Hi I am hoping to get some tips for just getting started.A few years ago I was all set to get started with some flipping maybe renting.Just as I was about to start our financial situation changed drastically.My wife had to take a much smaller salary and I was hit with a ton of medical bills.So we went from looking to invest to living paycheck to paycheck.We have burned through all our savings just to stay afloat and things are going to get desperate soon.So I am hoping I can get started now before it’s too late.So I have been reading up and looking for options.Any tips or suggestions for someone in my situation to get started in the real estate game here in NJ would be greatly appreciated.Any wholesalers out there that can walk a first timer through would be cool.I have a partner who is less desperate then I am and maybe some investors if the deal looks good.Between the two of us we are acquainted with a lot of carpenters, painters, roofers and other home repair guys who would give us great deals.Plus we are both very handy and usually do all our own work for our homes.Hoping to make a move and supplement our incomes before getting too buried in credit card debt.Any tips would be awesome thanks.

Hi I am hoping to get some tips for just getting started.A few years ago I was all set to get started with some flipping maybe renting.Just as I was about to start our financial situation changed drastically.My wife had to take a much smaller salary and I was hit with a ton of medical bills.So we went from looking to invest to living paycheck to paycheck.We have burned through all our savings just to stay afloat and things are going to get desperate soon.So I am hoping I can get started now before it’s too late.So I have been reading up and looking for options.Any tips or suggestions for someone in my situation to get started in the real estate game here in NJ would be greatly appreciated.Any wholesalers out there that can walk a first timer through would be cool.I have a partner who is less desperate then I am and maybe some investors if the deal looks good.Between the two of us we are acquainted with a lot of carpenters, painters, roofers and other home repair guys who would give us great deals.Plus we are both very handy and usually do all our own work for our homes.Hoping to make a move and supplement our incomes before getting too buried in credit card debt.Any tips would be awesome thanks.

It is in a pretty high demand area in an old building that needs a lot of work.

Inventory is still super low across the board, so I look at whatever crosses my desk - There's demand for pretty much everything; but starter homes are especially hot. 

Supply and demand, there will be more properties available.

If you can raise rents (given the strong demand) and/ or implement rubs (or put separate meters for the utilities) you could really increase the value to the property.  

NOw, the 1-4 unit cliff, is subsidized by residential purchasers like myself who can compete with the professionals by way of a 3.5% downpayment and the highly leveraged world of fha loans - which means more demand can--and apparently does-- drive the price up.  

Supply vs demand, interest rate, sold/asked $ ratio, DOM will tell you the trend.The key is employment or affordability.....  

In some markets, supply remains very low, and prices continue to creep up with demand.

I've been doing a lot of reading to get more familiar with terms such as wholesaling, hard money lenders and other concepts so any book recommendations that can supplement the the information I get from here would be appreciated!