Aspiring RE Investor from Central NJ
Hi BP! I hope everyone is well. After listening to numerous BP podcasts over the past several months, I felt it was time for me to jump in and become an active member of the site. I am looking to purchase my first investment property in either NJ or eastern PA. Any suggestions as to specific markets with good school districts and solid cash on cash returns would be greatly appreciated. Thank you, kindly.
Most Popular Reply
@Jason Clarke
As a general rule, in NJ, areas with good school districts have lower cash on cash return because they are desirable places for families to live.
Less desirable places command a higher Cap rate which translate into high CoC depending on the level of your investment.
So a combination of good school district and solid cash on cash return is hard to find, in NJ. I guess it is the same in PA.
You also need to consider what your purchase price range is.
That would dictate where you should be looking.
If you spell out what cash on cash return you are looking to achieve and your price range is, you might get more precise answers from fellow BP members