All Forum Posts by: Account Closed

@Mike Bonadies I took your advice and acquired The book on Investing in Real Estate with No (And Low) Money Down by Brandon Turner this past weekend and I have begun reading. I'm grateful for the book referral, and I am positive that it will help me in the near future. Also, I've noticed you mentioned you have properties in Gloucester and Cumberland counties in addition to Camden, and I decided to look into those areas as well as your recommendations of Fairview and Woodlynne. This weekend I will be visiting those locations to get familiar with the areas and find anything worth looking into.

Also, I would like to know your opinion on a certain matter that a fellow friend of mine who also has interest in real estate has asked me. Being that I am inexperienced, and you have much more knowledge in this particular field, would it be wise to start a corporation or an LLC to acquire prorpeties due to the tax benefits and asset protections that they provide? From my understanding thus far, banks generally do not like lending to entities. Therefore, would it be best to just acquire properties without one or will there be a need to form one at some point?

@Mike Bonadies you seem very knowledgeable about the area and I greatly appreciate your advice and I will take everything you have said into account.

I have another question, if you're able to take the time out to do so.

I have seen properties for sale that need total rehab and cost anywhere between 15k to 25k to purchase. I know for those places, one would have to pay cash. Is there any way to obtain the funds needed to purchase such a property or if there are any way to fund rehab projects without having cash at hand? I am always told for many people, the main barrier for them to get started in real estate is that they won't necessarily have the money to do such things.

Thanks for the reminder! I almost forgot about the 1% rule!

I have had the idea on starting my path towards owning property for a long time and I decided to work towards that idea to make it a reality. I have been researching Camden, NJ for some time now, and I have visited the location a few times to get familiar with the area. I believe it would be a good place for me to begin investing, and I would like to know if there is any one that has had any success in acquiring property here and what I should be mindful of and maybe some advice about investing in this particular location.