All Forum Posts by: David Thomas

Welcome @Tamarra Banks ! Congrats on taking the leap - keep moving forward. You will see your success build if you stay surrounded by investors and like minded people.

As long as you are truly passionate about investing it will happen. As @Ali Boone mentioned, and as I often say to newbies and others, you have to have a burning passion for this business because you love it and can't imagine doing anything else.

Welcome to BP @AK Robinson ! I used to live in Bucks County, and its where I bought my first investment several years ago.

You found the right place to learn and connect with amazing people!

What was your first investment?

Best of luck!

I learn something new everyday - thanks @Rob K. this sounds ideal for small patches and quick fixes but not ideal for larger projects.

@Richard Rodriguez you have a lot of great feedback above.

I have found homes at steep discounts on the MLS by working with a great agent that is also an investor. He gets the listing to me within hours of it coming on the market. These properties are primarily bank owned and come inline with the 70% Rule, but they are priced low due to the extensive work needed. The competition is high and cash buyers win.

Hi @Bill Sonzogni ,

I actually spoke to a few insurance companies this week and they indicated that NNJ rebuild (replacement cost) is at least $195/square feet, and they feel that's a low end estimate!

Sweet! Best of luck @J Scott ! Welcome to the LL world. I'm in a similar position now with a home I hope to close on this week and may share the journey as well, except as an owner occupant! Should be fun.

Congratulations J Scott !! Thanks so much for sharing this journey. I'm sure it was time consuming to keep the posts going in addition to managing your daily projects.

This is what makes BP the best real estate investor site in the world - fellow investors like you who are generous with their time, expertise and guidance and not afraid to show a peek behind the curtain of successful deals. Bravo!

Congratulations @Joshua Dorkin and @Brandon Turner !! Amazing accomplishment and cheers to continued success!

I can thank Bigger Pockets for getting me off of the sideline after a long hiatus from investing because of my first deal several years ago going poorly. I've learned so much since then and made many connections that are ramping up my success !

Well done.

Welcome @James Lucero !

Be sure to setup keyword alerts for NJ and your topics of interest so you can get notified of our next meetup. You will see an announcemt from @Darren Sager who is coordinating the meetings.

Have you decided on a strategy ? Fix and flip? Buy and hold rental? Etc.

Best of luck !

@David Weis the rehab market in NJ is very competitive and high quality rehabs of SFR flips are selling very quickly. Deals are out there for cash buyers. I agree with @Giovanni Isaksen in his comments regarding cycles and alternative strategies & markets. Some of the most successful investors adjust their strategies over time based on the RE cycles and trends (look at @Will Barnard as a prime example!) , otherwise you will have to wait it out.

I know this isn't your niche as you noted, its just interesting to see that the demand for new housing is strong and will keep growing as the US housing stock is aging, less energy efficient, costly to upgrade, etc. vs new homes. Can you partner or JV with a local builder?

http://eyeonhousing.org/2012/01/31/an-aging-housing-stock/

http://www.constructiondive.com/news/builders-put-positive-spin-on-negative-number-for-housing-starts/218564/

http://www.demandinstitute.org/sites/default/files/blog-uploads/tdihousingdemand.pdf

http://www.bloomberg.com/news/2013-12-24/sales-of-new-homes-in-u-s-exceeded-forecasts-in-november.html