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.
Hoboken, NJ · Member since 2012 · 25 posts · 4 votes
9y
Glad I found this thread. Another thing about Newark that I find very interesting is its property tax is literally sky high! Everybody knows NJ has the highest property tax. But even by NJ standard Newark's tax is crazy. I myself live in Hoboken and invest in Jersey City, our effective tax rate is roughly about half of what Newark charges. Anyone can help me understanding why???
Newark, NJ · Member since 2017 · 20 posts · 6 votes
9y
I am a first time investor in Newark. Contrary to some of the comments here, I took a chance and invested in the West Ward. Rutgers acquisition of the old UMDNJ as well as the investment in the area - Shoprite Shopping Center, 25 Jones Street Luxury Apartments, etc is what caused me to choose this location. Thus far I own a 2 Family off of South Orange Ave and in the 7 months I have owned it, it has appreciated 14%. I definitely encourage people who are looking to invest to not be afraid and take the leap.
Investor · Hoboken, NJ · Member since 2016 · 8 posts · 2 votes
9y
Hi! I would like to know where we stand with health of Newark market for flipping today vs. 3 years ago when this post started ? What are some sites/tools can I use to identify what area is in the demand ?
Newark, NJ · Member since 2017 · 17 posts · 4 votes
9y
I am a Newark native and know pretty much everything about the neighborhoods feel free to ask away.. If you can get anywhere near downtown..OMG the city is booming down there. So many developers down there and major business coming in the city.
Lyndhurst, NJ · Member since 2017 · 4 posts · 2 votes
9y
Hey guys, just joined! Can anyone provide an example of a recent deal they did in Newark? I'm about to close on a deal in Newark. I will disclose more once the contract is executed.
I think what would benefit this post is actual people with actual deals.
Clifton, NJ · Member since 2016 · 13 posts · 2 votes
9y
@Ibrahim Hughes - Thanks for keeping me in mind, I'm sad that I can't make it however because I broke my leg and getting around is quite a challenge :( ....I actually got the meetup email for it and saw that you were attending so I really did want to get the chance to meet but I guess it will ave to wait for next time.
Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
9y
@Ibrahim HughesI know this forum post is over a year old but I'm reaching out because I'm currently looking at properties in Newark for a BRRRR/House hack but I'm concerned about appreciation and ARV. Im also looking for a solid mentor to learn from, I have no problem making phone calls and partnering on future deals to create a win-win-win scenario. Thanks in advance for your help
Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
9y
@Ibrahim Hughes Hey how you been man? Haven't talked to you in a while. Let's connect, catch up alittle bit.
@Vaughn Smith Whether the post is old or not, As soon as you comment on it, it goes back to the top of the list at the discussions. You are on the right path just make sure that you focus on the right sections in Newark. Not all sections are good and some of them might be a headache that you don't want to deal with. If you need help determine ARV, find someone that is good in Newark because it is very very block-to-block over there, so I wouldn't be able to tell you the ARV over there as accurately as some people would. Come down a little more south the Union County and I'll tell you what you can sell a house for the the penny. Connect with me if you have any questions, I will always do my best to help someone out and answer to the fullest of my abilities.
Newark , NJ · Member since 2017 · 9 posts · 2 votes
9y
@Ibrahim Hughes you seem plugged into newark. I just signed into bigger pockets. Been an investor in Newark for about a year now. Let me know when you guys have another meet up. Also looking for my next acquisition out there
Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
9y
@Mateusz Prawdzik Thanks for reaching out and for the info about posting. I agree Newark is definitely a nuanced area. Ive done a lot of research on the area, and found a few of the "good" and "bad" pockets based on statistics. Im going to start to spend some time there later this week to get a better feel for the area. Im definitely going to reach out to you about ARV in general as I try to establish a system to accurately calculate it.
Investor · New York City, NY · Member since 2016 · 13 posts · 7 votes
9y
hey guys, I've been looking to invest in Newark for some time now, so definitely do keep me posted on upcoming meet ups - would love to network and connect, and hear about people's experiences. If people are looking to partner up on deals, I'm interested to hear about it as well, so feel free to PM. Thanks!
Investor · Portland, OR · Member since 2015 · 2 posts · 2 votes
9y
Hello all,
Long-time pod-cast listener, multi-state cash investor looking to start investing in Essex county. Will be in Newark in a few weeks. Looking to meet with real estate professionals and participate in any group meet-ups to build the team necessary for successful investing in the NY/NJ area. Thanks, DH
Investor · New York City, NY · Member since 2016 · 19 posts · 8 votes
9y
Hi BP,
I am currently wholeselling in Newark, Nj. I'm learning a lot and hoping to learn more and I'm looking to connect with investors and other professionals because I'm coming across some deals.
Please feel free to reach to me. I am
Looking to contribute what I can as well!
Regards,
Jeff
Rental Property Investor · Brooklyn, NY · Member since 2016 · 15 posts · 8 votes
8y
Just recently closed on a 2 family in Forest Hills section of Newark. About 8 min drive from Downtown. Would love to be part of the next meet-up and would love to network with investors around the area. I figured getting the first property was going to be the hardest so I'm looking to move from here.
Investor · Jersey City, NJ · Member since 2017 · 4 posts · 2 votes
8y
Hello,
Let's try to revive this old thread.
I am new to both Newark and REI so I'd appreciate any pointers. I spend some time in most if not every area and saw about 20 30 properties. Of course my knowledge did not scratch the surface. I am interested mostly about which parts of the city or better/worse.
I am closing two deals:
- 4 family in Weequahic
- 3 family on West Side near Home Depot
- I also have an opportunity for 4 family in Lower Vailsburg - This is the one I am worried the most. The street looks decent, but current renters have extremely low rent. I saw other blocks in this neighborhood which were much worse ( and I wouldn't buy there)
@Ibrahim Hughes - I would like to pick your brains on that if possible. Will be happy to share more info
@ Omar Ismael - you seem knowledgeable about the area, any thoughts would be really helpful.
Rental Property Investor · Jersey City, NJ · Member since 2017 · 104 posts · 53 votes
8y
@Lucas Polski , IMHO I'd say choose selectively in Lower Vailsburg. Having grown up very close to it and having family in the area still to this day, some of these streets are hit or miss. The closer to South Orange the better in my opinion.
Investor · Jersey City, NJ · Member since 2017 · 4 posts · 2 votes
8y
@ Marc Weisi it is on Norwood St., between S Orange Ave and 18th Ave. Would you consider that a decent block? The current rents there are extremity low $600-700, I do not know much about his area.