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new investors in new jersey 1 Year, 1 Month ago
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we are new investors ..we purchased carlton sheets zero money down program....
were are looking to purchase a 2 family in either bergen or passiac county any advise for us?
the other question... we may have an oppurtunity to invest in a preforclosure but we have no experience any advise?
thank you
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Re:new investors in new jersey 1 Year, 1 Month ago
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1) Regarding advice: Make sure you "crunch" your numbers. Don't try to make the numbers work--if they don't work move on to the next deal. Do your homework and make sure you know your market!
2) Regarding preforeclosures: Get all of the information you can about short sales before doing one. In some areas, short sales work great; in others, there are so many foreclosures on the market that you can get a better deal after the foreclosure, when the property is bank-owned. It all depends on your market.
Good luck and let us know how it goes!
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Re:new investors in new jersey 1 Year, 1 Month ago
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I would check the areas for local Real Estate Investor Clubs. Join any meetups or clubs that offer discussion and training on finding preforeclosures. All of this depends on your power team. You should build your powet team before and during your club meetings. Don't rush the process, go as fast as you like, but try not to repeat other's mistakes by asking for advise at the local level. Carleton offers short sales info, but I would try to focus on finding families that just want to get out of the home mortgage so they can start over without a foreclosure on the record. They are out there. I have found many local clubs, and many are willing to show me deals they have completed and review my deals. I realize some may try to steal deals, but you will quickly find those you can trust and those you can not. Keep good records, and work with the people you can trust to help you, and in return send them a few deals.
As Mr. Kiyosaki says, offer to work for free, to gain the knowledge and experience.
You can also get started with wholesale and finding deals to send your team. Build trust first, give more than you receive.
Hope this helps.
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Re:new investors in new jersey 1 Year, 1 Month ago
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Good advice, James!
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Re:new investors in new jersey 1 Year, 1 Month ago
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Karma: 2
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Good advice, James!
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