Uncle Sam Tax and move on to next chapter with remaining amount and start Real Estate business (BRRRR, Flip, Multifamily) Portfolio.
Area: Currently, we are looking for New Jersey Area only, but if there is good cash flow deal OOS then we are OK with it.
Can you (All experts) please advise on following topics?
1) How to hack off market deals ? (Currently we are working with many Real Estate Agent but everyone just want to sell nothing else). We are here for long term not for short term.
2) How would we build trustworthy team (Real Estate Expert, Contractor etc) with whom we can start our business?
3) Any other suggestion we should follow?
We have six figure and we would like to go slow and steady. We are not looking to become millionaire overnight as we want to learn all process in real estate step by step. Therefore, if someone wants to work with us then they have to be very very patience...lol.
If needed more info like budget and all please DM me.
Thanks
Most Popular Reply
Hi I just want to add two things. Your real estate agent should be an investor and maybe you can even ask them to provide a track record document which they'll probably have if they've used hard money. Once you have a real estate agent / investor they can usually lead you to the other team members. That's how it has been for me and I'm also in New Jersey. The other thing is that my experience without-of-state investing is not optimal. You had mentioned that you want to learn the business from the ground up and if you're doing it out of state you'll just be relying on others to do everything and you'll be out of touch with your investment. Good luck to you and your brother!