Newark, New Jersey - BRRRR

[Laurence Fru]

Hey all,  
Happy Holidays! 

I've set myself a target of BRRRR'ing two properties in 2020. I'm based out of Jersey City and looking for somewhere local to start out.

Having looked at Newark, it seems there’s a good opportunity there. As such, I wanted to see if anyone else owns rentals in the area? I would love to network with anyone who owns in or around the area. 

I’ll be starting out smaller - and needing to finance a portion of the purchase if it needs substantial renovation. 

Would love to grab coffee with anyone who is in a similar position 👍

[Jonathan Greene]

You have to learn Newark before committing to a purchase. Newark has some very good spots for BRRR and even some of the spots that others will discourage, I find still have some value at the right price. Newark gets a bad rap a lot of the time, there are many parts of Newark that are solid and you can still get many deals there. Newark values can run differently block by block based on the amount of foreclosures or burned out homes that have not been renovated or kept up. Absentee properties can be an issue as well, but I do like Newark as a spot to BRRR.