NeWbIe NeEds AdVicE!!!!

[jzp5057]

Hello All!


I am 24 years old living in NJ and I am looking to start my investment real estate portfolio.

I have 60K liquid cash I am willing to use to start my investments. I am looking the nj/pa area. As I mentioned I am a newbie and I am doing all I can to educate my self on this.

My goal is to eventually make a business out of this and quit my day job to operate this business full-time.

I wanted your input on where to begin with this venture? What is the best way to utilize the capital I have saved to effectively turn this into a business, do I buy multi-family, fix & flips, or residential/condo units?

I appreciate your advice in advance on how to get started.

[sam@bcre.com]

I would start with small fix & flip properties and work your way up to bigger projects. I'm not sure if $60k will buy you a house so you may need to pull a couple of investors to work with you on the first couple of deals. Do your research on homes that will be going to auction on the court house steps and buy your first property. Fix it up and sell it for a profit. Take those funds and do it again!

[RealEstateSINY]

I live in New York City, and New Jersey has been a State with one of the higher ones as far as shadow inventory, i were you look at short sales, it takes some time but they are your best deals because of that reason. I will say this, its very risky endeavor at the moment.

[jzp5057]

How about lease options?

Someone mentioned this may good way to start?

Could someone briefly cover how would I profit from lease options as a buyer?