All Forum Posts by: Leslie Thompson

Thanks for the heads up Dan. Matter of fact, I was planning to go the courthouse tomorrow to get my feet wet. I will definitely inquire about notice of defaults.

@Ted and Jackie: Thanks for the support. How do I generate income doing short sales without spending capital?

Hi Mike

Im new to the site and Im just getting back into looking at real estate for investment. I didnt see anything related to the 2/50 rule on any forum (still learning how to navigate through this site). Im unfamiliar with this rule. Im not sure if Im the best person to talk to now. I only own one property. Im not a seasoned investor. I am looking to learn how to wholesale properties in the area and buy some income properties creatively.

I own a 2 family property in Newark. I live in one unit rent out the other The rental market is tough out here now. It seems like every other house has a "For Rent" sign. However, with that being said, I still think there are good opportunities in Newark. You just have to pick your neighborhood carefully since there areas of Newark that are quite rough.

Hi my name is Les. I've always had an interest in real estate since 2002 when I used to work as a real estate agent in NYC (renting out apts in Manhattan). Then, I took a break from real estate and was working at a hedge fund from 03-08. In 2006, I bought an income property (the traditional way - no creative financing) in Newark, NJ. I live in one unit and I'm renting out the other. Given the distress in the real estate market, I feel it would be good time to get back into the market. So I joined a local real estate investment club in NJ to network with other investors and real estate professionals. I figured a good way to get back into market is to wholesale properties. I dont have any experience wholesaling properties but I have a few books here that Ive been reading. I also plan to take a wholesale properties course through the RE club I just joined. My goal is to make money wholesaling properties and buy some more income properties in the NJ area. I figure I start locally in Newark and the surrounding areas to get my feet wet. If there are any suggestions/tips from investors, it would be greatly appreciated. Thanks