First time investor in Northern NJ
Hello,
My name is Mich, I'm a 22 year old working and going to school full time. I've always had an entrepreneurial mind from a very younge age and I've recently been attracted to real estate investing after coming across BiggerPockets on a post on Entrepreneur.com.
Im interested in investing in a multifamily property and renting out the rooms.
live in Paterson, New Jersey where property taxes are high and house prices are too much. I'm open to investing in cities outside of my own but I wouldn't want to stray to far away because I will be the one managing the properties so the less I have to travel the better.
To me, It seems that 4PLEX properties are the best option for the prices in this area and beyond, what do you guys think?
Are any of these properties worth the risk?
Can cash flow of at least $100/unit be achieved?
Please let me know if you need anymore information to better access my situation, THANK YOU!