for PA/NJ markets… what is the most effective approach?
have excellent credit, as well as available cash/line of credit.
use cash to low ball REO’s, shorties?
pointers appreciated.
Regardless of the area you are located, or the local market conditions, there is never one best approach. Each deal is in and of itself.
That said, a fair generalization these days is “cash is king”. If you have the cash or access to it, you can negotiate some extraordinary deals.
Hi there!
The most effective approach is to use your cash and credit wisely.
Before proceeding, how much experience do you have in real estate investing?
If not much, I would start by wholesaling properties. This way you minimize your risk, but you will figure out quickly what makes a deal a good deal and which ones to run away from.
After a few successes in this arena, you can move on to other avenues.
If you’re looking to keep homes start off by buying light fixers first before moving onto heavy rehabs.
Always tread slowly and lightly, gaining experience on the way.
With your cash and credit, you can also be a partner on several deals.
hope this helps!
Dennis
thanks for the wise words…
‘experience’ is in short supply here… so will stick to risk free wholesaling for the time being 
I live in NJ. I do a lot of wholesaling and lease options.