All Forum Posts by: Jonathan Blandino

Thank you for your post @Matthew Vitlin Totally true. I was reading into wholesale real estate recently and got me back into Biggerpockets but them digging deeper it looked like the next great depression based on some articles I've read. Unfortunately, I hate depending on others and fear that if I fail someone will need to help me back up and I become gun shy. I think its time to move forward and put a plan into action. 

Do you think it would be a good idea to find those working in real estate in my area and offer help as far as task or labor in a flip or data entry in exchange for knowledge and mentorship? AM I selling myself short doing this? I want to learn my market are and how it works to best know what routes are profitable where I live and how to get started out in building my own portfolio.

Hey guys! I have been on Bigger Pockets for some time but my job kept bouncing me around city to city but I've finally been let go and have about 4 months of savings before I'm in the red. I have all the time and want to start my own way in that time. I'm willing to work to the bone but I get apprehensive because I will read about a good idea here and then a following article on why its not for newbies or why most wont succeed. I enjoy being informed of pitfalls but they also create a mental block. 

I just want to get some suggestions on really where a newbie should begin. I have my time, elbow grease, and willingness to do whats necessary (in the now) but minimal capital because I'm leveraging it to cover my expenses while I attempt a new venture.

I know alot of people cant put 100% because they have a job but I'm free of that so if anyone knows of any articles I can read to get something off the ground before I'm tapped out I would appreciate it. I know its vague because there are so many aspects but I don't want this time to go to waste to try and begin something new.

Thanks guys and yes the "to be built" gave me a red flag as to if this property is even the one on the actual location.

Hey guys,

So I am very interested in this property

http://www.zillow.com/homes/union-nj_rb/#/homedetails/18-Sandy-Point-Dr-Lake-Hopatcong-NJ-07849/2107493388_zpid/

This is a lake community home and as far as I know there are no membership fees and though the taxes have increased they are no more ridiculous than normal for New Jersey as from my research. Zillow estimates the property near 300k but its selling for 80k. I can easily put the downpayment and even considering using an FHA loan. I like the location more than anything as it is safe but close enough to get to see my family and friends further east and the price is fine with me. So whats the catch with the low price? Anything I should really look into before I make a regretable leap?

Hey, I was planning on purchasing a home in the area I am located currently since it looks like I will be out here for a 1 -2 yr contract and the property taxes are low (compared to NJ, but who isnt) and townhouses are decently priced. My employer brings in hundreds of people a year looking for rentals and rooms during their contract period and I thought I would capitalize by buying a townhome and renting out the rooms as my landlord is currently doing. I would live in 1 bed room and rent out the other 2-3 rooms. I just want to know how I can find out if this is legal to do in my area. Most of my cowokers rent out rooms and it seems a common practice but still want to know if this is ok as I would like to have leasing agreements. Also am I allowed to rent within the first year if I purchase the home through an FHA loan? I know you need to live in the home for the first year which I will be doing but I dont know if I can rent during this period?

OK great to know. Yes it would be for ourselves.

2 buddies of mine and myself have opened up a business and plan to purchase and lease property via the business. Is there an issue doing this through the business entity instead of as individuals? I read somewhere that some states require brokerage licenses for us to do this. Anyone have basic knowledge on this? Also how do I find out if New Jersey requires this? Just hoping our business creation was not a waste of time. Any information is greatly appreciated.

2 buddies of mine and myself have opened up a business and plan to purchase and lease property via the business. Is there an issue doing this through the business entity instead of as individuals? I read somewhere that some states require brokerage licenses for us to do this. Anyone have basic knowledge on this? Also how do I find out if New Jersey requires this? Just hoping our business creation was not a waste of time. Any information is greatly appreciated.

Thank you everyone. This information has been very valuable. It will help in our decision and how we can proceed forward researching the options in the area. I have been interested in a 203 loan for a fixer upper.