4 Unit in East Orange, NJ

[Anthony Caleca]

Curious if any BP have any experience with buying rental properties in the East Orange, NJ area. I know it is far from the best neighborhood but the property is relevantly cheap, and there is a lot of opportunity to scoop up 2-4 unit multifamily homes at a cheap price.

I say cheap because I live in New York City, and nothing is cheap real estate wise, so I am exploring parts of nearby jersey for more cost efficient options. my friend just bought a property in East Orange as well (its his 4th investment property) and he says he will be buying as many multifamily homes as he can out here over the next 3-5 years.

here is what monthly expenses/income looks like monthly and annually. If you have any experience with East Orange please comment

[Ryan Goldfarb]

@Anthony Caleca

Do you have taxes and insurance factored in there? I didn't see them broken out, but maybe they're embedded in one of the other expenses.

As for East Orange, big factor here is where within EO the property is located. There's no substitute for driving the area and learning it block by block.

Also, double check their rent control ordinance. I can't remember if it kicks in for 4-unit buildings or 5-unit buildings.