All Forum Posts by: Jeiby V.

HI @Maurice Hayes Sorry to hear about your horrible experience so far just out of curiosity what has caused so much headache? In regards to your question your best option that I see is attend your local REIA group there's a lot in New Jersey just head to meetup.com and browse various groups and attend the ones before the 15th you'll be able to find local contractors there.

Hi @Anna Monteiro Welcome to BP and congratulations on deciding to invest in real estate, like you I'm also new but I started wholesaling in effort to build a little bit of capital so I could purchase my first buy and hold.

The only bit of information I can provide in regards to investing in Newark and surrounding areas (my experience is with Jersey City, Newark, Elizabeth) you have to asses your risk tolerance, what I mean by this understanding what your willing to tolerate is very important since Newark is very cheap invest knowing that dealing with tenants might be an issue but this all comes down to your screening process and the location you choose to invest in. Since you have 25k to invest consider using a FHA or a 203k loan search around BP to find more details about it and lastly connect with other buy and hold investors so you could learn from them.

Hi!

@John Cohen Thanks for creating this post I'm currently still be but took action this year and have done 2 deals so far wholesaling so far. I really want to get into buy and hold that my main goal but I have a few creative ways about that but i would like to receive an opportunity to hear you opinion on the matter. I'm thinking business loans, credit cards possibly, I haven't yet used my first time buyer loan yet.

Thanks in advance!

Hi @Joseph Reidy Sorry to hear about your accident get well soon! But you should find a job and save up on the meantime just learn as much as you can.

Hi @Kevin Suttles try reaching out to other developers in BP or go to city hall in newark and look around their development department.

Hi @Candi Rivera Welcome to DP! you'll soon find out this website contains a lot of usefull information, the only small advice I can give is make sure to take action! I officially started 3 months ago and have already closed 2 deals. Pick a strategy and do it!  

@Ty Murray Yes you can I started 3 months ago and have done 2 deals so far.

@Nick Zinner No problem! If you are certain it's free education go for it! and please let me know lol! unfortunately I've paid lucky not a lot and it's been worthless I did learn the basics but that's it. 

But from reading your response you're way ahead of me! I wish I could buy an REO and flip it, but as far as the strategy if i where in your shoes I would probably buy a 3-4 family or try to do another flip. In regards to a 1031 I have a close friend that has experience with this but from what I know its a trade up system in a way similar to monopoly, let's say you have 3 single family and you want to trade up for a commercial building you can do this legally and also avoid paying a lot taxes. I'm certainly going to do the same as you when using a 1031 but I need to find a good job first lol. On the mean time I'll just use my 203k loan or FHA and buy my first one, Something else to consider join a group please be aware some are better than others jus make sure you join a group you can actually connect with people.

Hey @Joshua Ford in order for any of us to give you specific advice what is the niche your trying to target in real estate?

@Nick Zinner Welcome to BP I can tell like you I'm also new but I didn't let this stop me from starting, the only thing i can say is think about it in NJ every person I have meet that considered mentoring me ask for money nothing in this world is for free. If you where a professional investor would you personally waste your time helping someone when your using your own time for nothing? Me personally I actually would honestly but a lot of the "professional" are either busy actually doing deals and don't have time to mentor or there are those that charge a ton of money up front to teach.

My solution that i concluded is just do it! it's that simple from what i see, i ised to waste a lot of time finding mentors and preparing myself as much as i could but one 1 did my first deal that's really when I learned a lot. And I still don't have a mentor lol.

Understand yourself I'm young and I've done a lot of crazy things in the past so taking a leap to do anything i dont second guess it because at the end of the day I'm learning from personal experience and growing as a person.