New Jersey Market (Essex County)

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New Jersey Market (Essex County)

Anthony Ocasio
NYC/NORTH JERSEY · Member since 2021 · 16 posts · 7 votes

I have been trying to get into real estate investing for a better part of a year in the north jersey market specifically essex county. Been really rough since i am a first time home buyer i was wondering if any could share any tips or strategy on how to win a deal.

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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    5y

    You are an investor or a first-time homebuyer looking for a home? Either way, it's near-impossible to do that right now in Northern NJ. What's your price point and are you using cash of financing? If you are putting less than 20% down, it's very hard to close a deal against 10-30 other offers. We just got 57 offers on a two-family in Irvington, Irvington! If you don't have to move or invest to live right now, let the market correct and look for deals this summer when everyone will be on vacations.

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  • Anthony Ocasio
    OP
    NYC/NORTH JERSEY · Member since 2021 · 16 posts · 7 votes
    5y

    I agree with you Jonathan, price range would be 450-500k as far as pre approval but I’m looking to Stay under 350-375. I’ve been putting in offers ready to get my feet wet but it’s been frustrating but either I need to get more creative or wait.

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  • Johnathan Boyle
    Real Estate Agent · Belleville, NJ · Member since 2015 · 408 posts · 94 votes
    5y

    @Anthony Ocasio I would be looking for off-market properties in any way I can. Try to build a relationship with some people and then hopefully buy from someone who wants to sell. Plenty of sellers if you reach out to them. Just not deals for most investors but for an owner-occupant, they can still make sense with such a low interest rate. 

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