All Forum Posts by: Jp Kilduff

@Michael Boyer I've been in 15 years and I've only been able to do this once when I was stationed in Jacksonville, FL. I still own the home and I'm making $200 on it after all expenses. Unfortunately I've stationed in places like Key West (too expensive), St. Louis which I lived in Govt housing (I wish I would have bout there!) and Cleveland where I was just too young and scared to purchase a home.

But, it's never too late. I'm looking to buy here in Cape May but this time it will be as an investor rather than a owner/occupant. 

I've looked into some of the options for promissory notes and it looks as if there are quite a bit of issues that could pop up and expenses that, if you don't have a pot of money, could bite you in the butt. I think I would like to start out as a small private money lender. I looked in the marketplace/business and see that most of the private lenders are 100K+.

Needless to say, I will be putting myself out there to be a 30K and under private money lender.

John Paul

@Michael S. Thank you for the info and recognizing my introduction. Sorry it took me so long to respond but I was buried in all the information this site has to offer! Good luck finding your rental properties and gaining your financial freedom!

@Mark Nolan thank you for the advise on the promissory notes. I will definitely look into that topic on this website! If I have any questions I hope that you don't mind that I ask you along the way!

@Jacob Sampson I agree with taking it slow at first. Aim small miss small! Thank you for your words. My neighbor and I just had a conversation this evening about the possibility/potential in investing in low income housing (section 8).

Thank you both for your time!

Awesome share @Michael Petrone! I am just starting out in NJ and have plans on retiring to the Space Coast, specifically Merritt Island, FL when my enlistment ends. I have a very successful friend in real estate there that has made a name for herself.

Welcome to BP and I wish you the best on your journey to larger units.

John Paul

@Joseph Scorese thanks. Now that I found this community I wanted to cancel but it was too late. I though the Fortune Builders guru route was they way to go...This site and it's members are WAY better! I'll make sure to touch base with you to see if there is anything that I can offer you down here in "real" South Jersey as the locals like to say. 

@Paul Timmins THANK YOU for all the advice! That was a perfect place to start! It has definitely opened my eyes to what I could potentially get involved in. I thought Wholesaling was what I wanted to do but now I may be going another route. I was able to find SJREIA and now I have a list of dates that I would love to attend to meet up with people in person and start shaking hands! I would like to talk to you personally about the opportunities in HUD and student housing. I will send you a message outside of the forums. Again, thank you for the good start!

@Kurt Kwart I would definitely like to meet up for some coffee or chow and talk shop if you were interested! We'll have to work out a good place and time. I'll message you personally. 

Thank you to you all for reaching out to me in my "infancy" ;)

John Paul

Awesome topic @Devin Mann. I will be following this closely. I have a friend that is a CPA that I have been asking tax questions to and although she has been helpful so doesn't specialize in Real Estate taxes.

Thanks for bringing this up!

John Paul

Hello from Cape May, NJ

I am strugling to find what niche would suit me. I am initially considering wholesaling as my vehicle because that's what I was pitched at a Fortune Builders seminar a couple weeks ago. I just recently found Bigger Pockets and have been reading and listing to podcasts and it seems as if it may be more involved than I thought. By no means am I scared of being in over my head (I actually perform very well with my back to the wall) I just want t sure that my first steps in REI are the right steps. I will probably be moving out of the area within the next 2 years once Uncle Sam tells me to so I'm not sure how invested I should get.

My neighbor is a contractor that does rehabs on residential and commercial properties so I think I have a contact there. I've read about all the ways that you can invest in buy and flips without any out of pocket expenses so I would almost consider doing this before I even tried wholesaling.

You know the biggest problem with REI is that there is SO MANY vehicles and exit strategies and I'm not sure which one would be right for me yet. I'm sitting on a 30K self directed IRA that I would love to put up as hard money since I don't think it is enough to fund an entire deal.

I'm a kid in a candy store waiting to fill up my basket!

John Paul

That must be an amazing feeling! I'm happy for you! Congrats!

Hello Ashley! 

I am new too but I just wanted to say welcome and I hope you find what you're looking for on the forums. There is so much information here its astonishing. 

Good luck! 

John Paul

Good evening,

I am new to RE and BP. I've been told several times that my best bet is to reach out and see if there is anybody in my local area that would be willing to meet up.

Next weekend I will be attending a three day Fortune Builders workshop in Philadelphia and I have an extra ticket for anybody who has the desire to attend.

I'm really anxious to get started because I already have a couple cash buyers that want to buy some properties.

John Paul Kilduff II