Investing in Union City, NJ

7 Replies

Hi All:

I am looking to invest in multifamily rentals in Hudson County, NJ, specifically Union City, Jersey City, North Bergen, West New York, etc.  It seems like the market is pretty hot right now and no one is really sure when the next downturn will hit but still want to dip my feet in the market.  Ideally looking for 3-unit properties around $500k.  I've been on loopnet and mls but deals still trying to get my bearings.  Any pointers from other investors in the area would be much appreciated.  Thanks in advance.

KP

@Na Parsons , you should definitely check for BP or Meetup events in the area as I know that there are at least 1-2 events in this area every week. You can use these events to network w/ fellow investors and possibly make contact w/ a few wholesalers. While you certainly can try the MLS for this area, as I'm sure you've already found, this area is pretty heavily-followed and you'll have to be quite tenacious/persistent if you go w/ that strategy. PM me if any further questions.

This post has been removed.

Originally posted by @Marc Weisi :

@Na Parsons , you should definitely check for BP or Meetup events in the area as I know that there are at least 1-2 events in this area every week. You can use these events to network w/ fellow investors and possibly make contact w/ a few wholesalers. While you certainly can try the MLS for this area, as I'm sure you've already found, this area is pretty heavily-followed and you'll have to be quite tenacious/persistent if you go w/ that strategy. PM me if any further questions.

 KP and Marc,

Nice to meet you both. I am also a relatively new member to BP, and I am looking for the same thing (multi-unit in Central/North NJ). I have recently joined SJREIA and went to the last few meetings there, but that is Southern NJ. What areas or towns do you recommend looking into at the moment for a triplex or quad that has good cash flow? Also, what meetings take place for North NJ? I am interested in attending those. 

I can connect you with someone who does wholesale deals in bergen county and he is also an agent so he ay know of a few deals shoot me a message

We found our duplex by driving to find a vacant one and having our realtor contact the owners. MLS was little help when we did our search.

This area is infested with investors as you could probably tell by living in the area. I have tried this route before but did not find much luck. I found great homes and must have put an offer in on 5 houses at least but there are heavy players out here who purchase all cash, which pushes the investors trying to use leverage to the side. As @Malia B. said MLS will be very little help if you are using leverage. If you aren't and you are all cash you can do really well out here.

Best of luck!

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