All Forum Posts by: Guy Maltais

The most difficult aspect for me right now is trying to understand how to begin in the current market in my area. A couple years ago, everything was burning Hot. Now, not so much. The value of properties continue to decline and as a brand new investor, that's a scary thought. However, the old adage of "Be fearful when others are greedy. Be greedy when others are fearful" comes to mind.

Loans are tough to get. Houses are being listed are at a low.

Now I realize there are ways around this. Stay ethical. Stay focused on what works. Make sure the numbers work. Do the work. Don't neglect research.

At this point I just hope I am "getting in" and learning at the right time to see the market's plateau and turn around.

I'll be planting seeds all winter. Learning all I can for the next few weeks. Networking. Meeting like minded folks and moving ahead.

I do have to say though. I am somewhat bugged at the fact that every time I turn around there is an ebook or course or system or seminar that someone wants to sell. They all sound so enticing as the end all be all solutions to starting a business.

Man am I happy I found this site!

~ Guy

Ok... So some time has gone by since I've posted the original. Thanks for all the reply's... they have helped a great deal and have pointed me in the right direction.

I've filled out my profile information with more details as to what we are looking to do. We've started to build our team. We've spoken to our Accountant and told him what we are looking to do. We have spoken to 2 Agents whom have also started to provide us with contacts for private lenders, and title agency's and attorney's. We are really looking for ethical like minded folks to work with today and into the future so I am taking the team building aspect of this very seriously.

Currently working on creating an online presence so that Agents, Wholesalers and sellers know what we are looking for and whom they would be dealing with.

Douglas, you asked what we are looking for.

Well... We are looking for motivated sellers so we can start making offers on property's in the Central New Jersey area. Whether those leads come from Agents, Wholesalers or marketing methods, we are ultimately looking for a way to generate plenty of leads so we can start making plenty of offers.

At the moment we are also looking at financing options to fund the deals. We have credit, equity etc. but we are not closed off to the idea of using hard money lenders.

Still looking to get my feet wet.

Guy

Thanks Jaws... I have REALLY been meaning to do that... I am in information overload and it has slipped my mind. Seems I have forgotten the value of networking... I will get on my profile asap!

Thanks for the heads up on what a wholesaler will ask... Noted and thanks!

Guy

My situation is as follows. My father and I are partners in this endeavor. He is 65 and retiring from the commercial construction industry after 45 years this coming February. His hands are his greatest assets. He knows construction in and out (except for electrical) and does not want to retire and sit around. He has been wanting to get into real estate investing for quite some time.

My experience is a little different. 10 years ago I purchased a fixer-upper in a great neighborhood for my wife and I. Spent 10 years working on the home myself and with the help of my father and the house has grown substantially in value. For me, my current home was a school of hard knocks. I've done quite a few modifications and brought the house up to a really nice house. My mistake during the 10 years however has been multiple equity loans. We owe what the home is worth. Invaluable in my opinion for what I've learned about home rehabbing. So combined, my father and I are looking to get started in this business. I know my way around the internet. I can find the resources needed and do well socially. My father has the credit and investment capital. Together, we KNOW we CAN do well.

Ok. So, we want to flip houses. In a nut shell that's about it. We want to find great deals on distressed homes in nice neighborhoods that people want to live in, fix them up as quickly as possible and turn around and sell them. Rinse Repeat.

The leg work of finding deals seems to be the bottleneck at this point. As a potential buyer... where do I find the wholesalers? Where are you all hiding and how do I uncover you guys?

Guy

Hey there... :-)

We are a father son team looking to get started in real estate investing here in Central NJ. Most of the online tech. networking work will be done by the 'son' in the team. That's me.

I am a 35 year old telecom tech. I've done some research in REI in the past but never did get my feet wet. I do however own a home in NJ that we purchased for the purpose or fixing up so that I could learn what it takes to repair homes. That was 10 years ago and the home has grown substantially in value because of the repairs and modifications that have been made. About 95% of the work has been done with my own hands.

My father has been in the construction field for over 45 years and will be retiring in February of 2010. He has huge goals in real estate as he is not the type of person to sit at home for the rest of his life. He would like to look into homes that he can work on for a few months, repair, and resell.

Together, we are quite determined to earn a substantial income from this endeavor. We work well together and get along quite well. He is the muscle and I am more on the technical side of things.

I am super glad this network site is around and really look forward to meeting some great contacts!

2GInvesting...