All Forum Posts by: Jared Smith

Hey Everyone,

So I have started putting in the legwork. I have been networking, reading listening to podcasts and learning all I can about how to invest in strategies and different ways to be successful. What I have heard is that location is everything. What I am wondering, is what do you feel are the most important key factors and Data points to look at when determining where to invest and why. Also where do you look to find this data, I always love to learn more so that I can take the appropriate steps to succeed in Real Estate. Thanks for the help in advance and I hope everyone had a Happy Holidays.

I have someone who covers most of Bergen and some of Passaic county. Unfortunately they do not cover ironbound

Hey Melissa Dobson I am also 22 and have thought the same thing you are thinking before. From what I know there are 2 ways of getting money. Grinding and sacrifice to get your first property and then progressively snowball or you can try and find a partner that will be the financing person while you provide value somewhere else. Good luck, I am not an experience investor but happy to answer any questions I have the answer to. Feel free to connect.

Hey @Featj Da,

I can recommend Steve Smith Signature Home Solutions LLC out of Wayne, NJ. I don't know what you are looking to do on the house personally, if you could provide a little more info that would be helpful. Reach out to me for more info on this recommendation!

@Kevin Malone

Going off of @Steve Bracero a cap rate is the percentage of net operating income you receive on a properties purchase price (cash only). So to reiterate Steve, 40k NOI with a 400k purchase price (cash) is a 10 cap. 36k NOI with a 400k purchase is a 9 cap and so on.

Hey @Chris Prefontaine,

Welcome to BP, this site is great for your continuing want to gain more knowledge. I am beginner here, but I see people of all expertise/levels helping one another out. Congratulations on your successes I wish you the best of luck moving forward with your company. I personally have no current knowledge of Lease options but would be interested in studying up on them for the future. If your passion is to help others fill their potential, this is a great place to come as people of all backgrounds and skills come here to learn and teach. Hope to see you around the forums! 

Thanks @Christopher Brainard and @John Walker.

@John Walker I appreciate the recommendations and encouragement. I wanted to see MLS properties just to see what homes are looking in my area and what the current style in neighborhoods are. Currently I am networking at local REI meetings to find someone who will work with me as a partner. Do you have any recommendations and finding financing with a relatively low pool of capital starting out.

@Christopher Brainard Thanks for your input. Working a sales job I understand the pay structure which is why I initially made this post. No one likes their time wasted and I wanted to see if anyone had a suggestion on what to do. It seems paying the realtor would be the best option to make sure they are compensated for their time showing me properties. Would you recommend viewing open houses instead of looking at MLS listing to gain knowledge on property styles and ARV ranges?

Hey @Michael Rosenston

I would have to agree with @Steve Bracero while Worcester homes can be over 100 years old, it is still a great market to dive into. Learn your market and once you have developed your knowledge it is easy to determine what a good deal looks like. You could look out of state, but you would need to build a team and make sure you trust them as mentioned earlier by @David Barnett. Worcester is close enough to Boston with a low enough entry price to warrant looking at in your case. By engaging in Worcester you would be able to assemble a team that is close enough to meet or travel to if need be. One way or the other there is going to be a hurdle you need to figure out.

Hi Everyone,

I have recently started diving in want to look at properties that I think could be bought/invested in. The issue is a can't afford them myself. The issue with this is that the Agents that are showing me the houses want to see a proof of funds so that they know I can actually afford what they are showing me. My goal is to try and find something worth either wholesaling or partnering on. How do I go about informing the agent that I am just looking and don't actually have the capital to buy without a partner so they still show me the properties?

Happy Holidays everyone!

Hey Kyle Cabral thanks for the great response and insight. You have to forgive me as I am new to Massachusetts and to REI but do you do a ton of vetting in FR? from what I've read it is a rough place to invest