Investing & Developing in Essex County NJ Group

[Jacques Simon]

Hello, fellow investors and developers, my name is Jacques and I am a beginning real estate investor & developer focusing in Essex County NJ. As we all know, all real estate is local and my ultimate goal for this thread is to bring serious investors, developers as well as other relevant market professionals together to share our current research, ideas, and strategies specifically in the Essex County New Jersey area.

5 Core Ground Rules for this thread:

1. Please keep it professional and on the topic of investing in Essex County NJ

2. Try to filter out political comments and keep it positive and productive

3. Make sure to introduce yourself, we're a family with similar goals and aspirations

4. Ask questions, be honest as we all start somewhere and we're all here to learn and share

5. At last, have fun and network!

Cheers!

J.Simon

[Jacques Simon]

Originally posted by @Andrew Ceris:

Hey guys!  So I've been interested in the Newark area a while as well.  Haven't purchased anything yet but the area looks very promising.  I was born and raised in Brooklyn, NY, and to me Newark seems to be undergoing a similar change as Brooklyn, I would strongly recommend (based on the little knowledge that I have) that if you have the means, to try to invest there.  @Jacques Simon, a lot of the people that I have spoken to say that Newark offers better opportunity for fix and flips rather than fix and holds.  What say you?

I'd argue the opposite, that Newark is more of a buy and hold as tenants will be transplanting form JC and other expensive parts of Hudson County and even some parts of New York. With that said, the city is going through its early phases of revitalization and will look riskier for more risk-averse developers. I follow big money and see what they are building in a specific redevelopment zone, if big developers are building condos it's a buy and sale zone, if they are building apartments for lease it's a buy and hold area. But, that is just my analysis, the side of the argument can be valid as well.