All Forum Posts by: Johnathan Boyle

@Christian Bill I don't work with buyers anymore as I am more heavily in the investing arena, but I would be glad to speak to you if you have more specific questions you want answered. I agree with some of the comments below that investor friendly means a lot of different things so be sure to spell it out a little. Thank you. 

@David Rosenhaus There are cons of course such as having to disclose you are a licensed realtor and a piece of paper showing it, BUT I honestly think the pros outweigh the cons. The pros are you have access to the MLS so you can run comps. You basically have the ability to get a better idea of what purchase prices or resale prices will or should be. That is what I use for all my deals to give me the best idea of how to proceed.

@David Rosenhaus Haha. Unfortunately Zig Zag isn't there anymore. If I recall, a pizza place is where it used to be. and I get it. Transparency is important. Just want to let you know that they may be hurdles but it can still be done as long as you have the mindset for it. 

@David Rosenhaus When I got started, I had $0. I had credit in the 600s and I was going through a divorce. Now, I am not saying I was in a worse or better position than you, but You should focus on your strengths. Do you work full time? Do you have some knowledge to bring to the table? All deals have 3 things. Time. Money. Knowledge. If you have time, you can be an asset to someone, ESPECIALLY if you bring the deal. Remember 50% (or less in some cases getting started) of something is better than 100% of nothing. If you don't have the money, I understand. That is something where networking comes into play. As far as knowledge, if you are new, I would recommend trying to get your real estate license. It could help you understand the market a little more. 

@Chris Corvil That's awesome. Just curious because I know during the summer we will probably be looking for some interns. We are heavily focused on opening up our kitchen showroom at the moment, but we are still actively buying (7 properties in the next month or so). Feel free to reach out if you have any questions. 

@Jake Drappi That is great and I 100% agree with you. I stalled and had analysis paralysis for a whole year before I jumped in. And eventually I partnered with those smarter than me and now we have an amazing business that works like clockwork. You sometimes have to analyze things based on your best use of your time. Sometimes I still have trouble with that. 

@Chris Corvil Hey Chris, welcome to Biggerpockets. What part of NJ are you looking to work from? 

@Rahul Pat Welcome to real estate. First and foremost, I would say that that is one strategy people use and they get an inspection done before they issue the deposit so they can be aware of what they are buying. Next, it is all about relationships too. I have accepted offers from agents I know because they have been known to close and then I have rejected others because I know they are time wasters. Use a great agent. Depending on what you are looking for specifically, I would ask around between agents and investors because sometimes you can get a better deal with little to no competition that way. I have bought most of my properties off market. I am currently under contract on 8 separate properties all which came from wholesalers and other off-market sources. Some of them, we are buying, doing light reno and selling on the market. Overall, I would say to speak to a few people and give your criteria. Some deals can be made doing that. 

@Salomon Romero that’s something you have to think about. I moved about 30 mins away from my hometown to house back my first house and lived there 2 years. I basically lived rent free from the rental income paying my mortgage. Now, I am renovating it to rent/sell (not sure yet) and either way, I’ll win from appreciation or cash flow now which would pay for most of my mortgage at my personal home. It’s the idea to “suffer” a little now to get better reward later. You’re still young. I wish I started at your age. 

@Salomon Romero How are you looking to purchase the property? If through an FHA loan, you would only need to come up with 3.5% down. I would take a look at where you live and take a look at a few properties in NJ and see where you may want to live. You will definitely need to work with a realtor most likely and you will have to get a preapproval letter done before most will show anything for you. Overall, live in one unit and rent the other is a fairly good strategy. Just be sure to tenant screen properly.