Lansdale, PA · Member since 2016 · 1 post · 1 vote
Hello BP community!
I'm new to real estate investing and want to purchase my first property in New Jersey. I heard that North Brunswick, NJ is good area to start the journey. I’m interested in multifamily units or Town home. Any advice on North Brunswick or other areas I should be looking? What would be the impact of the Transit Village plan for North Brunswick that going to build whole village around NJ transit corridor? Any negative impact to investment due to this? I would love to hear from some seasoned NJ investors. Thanks.
New York City, NY · Member since 2016 · 4 posts · 1 vote
10y
Hi Vrajesh,
I've got the same question as you. From what I can tell, it seems that much of central NJ is expensive in terms of price/rent ratio. I started looking in Edison, since that's where I grew up, and I've also looked into Rahway/Cranford area, which could offer better opportunities, but I can't say for sure yet. I'm willing to do the research to find a good deal, but it would be great to have a bit of direction in terms of location.
Flipper/Rehabber · Central NJ · Member since 2014 · 49 posts · 16 votes
10y
@Chris Ragazzo@Vrajesh Shah I have a 4 family in need of rehab in Rahway but can offer great returns. Also have inventory all over north and central NJ, please reach out if you're interested in seeing anything.
Investor · Somerset, NJ · Member since 2012 · 95 posts · 45 votes
10y
I would avoid New Brunswick as the cap rates are not great and the town sucks to deal with as a landlord. All the better housing is closer to downtown and very expensive anyway. There is no guarantee that the transit village will go through as its been talked about for a long time and requires huge funding from the state which may not come forward. However, if it does, I don't think it will take away much as down town New Brunswick is popular more due to the restaurants and proximity of train station and I don't see anything changing.