Newark NJ multi family investinf

7 Replies

I’m currently in the market for rental properties in Newark NJ, in the process of acquiring one in the Upper Clinton Hill section of Newark.  Does anybody here currently own in that area? Can you tell me about the area?  

I am an licensed agent, looking to invest in multi family homes... currently in the running to acquire a property in that area.  Not familiar with it, know north Newark, but the investment opportunities are slim in north Newark.. 

What kind of property are you looking to get? An A,B,C, property. I ask because when i was looking over there, i realized that a lot of the properties were renovated with the idea that someone with Section 8 will live there. Nothing wrong with that but because i was looking for my first property, i decided to find a B+ property even though it was less cash flow, it was a better way to start for me. @Nestor Rosero

Do you have any specific questions? I have a portfolio across all the wards of Newark, and its literally block by block for the majority of the city. You can be successful if you manage properly and underwrite your expenses correctly.

I see lots of people coming into Newark without properly understanding the challenges of management, and the cost of doing business in the city, and its driving prices up as people are overpaying. 

If you have a specific questions I am sure we could be of more help 

Also theres lots of other threads on here about Newark NJ probably worth checking out

@Steve Wilcox hey Steve Im a spec home builder/developer in NYC and was looking at a 4 family in the vailsburg section of Newark would be looking to be all in at around 260-275k...how do you feel about that carrying cost? Additionally you mention it must be managed properly and the expense of doing business in the city, can you provide some detail as to what exactly is meant? Thanks!