All Forum Posts by: Mark Scarola

Just a reminder that this event is planned for this coming Thursday, Sept. 24th. If you plan on attending please let me know either on this post or through private message. If you RSVP in advance you'll be charged the lower fee of $10. Those who do not RSVP will be charged $15 at the door. 

Don't worry, we'll wrap up early enough so you shouldn't miss the Thursday Night Football game (if you're concerning about that).

Also... Please check this post prior to attending as the location may change mid-week.

Hey @Justin Bush, good to hear from you! As you can see we've kept the group going, though the turnout can vary quite a bit from meeting to meeting. 

Hard money loans can be expensive if you don't use them properly. For example if you hold on to the property too long being unable to sell it. But if you get the deal done quickly enough and you understand how the loan is structured then hard money can be a good way to make a deal happen that otherwise wouldn't. Like anything else, you're paying for a service. In this case that "service" is the provision of money that you don't have. Also make sure that you talk to a couple different lenders. There will be similarities, but they won't all have the same loan structures.

Hi @Jarrett Todd, 

There are a lot of different niches to RE investing. If you're looking for books to read you may want to consider either one that provides an overview of the different types of investing (the beginner's guide here on BP isn't bad for a quick overview) or several books to expose yourself to the various options out there. 

You may also want to consider attending a few meetup groups in the area, such as ours in Middletown. It's a great way to network with local investors and learn what types of things others are doing. 

Hi @Eleinne B. 

I'm sorry I don't have a recommendation for you in terms of an attorney, but I do run a Monmouth County RE investing meeting which is a good place for networking. Our next event is next week.

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

If you haven't already RSVPd for this event, please let me know if you plan on attending. Our guest speaker is coming from out of state and if we don't have at least 15-20 people I'll have to cancel the event. 

If you register in advance and pay online via Meetup you'll also save $5. This incentive is to encourage early registration. All money received remains with the group and is used to pay for the rental of the room.

Hope to see you there!

Hi Jeff,

Nice to meet you. I wouldn't worry so much about the level of the content. The meeting is listed as "intermediate", but it shouldn't be over your head technical. Our group also covers a wide range of experience levels with some members having no experience or real estate knowledge at all, to those with one or two deals under their belt, to others with years of real world experience. 

Meetings (whether this one or any other) are a great place and opportunity to expose yourself to new information and make connections with others. Every meeting that I attend I meet people who are brand new and like yourself many have been reading books, watching videos, etc. to educate themselves. Keep it up. That's a great way to learn. But by talking with others in your own area you'll get a better understanding of local trends, themes, and what types of things others are doing.

As far as what you can offer others, you likely have a wealth of skills that you don't even realize. As you expose yourself to different forms, techniques, and styles of investing you'll naturally find yourself drawn more towards this or that which may very well be related to some skills or interests you have. For instance, you don't have to know construction or be a lawyer to be successful. Working with people with physical disabilities might mean that you'd be drawn towards making homes ADA compliant and/or perhaps you'll end up specializing in senior housing again making sure that all your properties are properly accessible.

Hi @Maureen Campbell,

How are you? I live down the shore myself (though north of where you're describing). Your right about wanting to avoid Atlantic City. I'd also be careful though with some of the towns that border it. Economic decline doesn't always stop at the city line. There are also a lot of swamplands in that area that even before Sandy hit would've made me cautious about investing right there.

That being said some of those towns are as you know vacation destinations for Phila area people in particular. Just remember though that as a landlord you'll own the place all year long. Will you earn enough from summer rentals to let the place go uninhabited during the rest of the year? Do you trust that an empty place wouldn't be vandalized (esp. if you don't live close enough to check up on in it regularly)? Or would you insist on year round tenants? Just some thoughts...

@Account Closed, I run a group for investors focusing primarily on Monmouth County. We're off for the summer, but talking with others who are out there day in and day out doing deals locally would likely be a great way to answer your question.

@Denis Deleon, Wherever you invest it's important to know your area. I wouldn't stress too much about finding the perfect city/town. Pick a place and really get to know it well. I've heard some good things from a couple different people about Brick though.