Investor · Morris Plains, NJ · Member since 2017 · 294 posts · 47 votes
Hello All! I am new to the forum and I am really excited about REI! One thing that amazes me is how helpful everyone seems to be!
I am looking for area's in NJ that would allow to me to buy and hold especially using the BRRR method.
Does anyone have any experience with the Hopatcong NJ area? This is one of the area's that seems to interest me. What can a typical 3 bedroom, 2 bath rent for? Will I have a hard time finding renters?
Does anyone have a way for me to look at rental prices other than comparing them on trulia etc?
Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
9y
From what I know about that area the property values (at best) are flat over the past few years. The town is littered with people rough around the edges, also has a bad heroin problem. You might be able to cash flow but I would absolutely NOT expect appreciation out there. I'm sure there are people making money in that town just like any other but that's my 2 cents.
Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
9y
@Rigo V. I lived in Mount Olive for a few years which is a town near Hopatcong. I never invested there but I'll give you some info about the area. @Peter Tverdov was correct in his last statement about the area the better pockets of the area wouldnt be ideal for rentals. The path of progress isnt going through that area anytime soon as the area isnt located close enough to a major city or hub of any sort, most people commute eastward for work as there arent many high paying jobs in the area.