What are the good locations in NJ,CT and PA?

Question

Hi everyone. I have been visiting Biggerpockets for months now and I would like to get more insights from other Biggerpocket members. My name is Meng and I live in New York City.  I've been searching a lot on websites and reading books about real estate investments for almost a year now. I believe I'm ready to buy a property of my own and either buy and hold or fix and flip. There's just a few questions I want to ask Biggerpocket members. There are three places I want to explore my options of buying a house however I want to know what are the safe place to do so.

1. New Jersey? ( I heard East Orange, and North Bergen is a good investment there.

2. Connecticut? (New haven is a good and safe place place)

3.Pennsylvania? (North-East part are mostly the safest from what I researched)

If there's places you think it's best visiting I would gladly consider checking it out.

If any one can suggest or give me some advices for a beginner who is ready to take the next big step in the real estate business I would greatly appreciate it. Also if anyone knows a few good real estate personnel that would be good to look into that will be a great help.

Thank you so much.  :)

Karin Crompton · Answer

Meng W., what do you mean by "safe?" Are you talking about a safe bet, a low crime area, etc? Whatever the definition, New Haven is too diverse an area to apply an across-the-board description to it. Connect with some people who know the neighborhoods and go from there. But be very wary of choosing a city - any city - on the whole.

David Krulac · Answer

Meng W.

I like Central Pennsylvania around Harrisburg, the state capital city, low unemployment, etc

I also like Pittsburgh area, revitalized economy based on university, medial and financial businesses,

Mark Gallagher · Answer

Meng W.

I'm in the Allentown metro area of PA. Tons of commercial development going on here due to special NIZ that was created leading to a stable residential market. Reference: http://www.allentownpa.gov/Neighborhood-Improvemen...

We do joint venture fix and flips in this area. If interested, send me a PM and we can talk further.

Meng W. · Answer

@Raymond B.thanks, this helped a lot

@Will Melton@Andrew SparksAccount Closed I will look into Allentown, I was thinking of visiting that location this weekend. Is it a safe and low crime area? Do you recommend anywhere?

Paul Timmins · Answer

Meng W.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

Paul

Charles Worth · Answer

Meng W.

That is East Orange. I won't say its a bad market but its definitely a tough area. I know a developer who was trying to build the type of development you build when you think an area was on the upswing and despite offering security, shuttle buses and great amenties still could not sell it. However, there might be someone on here making that area work.

Pancham G. · Answer

Meng W.: I will be interested in looking at allentown. Will send u a PM

Mark Gallagher · Answer

Meng W.

12 murders in 2014 in Allentown. Reference: http://www.neighborhoodscout.com/pa/allentown/crime/

Buy and holds, you're looking at 18102, 18103, 18109. Flips are in 18104, and then areas of Bethlehem 18018, 18017. South Bethlehem is good for holds.

Charles Worth · Answer

Meng W.

East Orange is typically thought of as a bad area.

What is your strategy? Do you want to buy in C and D areas and try and manage it? Will you have a property manager? This will greatly determine what areas are best for you? Both good and bad areas will have deals and will be best for different startegies.

Scott Zwernemann · Answer

Hello Meng,

I am a fellow investor out of PA. If you are looking for safe bets around here and nice areas, I suggest right where I invest, Bucks and Montgomery County. Give me a shout if you are around, we can talk and strategize a plan of action for what yyou want to do out here.

Thanks,

Scott

What are the good locations in NJ,CT and PA?

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