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ForumsArrowReal Estate Agent ForumsArrowWhere should I 1031 to in NJ for a multifamily property?!?!
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Where should I 1031 to in NJ for a multifamily property?!?!

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Check Rosette Top Subjects:
Taxes & Accounting, Real Estate Finance, and Traditional Financing
  • Posts 148
  • Votes 49

NIcholas Hamel

posted about 2 months ago

Hey everyone, looking for some advice here. I am under contract to sell a condo that I own in northern new jersey. I live in Monmouth county. I want to 1031 into a 2-4 unit multifamily property (preferably 4) Ive been looking through the MLS constantly and not much seems to jump off the page at me. I could really use some ideas. Thanks everyone!!

Nick

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  • Posts 37
  • Votes 14

Wayne Loux
Realtor from Warren, NJ

replied about 2 months ago

Hey Nick thanks for the follow and great question, the market is pretty wild right now.  I would highly recommend hunting off market. I was recently fortunate enough to put two multies under contract in ocean county that I stumbled upon through a neighbor of a place I already own.  Hit the markets you really want to dive into and put some feelers out with multies that interest you.

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  • Posts 52
  • Votes 9

Brian Allen
Real Estate Agent from Rumson, NJ

replied about 2 months ago

Hi Nick, I'm an Agent here in Rumson - yes the market is a little insane right now.  But if you ever want to chat, let's connect for a bite or drink (coffee, libation, etc) - have a great day!  -Brian

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Check Rosette Top Subject:
Taxes & Accounting
  • Posts 2.3K
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David M.
from Morris County, NJ

replied about 2 months ago

@NIcholas Hamel

There are some out my way, but in this market its not a great time to buy, unfortunately.  Other than off market, your better bets are in the eastern portions.  In the western portion, there are some, but I'm not sure if want something that far away from you...  Let me know if I can help.

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Check Rosette Top Subjects:
Taxes & Accounting, Real Estate Finance, and Traditional Financing
  • Posts 148
  • Votes 49

NIcholas Hamel

replied about 2 months ago

@Wayne Loux . Thanks for responding wayne, I cant seem to find many properties where the numbers work. I found one gem but my property wasnt sold yet so I was kind of screwed. Off market was exactly what I was thinking. I need a good agent who is knowledgeable when it comes to investment properties

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Check Rosette Top Subjects:
Taxes & Accounting, Real Estate Finance, and Traditional Financing
  • Posts 148
  • Votes 49

NIcholas Hamel

replied about 2 months ago

@Brian Allen thanks for the invite Yea lets talk soon. Ill send you a message

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