All Forum Posts by: Account Closed

@Joe Villeneuve

K Thx.

@Joe Villeneuve

Thanks I will definitely check them out for sure. Do any of the areas you speak of have main street districts that are up and coming where I might find a property to Rehab. Something along the lines of a mixed use property venue that would provide "Hip millennial aged housing".  Where modern rustic/ post beam living design is a possibility within a mixed use venue... I am big into teaching medical center locations with transportation options...

@Brandon Hall

AHHH you and I are on the same page.... Now my question is...Where are places like you describe and are you investing in any of them now?  In NJ we have similar like places you describe in DC as being to expensive and I agree. That is why I am seeking other distant locations. 

@Joe Villeneuve

Can you offer specifics on towns and/or neighborhood names....... I will admit I would rather invest in SFH and Sm Mixed use storefronts with apts above (up to 3 stories and 3 apts) than entire neighborhoods. I do not have the stomach or more importantly the heart to invest on the grander scale you speak of....

@Account Closed

I will check out your profile.. Interesting story. A very good friend of mine owns a HUGE nationwide REO servicing company. I was fortunate enough to travel with him in areas where we boarded up 6 out of 10 homes on a street in areas of Detroit. Then we came back a week later to check on them and it looked like we were never there... Boards down, extension cords running from poles and boxes to homes , garden hoses running house to house furniture we removed replaced with other like stuff...... That said I did see some areas that looked like they were on the fence..... I think Detroit has a way to go yet. When I have my millions under the bed I might invest in areas like Detroit but for now I must pass.... I am not bashing Detroit and I wish Detroitees all the best it just is not a place for me...

How do I decide what state to invest in?

I am very flexible and love the human race. I do not care if it is in a city or suburban venue. My only real criteria's are at this time. 1. There needs to be a real opportunity based on the AVG metrics for house flipping in the area. 2. A location that bullets are not flying.  I am a contractor and very familiar with construction and I seem not to have great difficulty finding great sub lic contractors when needed. 

Although I have invested out of state, it was mostly due to circumstances rather than intentions. Fla PA NJ.   I would like to keep investing here in NJ in real estate as opportunities allow and I build up my partnerships. (I also have interests in self running businesses here in NJ so I can take the somewhat leap but have reasons to return occasionally) but as the children have grown. I really want to venture out. Beyond the states listed. I have been fortunate that I have seen many parts of the USA and I am thankful/grateful for all it is. 

I would like to start investing (SFH/Small mixed use flips only at this point) in other parts of the country. Living in (p/t or f/t) and experiencing these areas as I do so. My intentions would be to flip in a location (do 6 or more flips) for 1 yr then move on ( I would like to keep doing this for at least the next 15 years) . I have my own systems/methods/metrics/algorithms down pretty good and I make money with them. *Not home runs but I hit plenty of singles and doubles.....

I am not a millionaire.. (meaning I do not have a million dollars in singles in my mattress) but I have access to it. I am conservative by nature although many think I take to many risks (again relative term).

So where do you invest outside your home state and why?

This is what I am seeing... Millenia's are pushing the rebirth of the urban areas around me. The are getting married later, want to be around social situations and close to friends (very close) But as soon as they settle down a little and the word "Baby" is uttered in the couples vocabulary it is off to "Burbs" My observation it is not the McMansions any longer. How do feel about my observations and if you are flipping describe some must haves that put your finished projects ahead of the pack...... 

@DeKarla Kyle

I am working with some newbies I met on BP and other REI venues. I offered a 50 50 split in one scenario (it closed and the reno's are moving along fine) and I am working on putting an equal three way split on another deal. Sure we are all bringing a little skin to the game (again we are saving 50% or 66% down payment for each of us as apposed if we did it separately) and we also bring different skills and points of view to help suppress failure through our agreed upon business plan.

Dividing the profits two or three ways will provide enough reward for me as I will end up doing a little less work than if by myself (and them also) plus I get to see the world from a different set of eyes and I think that is a good thing.  (Sorry I am not greedy).  Also I am hopefully building long term relationships to possibly fund other deals in the future and or just have a friend in case. I do not choose to do deals with those exactly like me but those that are hungry and show a real zest for learning, doing and openly sharing s a must. They need to see the forest for the trees. There are thousands of untapped opportunities in R/E everday. More to go around than I could ever imagine so in my mind again I enjoy friendships that are easy......  

@Donald Ward

You came to the right place.. Check out all the blog posts regarding Real Estate GURU SYSTEMS. Do not give anyone a dime until you know the entire agenda of the system and whom are the officers of the company? You will find BP is a great resource.

@Matthew Rembish

You will be offered a ton of advice and suggestions here on BP. I would strongly suggest acquiring knowledge from a vast array of sources (also I suggest researching in full the resources and the potential agendas there of) .  Some hold weight in my opinion more than others. 

The "costs breakdown" Jay... provided through his link is a good place start in my opinion but remember there are many variables. You will find in places like Toms River with many different subdivisions/sections of town and the diversities within can greatly affect costs and rewards in all the categories as mentioned from one street to the next. Since you are renovating your own home (not sure if it is to rent or flip) pay very close to your neighborhood. I have seen a ton of rehabbers over do it and really over spend on projects and under do it and do shoddy rehabs and pay for it in longer holding costs or lawsuits. Developing relationships will help control all your costs from acquisition, rehab and disposal/renting. Watch your ROI.

Been there, experienced it......Yes in Toms River... North Dover, Gilford Park, Holly Oaks, Dover Walk, Holiday City, Silverton, Kettle Creek and more.