All Forum Posts by: David Breitweiser

@Anthony Rosa I am down toward south jersey by the shore. I stick to Ocean County. Some of the towns here have lower taxes then others and ALL of the towns here have low taxes when compared to most of the market north of here.

@Jordan Lucas. Scanning through the responses you got here, I feel the need to be devil's advocate. Long story short when I was 19 I had one goal; Own a ton of cash flowing rental properties and be retired/a millionare by 30. I thought I had life by the neck... I was 100% certain that I was going to be top agent, do a ton of transactions, and spend all my money on investment properties. The problem was that during those years I was dead broke. I was working incredibly hard but never getting ahead enough to have the income /credit /stability to invest heavily in real estate. By the age of 24 I fell flat on my face, and decided to use the little money I had to go back to school and have a career change. I found the "cheapest" route to get a formal education.

Today, I'm 29 with an MBA and a lucrative "day job" that provides me with the opportunity to finance any deal that gets me closer to my goals. I won't sugar coat it- I hate my day job. The good news is I am thinking 12-18 months before I can leave that job, and it can't come soon enough.

I'm not saying being an agent is the wrong way to go, especially for someone like you who is clearly on the right path by interacting on a platform like this at the level you are. I'm just suggesting you shouldn't completely discount the idea of a formal education. If your end goal is cash flowing properties, there are many avenues to get there. Having a solid W2 is a huge advantage that can't be denied.

Goodluck man!

@Timothy Joseph I guess it would depend on your goals and your market. I'm not one of the many people on here that are comfortable investing too far from home.

In my local market here in New Jersey my basic criteria is the following..

-Use hard money lending to purchase and renovate. I put 10% down and borrow 90%.

-Refi with cash back to fully recoop my down payment. (If I didn't recoop my $$ by padding the renovation budget) Refi at under 70% LTV (preferably closer to 60%.)

-Cash flow $500+ per month with new long term fixed mortgage.

Not saying my criteria is right or wrong.. It's just the simple math that I use to gauge if I may be interested in purchasing a specific property.

First time poster, here. I have been on BP for some time quietly reading a lot great info and I have listed to ALL the BP podcasts, some multiple times.

I have done 3 Single Family deals in Ocean County, NJ in the last 12 months- 2 in Waretown, 1 in Bayville. Two out of these Three projects were pretty major renovations. I have also done a handful of deals in Maryland, during the time I lived down there as well.

I feel as if I can pick up the pace and complete 5-6 deals in the NEXT 12 months but I cannot find a good contractor that is reliable, trustworthy, and fairly priced. I have found guys in the $25-30 hour range that are decently skilled, but have a hard time showing up... And I have found reliable guys who throw out rediculous quotes and then try to nickle and dime me after the work is completed to get more money.

I'm capable of doing a lot of the work myself but I work full time, so swinging a hammer after 5pm and on weekends is not a realistic way to add 5-6 homes to my rental portfolio in the next 12-18 months.

Through the last few projects I have found a great plumber, electrician, drywall crew, and a roofing/siding contractor (Happy to provide referrals) but I haven't been able to find the right person(s) to frame walls, install flooring, hang interior doors and trim, do kitchen installs, etc..

I feel like the right contractor is out there... Any advice on who to talk to in order to find them?