Rentals in New Jersey

[Anthony Sanzari]

I just got my real estate license mainly to be able to crest my own investment deals. I am in the process of buying my first property to live In for a year and then rent. It is a small condo in Bloomfield NJ. After I close this deal I would like to invest in either single family or multi family homes as rental properties. Can anyone give me some advice on how to get started and if anyone knows good areas in New Jersey to invest that would be great too!

[Ryan Paltridge]

Hey @Anthony Sanzari,

What was your reasoning for investing in the condo first? Jersey is a tough market with taxes being so high, but in regards to your single or multi family investment, it really depends on what ROI you are looking for and risk tolerance. Right now, i'm building a three family in the ironbound section of Newark. Blue collar, sub-market with great rental demand. If you can use the BRRR (buy,rehab,refi,rent) technique, it's a also a great way to force equity into your project and be able to cash out a lot or all your money if you invest wisely. Let me know if I can be a resource for you in any way.