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Forum -> Inquiries & Offers -> Lakewood, Toms River & Jackson related Inquiries
How to break into the real estate field
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amother
Aconite


 

Post Mon, Feb 27 2023, 4:09 pm
sarandipity101 wrote:
8% is on the lower end imho. My deals all yield higher rates of return than that. But thats why I said everyone needs to make financial decisions based on what rates of return theyre looking for.


what cap rate are your deals at approx?
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 4:10 pm
amother Aconite wrote:
what cap rate are your deals at approx?


11%-13%
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amother
Aconite


 

Post Mon, Feb 27 2023, 4:15 pm
sarandipity101 wrote:
11%-13%


wow, what state?
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 4:15 pm
amother Aconite wrote:
wow, what state?


Michigan and PA.
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amother
Aconite


 

Post Mon, Feb 27 2023, 4:19 pm
sarandipity101 wrote:
Michigan and PA.


on or off market?

do u deal with brokers or reach out directly
would love to hear more if u r ok sharing
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 4:20 pm
amother Aconite wrote:
on or off market?

do u deal with brokers or reach out directly
would love to hear more if u r ok sharing


No problem! I deal with both on and off market deals. Dont look specifically for one just what makes the most $
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amother
Aconite


 

Post Mon, Feb 27 2023, 4:34 pm
sarandipity101 wrote:
No problem! I deal with both on and off market deals. Dont look specifically for one just what makes the most $


hope its ok I pmed you
appreciate your help
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 4:37 pm
amother Aconite wrote:
hope its ok I pmed you
appreciate your help


Didnt get your pm for some reason but happy to help once I get it. Wink
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amother
Cyclamen


 

Post Mon, Feb 27 2023, 4:58 pm
I would not recommend the owners class if you have a library nearby! It’s the same real estate investing principles that have been around for decades, repackaged for Lakewood and slapped with a 10x price tag. You can find the same with frum hair and makeup classes. I’m happy the people running the classes are doing well, but it’s not the best use of your money in terms of seeking business information.

There are also lots of real estate podcasts if you’re an audio learner. Be careful because many are just there to tease you and sell you their course. Some books do that as well. Read the Amazon reviews carefully. Many books do what books have done for generations- give you valuable information for a cheap price!

For some reason, this generation prefers to consume material via expensive courses, when much of that information could’ve been gleaned in a $20 book. Obviously you won’t have any hand holding with a book, but at least start that way!

My advice would be to get a job in a real estate investing office. That’s how you’ll really learn the ropes. That’s what DH did, although the salary at the time was not great. But some of the investors retired or moved and asked him to manage their properties. Then he bought and flipped his own. Then he put together small deals. One step at a time! Unless your father is a wealthy real estate investor, obviously, then you can skip the first 900 steps lol!
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 5:03 pm
amother Cyclamen wrote:
I would not recommend the owners class if you have a library nearby! It’s the same real estate investing principles that have been around for decades, repackaged for Lakewood and slapped with a 10x price tag. You can find the same with frum hair and makeup classes. I’m happy the people running the classes are doing well, but it’s not the best use of your money in terms of seeking business information.

There are also lots of real estate podcasts if you’re an audio learner. Be careful because many are just there to tease you and sell you their course. Some books do that as well. Read the Amazon reviews carefully. Many books do what books have done for generations- give you valuable information for a cheap price!

For some reason, this generation prefers to consume material via expensive courses, when much of that information could’ve been gleaned in a $20 book. Obviously you won’t have any hand holding with a book, but at least start that way!

My advice would be to get a job in a real estate investing office. That’s how you’ll really learn the ropes. That’s what DH did, although the salary at the time was not great. But some of the investors retired or moved and asked him to manage their properties. Then he bought and flipped his own. Then he put together small deals. One step at a time! Unless your father is a wealthy real estate investor, obviously, then you can skip the first 900 steps lol!


I respectfully disagree. The Owners Class provides not only information, but also lifetime mentorship, which is priceless. It also provides a community on which to share insights and deals. You cannot get this by reading online and both these items have come very much in handy.
Am I saying you cannot learn how to close deals online? 100% you can. But the mentorship and community are worth every penny you pay for the course IMHO.
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amother
Skyblue


 

Post Mon, Feb 27 2023, 5:33 pm
amother Aconite wrote:
on or off market?

do u deal with brokers or reach out directly
would love to hear more if u r ok sharing


Michigan? My husband just did the books for someone who invests in properties there and the returns seemed low to nill to losing money. Residential or commercial?
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mommy1000




 
 
    
 

Post Mon, Feb 27 2023, 5:36 pm
amother Skyblue wrote:
Michigan? My husband just did the books for someone who invests in properties there and the returns seemed low to nill to losing money. Residential or commercial?


I have both residential and commercial in Michigan. Maybe the guy who invests in Michigan doesnt know what hes doing Wink
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amother
Silver


 

Post Mon, Feb 27 2023, 5:41 pm
amother Cyclamen wrote:
I would not recommend the owners class if you have a library nearby! It’s the same real estate investing principles that have been around for decades, repackaged for Lakewood and slapped with a 10x price tag. You can find the same with frum hair and makeup classes. I’m happy the people running the classes are doing well, but it’s not the best use of your money in terms of seeking business information.

There are also lots of real estate podcasts if you’re an audio learner. Be careful because many are just there to tease you and sell you their course. Some books do that as well. Read the Amazon reviews carefully. Many books do what books have done for generations- give you valuable information for a cheap price!

For some reason, this generation prefers to consume material via expensive courses, when much of that information could’ve been gleaned in a $20 book. Obviously you won’t have any hand holding with a book, but at least start that way!

My advice would be to get a job in a real estate investing office. That’s how you’ll really learn the ropes. That’s what DH did, although the salary at the time was not great. But some of the investors retired or moved and asked him to manage their properties. Then he bought and flipped his own. Then he put together small deals. One step at a time! Unless your father is a wealthy real estate investor, obviously, then you can skip the first 900 steps lol!


Because your husband had this experience doesnt mean that people can't take the owners class. And also doesn't mean that they have to take 900 steps to success when they can invest a little money and skip half of the steps. It's not always black and white
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amother
Pear


 

Post Mon, Feb 27 2023, 5:58 pm
sarandipity101 wrote:
11%-13%


11-13% cap rates in today's market.... something is smelling a bit fishy IMHO
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amother
Aconite


 

Post Mon, Feb 27 2023, 6:53 pm
what books/ podcasts are good ?
looking to get more into wholesaling deals and finding good off market deals

would love to take owners class but cabt afford at this point...

any suggestions? tia
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