Investor · Lodi, NJ · Member since 2013 · 487 posts · 179 votes
Is anybody currently investing in the Newark NJ area? I know the city has been improving and trying to drive in new businesses over for last 10 years. Just wondering if anyone has been investing in properties here recently and has seen a difference in potential..
Investor · Tampa, FL · Member since 2013 · 2k+ posts · 1k+ votes
13y
I'm not however what type of investing are you looking to do: Flip or rent out? I do have access to heat maps which show what areas of Newark have increased or decreased over the past 12 months. Just let me know.
I'm not however what type of investing are you looking to do: Flip or rent out? I do have access to heat maps which show what areas of Newark have increased or decreased over the past 12 months. Just let me know.
New York City, NY · Member since 2016 · 1 post · 0 votes
10y
Sorry for replying to this thread so late, but I am interested in purchasing my first investment property in Newark and would be interested in hearing from anyone actively investing there now. I'm curious about whether the area seems like a good place to invest, including any drawbacks/lessons learned from investing there. Thanks in advance.
Newark, NJ · Member since 2016 · 37 posts · 9 votes
10y
Hey guys, sorry to bring up a old thread. I'm new to BP (having the hardest time uploading profile pick ) and REI. I've been doing my due diligence learning the industry so I have a base concept of REI I'm also in the process of becoming licensed I've completed the required credit hours just have to successfully pass the RE exam.
My medium term goal is to house hack my first property by the beginning of next year (Jan-Feb 2017). I'm looking for a duplex in Newark. I'm from Newark so I know where most of the war zones and developing areas are.
If any one can give me some advise on; pitfalls, technique, or ANYTHING I would truly appreciate it. I'm ambitious but I know I still have a lot more to learn. I would love to connect with a REI vet in the area if possible.
Investor · New York City, NY · Member since 2015 · 49 posts · 24 votes
10y
hey everyone. I am also a new investor and my business partners and I were also looking into the Newark NJ area. Specifically speaking, something in the Ironbound district. As of this post I am in NJ scouting different properties that have potential for buying rehabbing and renting (we plan on buying and holding our properties for a while.)Ibrahim Hughes , You know the most about the Newark area, is there anything My partners and I should know about the Ironbound district that would help us with investing around the area?
Newark, NJ · Member since 2016 · 5 posts · 3 votes
10y
I know this is an extremely old thread but I came across it so why not give it a shot and see if anyone responds. I just purchased an investment property in Newark NJ this past week. Seeking tenants but trying to find the best way to find good ones for my house. Any advice or help? I've listed it on Craigslist and some other online outlets and was told the interest would be pouring in but I haven't seen it yet. The place is new construction 2 fam house, garage, upgraded kitchen and bathrooms, huge Windows, hardwood floors, backyard. And I can go on...
Houston, TX · Member since 2016 · 34 posts · 9 votes
10y
@Summie S. Hi! sounds like a great property in Newark.im sure you will have people calling soon enough...maybe your rent isnto high for the area? even though its new construction?
Investor · Somerset, NJ · Member since 2012 · 95 posts · 45 votes
10y
@Sumana Som
the FOR RENT sign can gets more calls than online ads ( depending on the area ).
Not sure if you have tried this yet. To avoid getting people who can't afford it, you may want to put the monthly rent on there and a description. You can also make the tenants pay for the screening if you are concerned (assume your price point has renters that will do this).
Investor · Newburgh, NY · Member since 2016 · 34 posts · 28 votes
10y
@Ibrahim Hughes. Interested in investing in Newark near the hospitals. How is the Weequahic section near Beth Israel? I heard Rutgers is expanding their campus and footprint in the area
Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
9y
Michael investing near the hospital is pretty good if you are south of 9th Avenue going towards Hillside. North of Lyons Avenue and it's a block by block case. Also good blocks will be either below Bergen Street going to the park or on Lehigh Avenue which isa pretty decent Street.
the entire University Heights section, which includes Rutgers NJIT and Essex County College, is a pretty good area to invest. The addition of teachers Village has made it stronger. Very low inventory in that area.
Investor · Parsippany , NJ · Member since 2015 · 7 posts · 3 votes
9y
Hello everyone, bringing this thread back from the dead, young investor here currently house hacking in north jersey and looking into Newark for my 2nd investment. Currently using Newarks zoning map to find the 2 and 3 family areas and weeding out the single family ones. I've been looking in the Weeqahic area, Lower Vailsburg near seton hall, springfield/belmont and upper clinton hill areas. Staying away from the westside but I feel eventually that'll clean up eventually. Plan on providing section 8 since its less of a risk as far as getting paid but more of a hassle, I know. Are these solid areas to look into ? Any suggestions on a solid realtor that knows newark more ? Thanks everyone
I am looking to obtain a 2 family, possibly 3 family in North Newark for 185k. Very close to the light rail. I am not familiar with Newark at all so I'm trying to determine whether this will be a good investment. Looking to buy and hold. Any feedback would be greatly appreciated.
Investor · East Orange, NJ · Member since 2016 · 19 posts · 1 vote
9y
@Nicole Oribhabor The North Newark area is decent and close to the light rail. You should be able to find a property for your price range on the north # streets but you may have to do some work. The Ironbound section is also good and close to the train station but it is very pricey there.
Rental Property Investor · Long Island, NY · Member since 2015 · 490 posts · 301 votes
9y
@Nicole Oribhabor you shouldn't have a problem finding a property in that area in that price range. You can definitely get a smaller house that is already cash flowing for that price. I think youll do pretty well froma cash flow standpoint but you really need to do your research on the block where you plan to purchase because some blocks in north newark can be really tough. I own a few properties in the area so id know.
Brooklyn, NY · Member since 2016 · 115 posts · 40 votes
9y
Hey guys..
Sorry to join the bandwagon but I'm a new investor. Well more like an inspiring one because I haven't made my first deal yet. I'm looking at a Newark option in the South Bound section near Penn Station. I'm from Brooklyn, NY and don't have a clue as to what a good investing area in Newark or NJ is for that matter as I'm just getting my feet wet. The taxes always throw off my interest on a property in NJ. I would like to find an Owner occupant property to start with and then leverage from that point. I'll take any advice anyone has to offer in this area and surrounding areas as far as best course of action.
@Ibrahim Hughes You seem the most knowledgeable. I'd appreciate your feedback.
Investor · Yonkers, NY · Member since 2016 · 41 posts · 7 votes
9y
@Smana Som hope your renting process went smoothly . I just want to see how the renting process went over all . Im in contract for a purchase but im a little concerned about trying to rent .
Clifton, NJ · Member since 2016 · 13 posts · 2 votes
9y
@Ibrahim Hughes, I am very interested in investing in Newark, do you go to any local REI meetings where we could meet and discuss your prespective on the potential there?
For marc S I am a wholesaler in NJ I actually have 57 fabyan place under contract it got reduced to 185k I have it under contract for 172.5 and even at those numbers no one wants it it is a very tough section and the turn over rate is very high and the repairs are 75k I see other people marketing it for 45k in repairs and they are crazy
I know this post is about a year old , I am surprise to see that this 6 family at 57 Fabyan pl Newark Nj is now on the market for $550,000
Newark, NJ · Member since 2015 · 162 posts · 102 votes
9y
With so much interest in Newark from people who haven't bothered to even visit the city, I'm not surprised they're asking for that much for that property on Fabyan Pl. It'll be interesting to see how long it sits on the market and how much it actually sells for.