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Angelica Polio
  • Homeowner
  • Clifton, NJ
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North Jersey Real Estate

Angelica Polio
  • Homeowner
  • Clifton, NJ
Posted Jun 9 2021, 13:31

Hi all, 

My husband and I are trying to purchase our second property in North Jersey. We have a duplex in Clifton, NJ that was purchased back in 2015 without using the BiggerPockets principles. This time around we are trying to follow the suggested percentages but we can't seem to find any properties that bring in at least 8% CoC. Our best options for move-in ready are around 5-6% and even those offers are not taking. We are also trying the BRRR approach where we have CoC around 4%-5% at current rents and plan to update to increase to 6-8% after updates. For the most part, we're focusing on Clifton, Rutherford, Montclair, Bloomfield and West Orange.

I was wondering if there are any seasoned North Jersey investors out there that can provide some insight. Is what we're seeing currently due to the market, or does this area traditionally work differently or different percentages? Just interested on what approaches are out there. 

Thanks! 

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