All Forum Posts by: Hasan Hamdan

Best thing to do is learn from a wholesaler. There is a ton of information that can be found here on BP and elsewhere on the internet. I would also join the local Investor meet-ups to network and learn from others there as well.

Hudson county is great for multifams if that is what you are interested in.

Welcome to Real Estate Investing. There's a huge investor community in Jersey to connect with and learn from.

There are 3 meet-ups in New Jersey that I know of and have been to.

There is NJRESN that is always in Garwood which is the biggest meet-up of the 3 and is very rewarding. There is also NJREIA and the New Jersey Real Estate Investment Club that are smaller but are also great.

I would just like to add that there are 3 meet-ups in New Jersey that aren't far.

There is NJRESN that is always in Garwood.

There is also NJREIA and the New Jersey Real Estate Investment Club that both float around NJ and a usual location is Piscataway.

It very well could be hotmail blocking them. And if you cannot even find them in your spam folder then only the sender can fix this.

Or you can open a gmail account and sign up back again.

Originally posted by @Richard C.:

Originally posted by @Hasan Hamdan:

If you have the rights to sell, then no problem with realtors bringing buyers. If you have a signed contract with sellers then you should be covered.

In regards to the asking price, you just have to keep working it with the sellers. And a rule of thumb, if you're not embarrassed by your first offer then it is too high. :)

 That contract is pretty certain to be time-limited.  There is nothing at all preventing the buyers from simply waiting out that time and then dealing with the seller directly.  And in fact, the seller is perfectly within his rights to actively solicit backup offers.

You are absolutely correct, but being a good wholesaler is working the deal well that those things don't happen, although hiccups are always possible. I wholesale as well as buy from wholesalers. Here in Jersey, a deal is a deal, if the wholesaler is giving me a price that works, I don't worry or choose to wait it out and talk directly with the seller. The same thing is true for the buyers that come my way when I like to wholesale. The people that will wait it out are not the type that I want to work with, unless they are doing so because the price is not right.

Some of the biggest wholesalers recommend building a buyers list that will show you what the buyers want so that you know where to target. Last thing you want is to lock up a "deal" that no one is interested in buying. But you can work both sides of it, get some deals under the belt that will bring buyers, and look for buyers that will lead you to the hot market.

I can tell you that the New Jersey market is doing well for investors. The competition is increasing but as long as you have your niche and stick to it then you should be fine. The 70% rule works fine and I even know some investors here that follow the 65% rule. In regards to trends it really depends on what county you are in. 

In regards to buy and holds I am not involved in that but I do know some of the biggest investors here stick to one city and buy as much as they can there. It really depends on location in Jersey as the counties and cities are so different.

If you have the rights to sell, then no problem with realtors bringing buyers. If you have a signed contract with sellers then you should be covered.

In regards to the asking price, you just have to keep working it with the sellers. And a rule of thumb, if you're not embarrassed by your first offer then it is too high. :)

You do not need  a license to wholesale. As long as you have the proper paperwork and contracts relating to your state then you should be fine.