All Forum Posts by: Phillip Trenk

Hi, I am new to the real estate world. over the past month or two I have been reading on BP getting educated and listening to the podcast, I am starting to feel ready for my first deal.

I spoke with a wholesaler/Friend who provided me with a few potential deals, there is one that seems really good. its in a very low income area but I am limited in what I can afford and this seems like the right place to start. I am looking for help doing my due diligence here, any input is appreciated.

the property is a duplex 

cost 32,000

repairs 10,000

9,500 additional yearly expenses (10% management, 10% vacancy, 10% for repairs and insurance, taxes, utilities)

NOI 1,400

Thanks, 

Phill

congratulations!!

I did find one that looks like it is in the process of being formed.

Thanks,

Thanks

Can anyone tell me how to find a REIA club in my area (Toms River NJ)

Thanks to you all for the great feedback

Hey everyone I'm new on BP. I am from NJ and I am as newbie as newbie gets...YAY Whats awesome about being a newbie is you only get to be it once :-). I came to the BP because it was recommended to me by a friend who has been doing some flipping and recently introduced me to the field. I am loving the fact that someone created this amazing site focused on helping others...Amazing!! whoever you are great job!! 

BTW I have been listening to the podcast, it is really informative.

Thanks,

Phillip