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.

imortgage is the only company I have found to claim to offer this, but I have been unable to obtain many details about how they are doing this. 

@Christopher Brainardin this scenario IE a wholesaler trying to slip contracts for SFR homes .. seller is not going to sue you for performance.. this would be so rare as to be something not to even think about.. unless your a multi millionaire and known to the community to have tons of dough maybe then.. but if your just like the rest of us out there in Real estate land no seller is going to sue you for performance.. they may not sign your cancellation agreement out of spite .. then you have to go to small claims over your EM

The advantage of claiming a Capital Gain is no Self Employment Tax added (15.3% more).When starting out it's not so critical that you have a Real Estate Specific CPA.

I say this as someone who has in fact filed a title insurance claim because they didn't include something on the Prelim that they should have, resulting in me, by name, getting a court summons in the mail over something the previous owner did not do that they were supposed to do.

@Jose Guevarra I would see what kind of commercial RE he specializes in (strip malls, industrial, medical office buildings, multi-family, etc) and how he generates leads.

Each realtor could claim either one zip code or multiple zip codes of their choice and would pay a monthly amount to "own" each individual zip code, meaning all leads/submissions that come in would go straight to them and to no other realtor.

Because it's already foreclosed I can't negotiate something with her to quit claim it to me and then work a short sale for her. 

If it was something like a medical mishap perhaps I could work with it...but I saw collections from jewlery companies, cable TV and other stuff like that.