All Forum Posts by: Mark Houghton

After two years of educating myself on the pros and cons of real estate investing I'm three weeks away from my first closing date (February 12th). I live and work in New Jersey but chose to invest in a single family rental property in Florida. 

I have family on the east coast of Florida who are familiar with real estate investing and were able to provide some solid leads. After getting my offer accepted on Dec 14th and having to go through the underwriting gauntlet ever since, I'm looking forward to finally closing and getting this property rented, and quickly!

Haven't posted on BP in a while but always enjoy reading about what other experienced investors are talking about!

Hey Fred, 

Welcome to BP. I just returned to NJ from Palm Coast where I spent 5 days looking at SFH (was able to get one under contract). Nice to see fellow health care workers with an interest in real estate!

Good luck!

Hello @Jay Perez 

Welcome to BP!

One of the most important thing you can do as a potential investor is setting goals for yourself which it seems you have done. My partner and I have been diligently setting our business up for the past 6+ months and have finally had our first offer accepted this week. Have a plan, execute it, and always keep your head up because there will always be challenges as we can attest to after only 6 months around this business!

P.S. - I live in Bayonne and would be happy to assist where I can

Best of Luck!

@Justin Bush may know of someone.

Best of luck

@J. Lancaster I would definitely like to attend. May be tough for me to make it up there on a Tuesday with my day job but will certainly make the effort if at all possible.

Thanks for your input @Will Barnard . It's certainly helping me learn how to analyze a deal. As of yesterday the house is under contract with a buyer for $160,000, not the deal I was looking for. I have a few others that I will be heading out to this weekend and will be sure to update.

Let us know when the next is scheduled for. I never heard about this meet up and would have liked to of joined!

I have been looking to get into a property in a very similar fashion as yourself and have posed the same question to my mortgage broker. Now, keep in mind where the info is coming from. But, for what it's worth the FHA's main focus is the home buyers intent. If you INTEND on making that property your PRIMARY residence within the first year then you're in the clear. How are you or any other home buyer supposed to know that you job will relocate you? It's not like that's a choice that your making on your own. I wouldn't worry too much about the the nuances of your situation. If you intend on living in this property I say go for it. Better yet, contact a mortgage broker in your area, ask them the same question and go from there. Best of luck.

I'm licensed as a real estate agent in NJ and as far as I know you can not market it as a legal bedroom if there is no access to the outdoors from the basement itself, i.e: a walk out basement or bilco door.

@Rocco L. There's lots to be made in Bergen, I'm sure there are deals to be found up there. However, I am a realtor in Monmouth, Ocean and Middlesex counties (also where I reside) and would be happy to speak with you about what your looking for more specifically. We may be able to find a meeting of the minds and work a project together at some point. I will pm you my cell number.