All Forum Posts by: Kristen Hernandez

Hi! I’m in East Brunswick too and really interested in getting into real estate in the area as well. Similar to you, looking for multi-families but not too common around here. I’m looking to start in wholesaling to help build the skills / knowledge to find and find deals, then hopefully build enough capital to eventually purchase a multi-family. We should connect to have each other in our local real estate investing networks. 

Thank you everyone for your great insight. Your responses give me several considerations before making my decision. Ultimately I like the idea of getting the educations and to @Scott Randall‘s point, having other agents take me more seriously. In our past 2 FSBO, we did get several agents who would call us and say "90% FSBO don't sell" or "why would you even consider selling without an agent". For now, we are going to see if we can find an agent who specializes in real estate investments and see if we ca partner with that person. If no luck, then I will look into getting my license. My only hesitation at this point. Is the time commitment for it. I have a demanding full time job, so I really won't have much extra time to work for a broker, even if part time.

@Michael Dunn East brunswick 

Do you feel its worth getting a real estate license for flipping houses? We have flipped and sold 2 houses as "for sale by owner" that worked out for us, but may have taken a little more time than if we had an agent and were on the MLS. Now we're wondering if it's worth us getting our real estate license as we continue to do more houses to avoid commission costs and get access to more potential flips/sales or should we just leave it to the professionals also and work with an agent?

@Bryan Yokoyama NJ housing costs in general are going to be on the higher end compared to other states in the US, particularly when looking in Northern half of Jersey. You’ll find the more south you go, the lower the prices and taxes (they are even lower if you go into Pennsylvania, for which I’d recommend Bucks County). 
I haven’t looked into the market in Albany, but considering it’s further away from NYC, the prices might be lower. Taxes might be lower in Albany as well. Taxes should be a consideration in your search NJ has one of the highest property taxes in the US and they will vary by town. 

Connecting with an agent seems like the appropriate next move. Through some quick searches yesterday, I saw some month-to-month rentals in my town (East Brunswick, about 25 min from Somerville), but I’m sure they have those types of contracts in NJ and NY. Happy to help if you have any questions on towns/areas in NJ or if you need recommendations on real estate agents as I have a few friends who I’d recommend. 

@Raul R. thank you for the insight, this is helpful! Good to know that condos can be successful, but need to put some considerations in around the HOA fees

My town in New Jersey is going through a large 46 acre redevelopment, for which they are tearing down vacant strip malls and redeveloping with 800 apartment units, retail shopping, mass transit to NYC (busses), technology center and medical building. They are thinking about moving the towns municipal complex here too. The project starts this summer and will be completed in 3 phases over the next 7 years.

Now for my question, right in the heart of the redevelopment location, there are some condos for sale that were built in 1987 (1 bed, 1 bath or 2 bed, 1 bath). Assuming the numbers are in our favor, would these condos be a good investment, particularly with the redevelopment occurring?

My husband (in construction) and I have flipped 3 houses, but we are new to buy and hold game. So far in my Bigger Pockets research, it seems that investing in condos is typically frowned upon due to the uncontrollable HOA fees. We have 0 multi-family homes for sale in our town as we are a suburban town with mostly single family homes, townhomes, condos and apartments.

My town in New Jersey is going through a large 46 acre redevelopment, for which they are tearing down vacant strip malls and redeveloping with 800 apartment units, retail shopping, mass transit to NYC (busses), technology center and medical building. They are thinking about moving the towns municipal complex here too. The project starts this summer and will be completed in 3 phases over the next 7 years.

Now for my question, right in the heart of the redevelopment location, there are some condos for sale that were built in 1987 (1 bed, 1 bath or 2 bed, 1 bath). Assuming the numbers are in our favor, would these condos be a good investment, particularly with the redevelopment occurring?

My husband (in construction) and I have flipped 3 houses, but we are new to buy and hold game. So far in my Bigger Pockets research, it seems that investing in condos is typically frowned upon due to the uncontrollable HOA fees. We have 0 multi-family homes for sale in our town as we are a suburban town with mostly single family homes, townhomes, condos and apartments.