New York, NY · Member since 2017 · 3 posts · 4 votes
Hi All
New investor currently living / working in Manhattan. Looking for insight on potential towns to invest in that are reasonable commutes to NYC (midtown / downtown). Interested in a fixer upper / multifamily investment in an up-and-coming area. I look at the MLS daily but theres so much out there, looking to hone in on a few specific towns /areas ideal for a young married couple hoping to start a family soon. Any suggestions? Primarily looking in New Jersey, open to anything north/west of NYC.
Jersey City, NJ · Member since 2018 · 2 posts · 1 vote
8y
Look at Jersey City, NJ...Via PATH train, its a 15 minute commute to downtown WTC area and 25-30 minutes to Midtown, Penn Station area. While Downtown Jersey City is expensive, Journal Square area is moderately priced and the Greenville area is lower-priced as it is challenging/up-and-coming.
Jersey City, NJ · Member since 2018 · 2 posts · 1 vote
8y
Look at Jersey City, NJ...Via PATH train, its a 15 minute commute to downtown WTC area and 25-30 minutes to Midtown, Penn Station area. While Downtown Jersey City is expensive, Journal Square area is moderately priced and the Greenville area is lower-priced as it is challenging/up-and-coming.
Rental Property Investor · Northern NJ · Member since 2016 · 341 posts · 144 votes
8y
Mark McDonnell You should definitely have a look at Bayonne, in Regards to Jersey City Greenville section still has a long way to go, rather have a look at Bergen Lafayette,
Real Estate Agent · Jersey City, NJ · Member since 2014 · 218 posts · 50 votes
8y
Hudson county in NJ is a good place to explore: Jersey city, union city, weehawken, west new york/guttenberg, and north bergen. They are all very close to the city, via bus, ferry, or path trains.
Among those cities, i think Jersey city is the biggest. it has three path stations and three ferry stations that connects to NYC. the prices and areas vary a lot in jersey city. Union city and west new york are very smaller cities but very populated, from where you can get to the NYC through different bus lines. Weehawken and north bergen are more family oriented places and have a lot of nice houses.
Real Estate Investor · Philadelphia, PA · Member since 2010 · 283 posts · 81 votes
8y
I know a lot of people from NYC that invest in the Philadelphia and Trenton area. It is close enough to get to and you will get a lot more for your money,
Some places are already very expensive: Hoboken, Newport. But if you take a look at Harrison, Newark, you might be able to find some deals close enough to NY
Jersey City, NJ · Member since 2012 · 93 posts · 32 votes
8y
Hi @Mark McDonnell. We live in the Journal Square section of Jersey City and many people might disagree but I don't want to raise my future kids in that neighborhood at all. We live just fine house hacking there but I would look at the suburbs close to NJ Transit like Montclair or Bloomfield to house hack and raise a family. There's decently priced housing (depending on what you think is reasonable) that you can get with an FHA loan and house hack.
@Mark McDonnell Bergen county. You have a bunch of towns that have a great commute into the city and are starter areas for new families. Maywood, Hackensack(it’s getting better focus on the side closest to Maywood), Lodi, saddlebrook, allendale, oradell, etc. the list goes on and on.