All Forum Posts by: Jason Sanford

removed thread .Needs readjusting

Hello everyone. Im starting my home project search and I would like to know if anyone here on BP has any good GCs or contractors that work with investors. I’m looking in the Bergen/Essex counties in NJ. If you are a contractor you can DM me. I appreciate it.

When analyzing a property for the first time before you make an offer, how can you come up with a ballpark rehab budget if you’re not not sure about how much things are gonna cost. For example I find a house that needs a kitchen remodel (new floors, sink, cabinets, etc) by looking at the pictures provided online. How can I ball park a budget for that? Do I go on a site like home advisor and see what a typical kitchen renovation would cost in my area and use that number? I want to be able to do all that before I ask to see the property. Just to be sure it’s worth my time. Does that make sense?

How hard is it for a 1st time investor to get a loan for flips and buy and hold. I know if I had a good deal that makes sense can open doors for me. I probably just answered my own question, but I want to know more...line the pre approval processes for an unconventional loan (hard money or private loans). Any suggestions on books or advice definitely helps. I plan on making some moves by the end of the month. I’m starting out slow but I want to be as knowledgeable as possible before I take step 1. And yes I’m going to avoid the dreaded analysis paralysis!

Can anybody recommend how to look up Real estate market trends? I plan on investing in NY/NJ and I want to know more about each state’s trend in buy and hold. Also maybe a breakdown in counties. I’m not sure what county I might be interested in. That’s why I’m looking into market trends. Any help will be much appreciated.

Thanks

Jason S.

I’m officially going on record. I feel that if I talk it up enough and do something about it, it will happen. I joined BiggerPockets about a week ago (maybe 2..I’m not sure). That was my first step. Then through a conversation I posted about starting out, a member suggested I should take about 30 days to truly figure out what I want to do in the real estate field. So I’m taking that approach. I’m currently educating myself through some books I found in my library. After narrowing down my choices, I decided to start with but and hold investing. Now that I’ve done that, I’m reading the book on rental investing (Brandon Turners book). I’m also working on getting my financial house in order. I know these are baby steps but I’d rather go in educated than go in with no knowledge. That being said..the 30 days of education and financial fixes I’m doing will hopefully prepare me on my next 30 day step...finding deals, getting my investment team together (lender, contractor, I already have my license as an agent, etc), networking as much as I can. I know this post is lengthy but this is my process. I wrote it down in my wish book as well. So that’s where I’m at right now. I’ll write another thread in 30 days.✌🏽

Jason S.

PS any advice on buy and hold will be helpful and considered!

Can buying a condo and renting it out be a good investment for a newbie? I’m looking possibly go down that route. Granted...I gotta educate myself on that subject first. I just want to know the pros and cons about this.

Thanks in advance

Jason

I do own a home. So house hacking will be hard for me. But I will make it my goal to decide what avenue I’ll be going down in 30 days. For the time being, I’ll get educated in some aspects in real estate that intrigues me. One day at a time! 

Thanks for the reply, Frank

Jason

Will do. 👍🏽

@Ashley Hamilton I saw your interview on BiggerPockets on YouTube. Your story is the reason I’m trying to get into real estate. I even bought the E myth book you recommend. I hope to be where your at or close to where you’re at within the next year.