I’m ready to buy my second multi family house in New Jersey, and I was wondering if someone could recommend me a good town to invest around central Jersey. Thank you
Great Question @Randall Esquivel I look forward to the replies. I was just talking about this area. Thanks for asking.
Expensive properties, high property taxes, negative migration...I don't know how some people make it work.
@Randall Esquivel NJ can be very lucrative for buy and hold MFR. High taxes and expensive properties but with that comes high rents and quality tenants. If you implement the right strategy you can win big. What town is your current MFR in?
@Shawn Mcenteer is in Plainfield!
Is not the best place to be but it works for me, the problem I have is that now everything is to expensive! So I was wondering if can try to buy somewhere else
@Randall Esquivel I had the same problem in 2015, then again I had that same problem in 2018... I personally don't think that expensive is going away just make sure your plan allows for rent to cover your expenses.
@Shawn Mcenteer I will, thank you
Depending on how much your looking to spend, I would say buy a property in New York City and rent it out as rooms. It’s way more profit in that. And you can always sell as an already Established and fully Functioning investment property with Instant Revenue. @Randall Esquivel
@Brandon DeVega thank you for your advice! but I don’t have enough money for that, maybe is something to consider on the future. Thank you ￼
Depends where! Generally, NJ is quite dense so it does have high occupancy and high rental rates. But NJ is sort of like all 50 states of the US in one.
You have bougie, expensive markets. Lots of "ghettos". Dense working class neighborhoods. Spacious working class suburbs. Farms. Etc!
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