Ringwood New Jersey: Rising Market?

Question

Hey BP community!

Ringwood, NJ has been very popular in my search for properties (buyers & sellers). Is this coincidence, or is Ringwood (Passaic County) up and coming?

Taxes are cheaper than Sussex and NYC buyers are taking a second look.

Any investors doing deals in Ringwood and surrounding towns with good results? Chime In!

Let's win together,

Errol Watson

Errol Watson · Answer

oh wow, thanks @Judy P. !

I'll have to look into that.

Judy Parker · Answer

@Errol Watson Be careful of Ringwood, NJ - contamination up there.

RINGWOOD, N.J. (CBSNewYork) — The contamination has spread further than anyone imagined.

Lead levels in homes just outside a New Jersey superfund site have been found to be dangerously high and that has some observers demanding quick action

Paul Siljee · Answer

Hey I am located in North Haledon, about 20 minutes from Ringwood.  We are are looking for multi family deals.  Contact me!

Errol Watson · Answer

Google maps says Ringwood is Passaic County. RidgeFIELD is Bergen County.

I market to multi-family investors, but I focus on distressed, SFR flips.

MLS deals and Off-Market deals.

My concern on investing in this area revolves around DOM (days on market) for flippers.

Chris Masons · Answer

Hi Errol,

I primarily invest in Union and Somerset County. I believe Ringwood is Bergan? Are you speaking of single family or multi family homes? Generally the stuff I have seen up that way tends to be harder to make a decent return due to the high taxes and price point.

Are these distressed homes or stuff on the MLS?

thx,

Chris