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All Forum Posts by: Mark Scarola

Mark Scarola has started 40 posts and replied 270 times.

Post: Central Jersey (Monmouth County) Meeting - December 2015

Mark ScarolaPosted
  • Developer
  • San Diego, CA
  • Posts 294
  • Votes 70

Just a reminder that this meeting will take place this Thursday, Dec. 10, 2015.

Post: Newbie in New Jersey

Mark ScarolaPosted
  • Developer
  • San Diego, CA
  • Posts 294
  • Votes 70

Hi @Tom T., @Todd Olson, & @Jon DeCamp,

I'm from Belmar myself and run a Monmouth County based REI group. If you're interested, it's free and open to anyone/everyone. Next meeting info:

https://www.biggerpockets.com/forums/521/topics/246589-central-jersey-monmouth-county-meeting---december-2015

Post: Central Jersey (Monmouth County) Meeting - December 2015

Mark ScarolaPosted
  • Developer
  • San Diego, CA
  • Posts 294
  • Votes 70

Overview

There are many ways to invest in real estate. These "types" are often referred to as niches. Some are popular such as flipping, while others are less so. At this meeting we will be discussing a less frequently discussed niche that allows you to financially help others, while also profiting yourself.

Schedule

6:20 Meeting starts (open networking)
6:40 Announcements and Introduction of Group Members
7:15 Main Meeting (presentation)
8:00/8:15 Open networking
8:40 Wrap up and clean up

Main Meeting

This month's topic will be about using real estate to find money for those who have recently fallen upon hard times. You basically get them money that they're entitled to and earn yourself a fee for doing so.

It has nothing to do with affiliate marketing, getting someone to apply for a loan or other product, network marketing (MLM), or selling them anything. You're genuinely helping them to obtain money that belongs to them that they were typically unaware of.

This niche is an inexpensive one to get into if you're just starting out and one that has the potential to make a nice income for yourself without putting in an overabundance of time. Sounds good, huh? Well, at the meeting we'll discuss both the concept, as well as reality. In other words, we'll discuss both the pros and cons. 

There are a number of training courses out there for sale charging approximately $600-$1500 for this information. While we won't be able to cover in less than an hour everything in one of those "courses" or "programs", you will leave with enough information to know if this is something you'd be interested in pursuing. You won't be simply "sold" on a bunch of promises. Instead you'll be told about the good and the bad; the potential as well as some of the more common obstacles. That's life. There's always some combination of ups and downs.

Networking

At about 6:40 we'll go around the room and introduce ourselves. This is a chance to get to know some of the people in the room and can help you to identify who you might want to seek out and speak with later on in the evening.

Location

The meeting will take place at the Red Bank Public Library, located at 84 West Front Street, Red Bank, NJ 07001. You can park in the lot to the left of the building or on the street. Meters are only in service until 6PM.

There is no admission fee for this meeting. We still however ask that you please RSVP by sending me a private message or indicating below if you plan to attend, so that we can make sure to have an appropriate number of seats and if applicable other materials available (e.g. handouts).

Misc.

  • There will be no food or drink served.
  • As always, all are welcome to attend. There are no prerequisites, experience, or membership requirements.
  • The organizer reserves the right to cancel or postpone the meeting in the event of low expected turnout, bad weather, or other unforeseen circumstances. Please RSVP by sending me a private message or indicating below if you plan to attend.
  • Post: Central Jersey (Monmouth County) Meeting - October 2015

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    Just a reminder that this meeting will take place this Thursday, Oct. 29th. All are welcome to attend. 

    Post: Central Jersey Meeting - September 2015

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    @Khurram Malik,

    We meet once a month on the last Thursday (except in Nov & Dec). Here's a link to the next meeting:

    https://www.biggerpockets.com/forums/521/topics/235906-central-jersey-monmouth-county-meeting---october-2015

    Post: Central Jersey (Monmouth County) Meeting - October 2015

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    OVERVIEW

    At this meeting we will have a guest speaker discussing rental properties. Specifically he will share his story about going from being essentially broke when he should've been planning for retirement to having $3 million seven years later. He'll also cover practical and real ways to screen for, find, and keep high quality tenants. Hear how he did it and how you can replicate his success.

    SCHEDULE

    6:30 Meeting Starts
    6:40 Announcements and Introduction of Group Members
    7:00/7:15 Main Meeting (presentation)
    8:00/8:15 Open networking time
    9:00-9:30 Wrap up

    MAIN MEETING

    This month's guest speaker is Joe Neilson. When Joe was 61 years old, he found himself without a job or pension. Joe needed income desperately, but refused to go back to corporate America and start from scratch.


    So he sought an alternative direction, investing in rental properties. In seven years he built a portfolio of over 60 homes with an income of $22,000 a month. Today he has over $4 million dollars in equity and continues to grow his portfolio, but also spends a lot of his time educating others.

    Joe will share how he accomplished so much in such a short period of time. He is not averse to sharing details such as the numbers involved in a deal he's done or mistakes that he's made along the way. Time will be dedicated to the discussion of finding quality tenants and the unique way that Joe goes about finding strong tenants. He has a thorough and uncommon screening process that he will share in detail.

    Also of interest is that Joe's niches include investing in 4-5 bedroom properties as well as student housing. While some people may consider 4-5 bedroom properties "too big" or "too expensive" and student housing to be risky because of the higher expected turnover that comes with students, Joe has found these areas to work especially well. Come find out why he likes these types of properties and if they might work for you too!

    NETWORKING


    At 6:40 we'll go around the room and introduce ourselves. This is a chance to get to know some of the people in the room and can help you to identify who you might want to seek out and speak with later on in the evening.

    LOCATION

    The meeting will take place at the Red Bank Public Library. See our Meetup page entitled "Red Bank Public Library" for details, pictures, and information on parking.

    There is no admission fee for this meeting. We still however ask that you please RSVP in order that we can have an appropriate number of seats and if applicable other materials available. You may do so by posting here, sending me a private message, or through our Meetup page.

    MISC.


    * There will be no food or drink served. 

    * As always, all are welcome to attend. There are no prerequisites, experience, or membership requirements.

    * The organizer reserves the right to cancel or postpone the meeting in the event of low expected turnout, bad weather, or other unforeseen circumstances. Please RSVP if you plan to attend.

    Post: Starting a Small Group to Invest Together: $3-20K per person

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    I'm afraid between logistics and legal concerns things never really materialized. 

    Post: New Jersey Questions

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    @Kyle Pelech, How far as you willing to go? I know you said Monmouth County, but that doesn't mean that you'd necessarily turn something down in Pt. Pleasant just because it's technically in a different county. 

    You'll find wholesalers by connecting with people here. For instance, you can search "wholesaler" on this site and look through the individuals that come up. But honestly attending meetings (even if it's not the one I run) is one of the best ways since you get to meet local people and interact with them in person, getting a feel for who they are. 

    You might also want to touch base with @David Semer. He's in Lincroft and might be able to help.

    Post: New Jersey Questions

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    Hi @Kyle Pelech. Always nice to meet some other local investors.

    As you pointed out, Monmouth County can be expensive. But there are still deals to be had in the area. You just need to know where and how to look. There are wholesalers for instance who will let you join their buyers lists and then email you when a property becomes available. These properties are typically below market value such that you'd be able to use a hard money loan (if you need one). 

    Also to @Kevin Zimmer's point about you being able to analyze a property, don't forget that that's a skill. Not everyone has that skill. You could potentially partner with someone using that skill as part of your contribution towards the project.

    BTW if you're interested, we're having a meeting in Red Bank on Thursday for local investors (Monmouth County). It's free and you're more than welcome to attend if interested. Meeting and networking with others can be a great way to meet potential partners or those who can help you complete a deal. No pressure though.

    https://www.biggerpockets.com/forums/521/topics/221578-central-jersey-meeting---september-2015

    Post: Central Jersey Meeting - September 2015

    Mark ScarolaPosted
    • Developer
    • San Diego, CA
    • Posts 294
    • Votes 70

    Attention: Address Change

    I know this is last minute, but this change is going to allow us to save considerably on the room rental. In fact, the meeting is now free to anyone who wants to attend. There will be no charge at the door for anyone. Those who paid in advance will be refunded.

    Please see below for details on the new location. Pictures are attached.

    New Meeting Location - Sept. 24th

    Red Bank Public Library
    (aka Eisner Memorial Library)
    84 West Front Street
    Red Bank, NJ 07701

    If you need to contact them for directions, their phone number is 732-842-0690. Their website is RedBankLibrary.org. We'll be meeting in the Eisner Conference Room on the first floor near the entrance to the building. Doors open at 6:30. The meeting starts at 6:45.