All Forum Posts by: Ersi Bice

I want to find the tax records so that I know who owns certain small multi-families so that i can possibly contact them. 

@Jay Hinrichs @Joel Owens

Your answers are both very informative. I thank you very much for making many things clear to me. My plan for my first deal is to indeed by a fourplex with an FHA loan and live in one of the units. I was just messing around on the mls and saw what seemed like a very good deal in the ghetto so I thought I'd get some feedback.

@Randy E. @Missy H.

Thank you for your feedback.  I happen to agree with both of you.  I just want to get an overall feeling of what the BP community thinks.  

So obviously the "hood" is not the ideal place to invest in rental properties but how bad is it really? Can someone brake it down for me? What are the Pros and Cons and do the Cons out way the Pros or does it depend? Does anyone have any horror or success stories about their own experiences?

PS... I live in North Jersey and am sort of referring to the cities known as Passaic and Patterson

Hey @Marcin Ferenc. Since I'm just starting out I'm looking for dublexes, preferably triplexes, and quads.  Then eventually work my way up to multifamily.  I want to buy and hold while collecting cash flow and also putting in work wherever I can to add value to the property so that I can later trade up. 

 I noticed you have some experience with the local market and own two triplexes.  Congratulations! Since you've been in the game longer, what areas do you think are best to focus on and what strategy do you use in finding good deals?  I'm not looking to park myself and focus on only one city.  I'm open to anything within a 50 mile radius from me.

So I'm new to REI and I'm looking to make my first deal. I live in Northern New Jersey and it seems like properties all around me are very expensive. Is it me or is this the truth? Am I not doing a good enough job of researching for good deals? If so, what tools are available when analyzing markets?

It might very well be that I haven't developed the skill of finding those good deals yet but what if that's not it? Like I said, I'm new at REI so let's say the market around me is overvalued.....

How do I start my investing venture?  I'm looking for possible approaches.  All feedback is appreciated.

- Ersi Bice

Thank you all for the welcoming comments: @Brandon Turner  @Nathan Paisley  @Peter O'Donnell  @Joshua Diaz  @Account Closed  Nice to meet someone that lives down the road from me.  We're in the same boat as far as trying to figure out the north jersey market.  Either I'm still not good at finding the good deals or our market is very expensive.  Please let me know of anything new you can find about the area.  I'll do the same.  Maybe we can work together.  

@Jesse Waters

Well since I am new and just entering the workforce out of college, I'm looking to invest as soon as possible which means the most I will be able to afford is duplex, threeplex, fourplex and if possible a bit larger multifamily.  I want to start small.  

Thanks for the greeting!

Hello everyone,

I've been a member of BP for a week now.  I came upon it as I was researching what has lately become my calling which is the great world of real estate investing.  I was given the opportunity to sign up for Brandon Turners Bigger Pockets webinar which focused on how to used the site and I signed up and attended the webinar.  I fell in love as I learned what a great community Bigger Pockets is for any and all types of investors.  I am looking to learn as much as possible from all the educational content here and hope to make some friends along the way :)

With that being said, I am new to real estate investing.  I know quite a few people around me that are successful and have built long term wealth from owning real estate.  That's my main goal and I want to learn as much as possible so that I can confidently purchase my first property and be prepared as much as possible.  

I have noticed that people actually reply to the new members forum.  That's amazing haha.  Thank you in advance for any welcoming comment.  I'm very happy to be part of the Bigger Pockets Community