I have been looking in Brooklyn, LI, and Harlem but have been priced out at this point and don't feel its the highest use of capital at this point. I currently own 18 properties in the Northeast and am now looking to pick up more product in primary markets surrounding NYC.
A couple of questions looking for feedback here regarding West New York and Union City NJ
- Does anyone invest in these areas and want to get a cup of coffee to discuss their strategy and successes?
- Who are the top brokers and deal junkies here that I should get in contact with?
- How would you recommend sourcing deals in this area?
- Is anyone a wholesaler in this area that is looking to add a buyer to their list or partner up?
- Is anyone a flipper that would like to partner up with a buy and hold guy.
- What are peoples thoughts on this market overall?
All feedback appreciated.
@Zachary Feldman I'm a lender specializing in multifamily investments, I cover the area of NJ you are interested in we should connect.
@Zachary Feldman You're looking at very competitive markets with tight rent control rules. It might be slightly less expensive than NY Boroughs but still expensive market with NJ taxes in a tenant friendly State.
Anyway, I hope local expert such as @John Errico can shed some light for you. Note, John also runs a local meetup in the area which you should attend.