All Forum Posts by: Rebecca LeBrun

Hi BP! I am new to real estate investing (meaning I currently have no deals under my belt) and I feel like I'm finally ready to get my feet wet. I read about people teaming up with a good agent to help them find deals. I wanted to ask you all if this is a good move for me to do? I personally know a few agents and I've been considering reaching out to them about teaming up with me to find houses that need to be rehabbed. My goal right now is to find a good deal on a house that needs fixing. I would fix the house up and then put it back on the market to be sold for a profit. Has anyone ever worked with an agent before? Do you end up splitting the profits made from the flip or does the agent make commission only from the initial purchase? I just want to get a clear idea on how this can work for me. Thanks!

I'm new to real estate investing and I'm very interested in buy & holds and fix & flips. Like the majority of us on here, my overall goal  is to gain financial independence through owning  multi-family rental properties and also gain experience in fix & flips.   I've been doing a lot of reading, listening to podcasts, and I began going to open houses to look at different houses to see what's out there.  I want to settle in an area but I'm unsure of where to look and what should I look for in a market that has potential to invest in? What makes a housing market good and what should I avoid?

I hope this question makes sense! 

@Llewelyn A. I googled "tenant nightmares" and you are completely right!  There are so many horror stories, it's incredible.  I remember now that my parents "house hacked" for a while when I was growing up and they had all types of tenants.  We lived in a 3 family home and there was one time, they dealt with a tentant that had issues with the FBI that we were completely unaware of.  We were away on vacation one day, and next thing you know we had relatives calling us to let us know that our house was on the local news! To be honest, it does make me second guess dealing with tenants!  But then I hear success stories like yours and that pushes me to pursue this kind of investment all the more...My first thought is, I have a better chance dealing with good quality tenants if I pick the right area verses the lower income neighborhoods.

My other thought is, I was thinking I could try wholesaling out for a while before actually taking the plunge to purchase a multi-family home.  Have you ever done Wholesaling before?

@Robert O'Keefe thanks for your input.  I am very new to this and I want to get as much practice as I can.  How would you suggest I start practicing underwriting deals?  How do I go about doing this?

My husband and I are interested in purchasing a multi-family home to live in.  The idea would be to purchase a 3-4 unit home, live in one of the units for free, and rent out the other units to cover the mortgage and all other expenses for the home.  My dilemma is our location. It's no secret that New York and New Jersey's cost of living is ridiculously high.  To live in a decent middle class area in Essex County New Jersey, the price for houses usually start at around the higher end of $400K and up.  I found some multi family homes for way less than that, but they're usually in sketchy neighborhoods that we would't feel comfortable living in. 

My question to the more expereinced investors on here is, do you think it's worth us going into that kind of investment being that the cost of living is so high? Do you know of any strategies that we can try to make this work despite the high priced homes? 

Thank you @John J. Spellman & @Oleg Shalumov!

Hi All,

I am I'm interested in trying my hand in wholesale. I have no prior experience and was wondering if there is anyone in New Jersey particularly Essex or Morris County who are doing business there, would be willing to provide copies for necessary forms. I would also welcome any best practice advice.  Thank you!

Hi Jd, thanks for your input.. I don't know if I have a knack for selling because I never done sales before. However, I am a people's person and I'm not afraid to strike up conversations and get to know people, which I think may be a good trait for a sales person..

A part of me wants to take the plunge, get my license, and quit my job.. but I heard real estate agents are usually broke for months before getting anything. My top concern is to not become homeless while trying to pursue this. 

Thanks Nick!

I want to get into wholesaling full time so I can quit my 9-5.  I've been reading up on different ways to start in real estate, and wholesaling appeals to me the most because I was able to grasp the concept of it right away.  I've always been an entrepreneur at heart and I really feel that working in an office behind a desk all day is slowly killing me. I know going into it won't make me rich over night, but if I could just do enough to replace my salary I would be satisfied.  I'm seriously contemplating getting my real estate license and becoming an agent.  I heard plenty of people say you don't need a license in order to wholesale, which I understand, but I look at getting license as a door opener for me. I  need somewhere to start, and I think getting licensed can open that door for me by getting me the knowledge and information I need... To my more experienced investors and wholesalers, do you think it's possible wholesaling can replace my 9-5? What are your thoughts on my getting licensed?