Fort Myers FL vs. Bayonne, NJ
Hi everyone! I am looking into purchasing my first 2family investment property (first from the asset class perspective - was investing in SF/condos) and deciding between 2 areas - Fort Myers, FL and Bayonne, NJ - around $450k.
In FL it will mean a newer property, less renovation and in NJ probably an older one with some renovation/updates required. Curious to hear any feedback from the investors in both areas regarding tenants pool, demand, potential for appreciation etc.
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NYC is dying so a lot less people need to be in the area to commute to it. People work from home in rapidly increasing #s. I know Bayonne well and I would not go anywhere near it as an investor. $450k wont do much up here. In Fort Meyers you have a different story. I'm actively investing in SW Florida for a reason. You will find a duplex that rents very well in a landlord friendly and legislatively superior state. There is a reason people are leaving NY and NJ in massive #s and going to the sunbelt. Put your money in the path of migration.