Apartment Complex Investors in NJ

9 Replies

Any apartment complex investors in NJ? After speaking to a few investors, they seem to avoid NJ like the plague when it comes to apartment complex investing. I would prefer to stay in my own back yard (North Jersey - Central Jersey), but I would love to speak to someone already investing in the area. Lets Connect!

@Jake Taylor

Numbers are hard to make work. New developments and government kickbacks are the only way to play without really getting tarred. I have invested before, and there still are some decent deals in a couple small markets. But it's tough compared to the numbers you can find in the south and midwest.

You want to avoid apartment complexes in NJ because taxes are high and landlord laws suck. If you have a 40-unit apartment complex, there's a high likelihood you'll be trying to evict at least 2 people a year and it will take you anywhere from 2-6 months to do it. The other option is to find apartment complexes with companies that are motivated to sell, that way you might be able to get the property at a discount. But those are difficult to find so you just have to be patient and on the lookout.

@Jake Taylor I think most of the comments here are reflective of the situation in North/Central Jersey. In South Jersey taxes are low-ish, purchase price is considerably lower, and rents are still high. Small apartment complexes (6 to 30) unit buildings are very viable if you can manage them well or put a property manager in charge that can manage them well. There are deals to be found in Cumberland, Salem, Atlantic, and Cape May counties. If you DM me I can get you in touch with a few small apartment owners down here.