All Forum Posts by: Janice Reaves

@Vaughn Smith  Great Information!!!  I did not know this at all. Yes, I do consume alot of content-You Tube, Podcasts.   So can you tell me how a newbie can get started to get her 1st deal then.   I need help.  Feel free to give me a call to discuss this at 551-337-1961

Thanks Crystal for the input. Yes, it appears that if I get my real estate license it will cost me several thousand dollars to maintain each year. This of course means that I need to make $$$ for cost-benefit to be profitable. It is my sole intent to be highly profitable as a REI.

What is your journey so far?  Are you an investor?  Any suggestions on how/where/who to get started?

Wow!!! You have made some excellent points all around. I didn't know that to keep your license active the cost is $2K-$3K!!! OUCH!!! Definitely, need to chat with you on this point. I keep getting different advice, such as, if you get your RE license, then it's a good way to get MLS access, data and comps free otherwise you have to pay for me it. I understand Zillow is not reliable. Is that true?

Because you work for a RE broker, you get info first before other REI investors know about the property therefore you have an advantage.

Taxes: I am highly concerned with this subject even before REI. I need to understand what I can and can't write off, deduct, etc for real estate, especially working out of the home office set up. I understand that REI get great tax breaks. Is that true? If so, can you tell me a couple. Or better yet, is there a book on this subject you recommend? If I am taxed at ordinary tax rate or self-employment tax rate, I am in big trouble.

Nevertheless, if Donald Trump can pay next to nothing in taxes, then I need to learn from the Pros/him and to set up my biz properly via LLCs and other intelligent tax advantaged vehicles.   

"Who you know":  When you are right... you are right!!!   Let's discuss liquidity from both a short term immediate cash flow perspective and a medium to long term cashflow experience to build financial independence.

Solid Full time Job:  To be determined.... I am changing school districts this year and currently job hunting.  Yep... gotta have $$$ for sure. I am doing this because as a teacher I don't make enough income vs what it took me to become a teacher with student loans around $150,000.  OUCH!!!

I am off for the summer and have more time to focus on my new biz.  I will reach out tomorrow.  

BTW, I would like to know more about you and your REI experience/journey.

Thanks in advance for taking the time to respond and willingness to educate.  

With Kind Regards,

Janice 

Hi Mark: Thanks for reaching out to me. That sounds like a great idea and something I would like to explore further, but it is important to note that I am a complete novice to REI and will need the support, advice, guidance and leadership of experienced REI. In addition, for me, I need to network and increase my sphere of influence so that I may learn the biz and make some moonay!!! I have yet to close my first deal and I am excited to get started. I just don't know where to start.

Also, at the moment, I don't have a car so we would have to find a mutual venue that is agreeable for the both of us that is accessible by public transportation as well.  I have some ideas right here in Hackensack as it is being regentrified with new apartment buildings, eateries, coffee shops, bars, new theatre, updated bus station with a plethora of connections, and there are 2 train stops in Hackensack that goes into Secaucus and Hoboken.  There is plenty of free parking here too.

While 1.5 hours is not right around the corner, it's a drop in the bucket for me as I often do this commute or longer on a daily basis. I think the NJ Transit train or bus stops in the center of town and hopefully the meeting venue is within walking distance.  I will have to do some more research and figure out how to get to Morristown, which is a very nice affluent area with great restaurants, bars, the "Green" (I think that's the name-???) which is their park area in the center of town and interesting historical sites.  

Let's see if we can collaborate with the Morristown group and other REI groups especially in northern NJ near us to increase our chances of success. What are your thoughts on this? Hope to hear from you soon.

Greetings!! 

My name is Janice R.   Currently, I work as a math, special needs, and ESL teacher. I am certified both in NJ and NY states holding Masters' degrees. I live in the northern NJ, Hackensack area.  FYI, before teaching I worked in Corporate America for major global companies, i.e. JP Morgan Chase, Citi-Group, UBS to name a few in various roles, such as, Accounting, Project Management, Business Analysis, Strategy. I also hold a BS in Accounting from Fairleigh Dickinson University, Graduate level Tech certification in Analysis & Design of Information Systems from Columbia University in NYC.

I plan to start my REI journey/career on a part time basis while teaching. My most immediate goal is liquidity!!! Let's get my 1st deal done and get some cash in my pockets while obtaining some experience. I am open to obtaining my NJ RE license, but after listening to some of gurus on You Tube, it appears that it's "nice to have"; but not a necessity as I am interested more in the "investment" side of the business. What are your thoughts?!!

My current REIs focus is on Wholesaling, Subject To, Airbnb, flips, short/long term rentals, tiny homes, and RVs and mobile homes.

I am open to suggestions, advice, to meet up and team up.

Thanks to all!!!

Hello Shawn: My name is Janice R. I am new to REI and looking to network and need advice. I am in Hackensack, NJ. Can I join your group for your next meeting? Also, Are your meetings accessible by public transportation?