Buying Rental Properties in Elizabeth, NJ
Hi Everyone,
I am looking to buy my first rental property. I have come upon an opportunity to buy a Multifamily rental property in Elizabeth, NJ. The seller says that Elizabeth is a great place to invest because it has the most train riders in the area and is a growing area. The property already has tenants, one section 8 and the other cash paying. This property also comes with a 2 year home owners warranty from American Home Shield to cover any repairs.
This looks like a good opportunity but I am kind of hesitant. Is Elizabeth a good place to invest ? Not really sure if it is a safe area and whether I will be able to manage the tenants.
Any advice or experience in this area would be appreciated as this is my first time and I am not sure of what exactly I should be looking for ?
Thanks