Good morning everyone!
My name is Dylan and I reside in northern N.J. (the rural part of NJ if you can believe it). I'm a financial planner by profession, I deal largely with company and state retirement plans and assisting clients with retirement funding analysis. In dealing with this population i have learned by observation that many people 1. don't save nearly enough 2. Don't take ownership of their financial lives 3. have not developed a strategic plan to implement a strategy to be comfortable in retirement regardless of income during their working years. Many that do have more stable situations are largely in the real estate game (to varying degrees). Thus I was led back to my roots, but let me explain.
My family used to deal in real estate on a relatively amateur level. It has worked for us in the past and that fascination of homes we explored while looking for a deal in my youth, and the different factors that led to a wise purchase has strongly flowed over into my current life. I'll admit that i have done a comprehensive amount of reading, have listened to all the BiggerPocket podcasts, read all of @Brandon Turner's books (thank you Brandon you rock), and listen to an average of one audio books per week in relation to business or real estate for the last 3 months. I've been analyzing deals for a year and have come to the conclusion that N.J. has most of it's potential cash-flow eaten away by taxes. I'm ready to jump in and start making some purchases and being an investor rather than a bystander. My long term goal is 1000 properties. Big goals, big action, big results.
I am on the search for quad-plexes, with 2/3 bedrooms and 1/2 bathrooms, built within the last 60 years that cash-flow at $200 per door minimum after all expenses. I have been on the hunt for a nice balance of low taxes (compared to NJ almost anything is low taxes to me) and close proximity to central locations that retain low vacancy. I am focused on the mid-west at the moment and have been searching and learning about AK, PA, OH, and a few other states economic factors and stats. Does anyone have any suggestions regarding location given the parameters? I admit that I have been backlogged with research and need to hone my focus to start executing.
I'm happy to be part of the community!
All the best.
-Dylan
