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Forums » Buying Real Estate » Newark, NJ

Newark, NJ Subscribe to Newark, NJ

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David Steltzer

Accountant · New York, New York


Forum_avatar_avatar-nyccpa

Feb 08 '10, 05:38 AM

Hi all,
Being in NYC, it is tough trying to get into real estate profitably. Is anyone landlording in Newark, NJ?
Thanks

Edited: 06/26/2010 at 11:33AM


Leslie Thompson

Real Estate Investor · Select a State


Forum_avatar_avatar-calcutta8

Jun 27 '10, 01:06 PM

I own a 2 family property in Newark. I live in one unit rent out the other The rental market is tough out here now. It seems like every other house has a "For Rent" sign. However, with that being said, I still think there are good opportunities in Newark. You just have to pick your neighborhood carefully since there areas of Newark that are quite rough.


Mike D.

Real Estate Investor · New Jersey


Forum_avatar_avatar-newinvestornj

Jun 27 '10, 02:46 PM

Originally posted by Leslie Thompson
I own a 2 family property in Newark. I live in one unit rent out the other The rental market is tough out here now. It seems like every other house has a "For Rent" sign. However, with that being said, I still think there are good opportunities in Newark. You just have to pick your neighborhood carefully since there areas of Newark that are quite rough.


Leslie, are you able to find properties that fit the 2% & 50% rules talked about on this forum without going into the rough areas?

Leslie Thompson

Real Estate Investor · Select a State


Forum_avatar_avatar-calcutta8

Jun 27 '10, 03:25 PM

Hi Mike

Im new to the site and Im just getting back into looking at real estate for investment. I didnt see anything related to the 2/50 rule on any forum (still learning how to navigate through this site). Im unfamiliar with this rule. Im not sure if Im the best person to talk to now. I only own one property. Im not a seasoned investor. I am looking to learn how to wholesale properties in the area and buy some income properties creatively.


Raymond B.

Real Estate Investor · Wallingford, Connecticut


Forum_avatar_avatar-ray06492

Jun 27 '10, 07:36 PM

Here is a link to the 50%, 2% rule:

http://www.biggerpockets.com/forums/52/topics/18371-help-me-understand-this-deal-and-5-2-rule

Ray in Ct.




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