Lender · Essex & Union County · Member since 2018 · 45 posts · 36 votes
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
My name is Kareem I recently closed on a multifamily home in the port section of Elizabeth. I'm aware that's not Essex but extremely close. I've been looking to add wholesaling to my arsenal. If there's anyone in here with wholesaling experience I'd love to discuss.
@Jacques Simon Thanks for starting this great thread! I'm a potential investor still in research-mode hunting for my first deal (small multifamily) and have been drawn to Newark for various reasons (although have been a bit dejected to find many believe that appreciation has already driven away all the good deals). Started full time work in the Central Business District this year, so hoping Newark will be a promising city in more ways than one moving forward!
hi I might be off topic but my girlfriend I live in Orange New Jersey, We just passed our school real estate test for New York we are preparing ourselves to for the state test our goal is to buy our 1st 4family house property in west Orange, Bloomfield and Montclair. Any advice for us as newbies lol ☺️ Glad I can find some people here from jersey.
@Thomas DiMeo Newark still has a lot of deals as it is just getting started really, so don't be discouraged by seeing all these new developments, they help stabilize the area for smaller investors like us.
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?
Ive seen a few things in Newark, and understand that it can vary even block by block. I would like to find something in Newark to invest in, instead of going out of state for the same money, though. Id love to keep tabs on this group.
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.
No thats awesome I've been looking into buy and hold more than flipping anyway that sounds great. Of course this is provided that the numbers on whatever I look at works.
Newark has been the investor's haven for Northern Jersey for years. It's very interesting to see the amount of money being poured into the city from real estate investors. There is still time to capitalize on the city before it becomes overly developed like Jersey City.
Newark has been the investor's haven for Northern Jersey for years. It's very interesting to see the amount of money being poured into the city from real estate investors. There is still time to capitalize on the city before it becomes overly developed like Jersey City.
I agree with you; there's still plenty of time to do your homework and find great deals as more is pouring into the city. A developer's ability to research the neighborhoods and set a plan is critical here.
@Jacques Simon Thank you for starting this thread. I started real estate about a year ago now. I have flipped 2 houses in Belleville. Currently, I am renovating another 2 family in Belleville, a 3 family in Bloomfield, and just bought and flipping a single family in New Providence, NJ. Two of the three are buy and holds. I'm always looking to network and connect with other investors in the area.
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.
Thanks Jacques for creating this thread , I live in Essex county and looking deals in Newark , Montclair and East Orange areas , I like your way of looking for buy and sale or hold zones , thanks for sharing , Harrison is also one area which had gone under the tremendous change specially near the path station.
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.
Thanks Jacques for creating this thread , I live in Essex county and looking deals in Newark , Montclair and East Orange areas , I like your way of looking for buy and sale or hold zones , thanks for sharing , Harrison is also one area which had gone under the tremendous change specially near the path station.
Welcome. Harrison is an area that appreciated quite a bit due to a lot of actions from larger developers. There could still be deals in the area, but one has to work quite hard to find them.
@Jacques Simon Thank you for starting this thread. I started real estate about a year ago now. I have flipped 2 houses in Belleville. Currently, I am renovating another 2 family in Belleville, a 3 family in Bloomfield, and just bought and flipping a single family in New Providence, NJ. Two of the three are buy and holds. I'm always looking to network and connect with other investors in the area.
Welcome! It's good to see an experienced Essex developer in the room.
This is an awesome Thread! I'm a mechanical engineer and dable in wholesaling. I've since turned most of my attentions towards growing my engineering business and finding a 3-4 family for a buy and hold. I specialize in HVAC and plumbing design for buildings and have worked with a bunch of developers.
Personally I'm a big fan of the essex county area. Theres plenty of deals to be had in Newark and if you have the capacity now is the time to buy. The next 5 years will see substantial up-turn in gentrification as jersey city, hoboken, and the rest of the jersey gold coast becomes overpriced and unattainable.
This is an awesome Thread! I'm a mechanical engineer and dable in wholesaling. I've since turned most of my attentions towards growing my engineering business and finding a 3-4 family for a buy and hold. I specialize in HVAC and plumbing design for buildings and have worked with a bunch of developers.
If anyone is working on a project where they need MEP design feel free to reach out and lets talk. Or just reach out if you want to talk anything construction and real estate.
Personally I'm a big fan of the essex county area. Would love a 3-4 fam. in Montclair. Theres plenty of deals to be had in Newark and if you have the capacity now is the time to buy. The next 5 years will see substantial up-turn in gentrification as jersey city, hoboken, and the rest of the jersey gold coast becomes overpriced and unattainable.
Hi, thanks for the referral. I will be in touch when I do my next project.
Thanks for creating this thread, @Jacques Simon. I am an agent in Hudson county, and am looking into Newark and other areas of Essex County for a buy and hold, and maybe a house hack. The area I cover is too expensive for a new investor like myself, and I am excited to learn more about the opportunities in Newark and the surrounding areas!
Thanks for creating this thread, @Jacques Simon. I am an agent in Hudson county, and am looking into Newark and other areas of Essex County for a buy and hold, and maybe a house hack. The area I cover is too expensive for a new investor like myself, and I am excited to learn more about the opportunities in Newark and the surrounding areas!
Welcome! I am glad that we can all come together and collaborate on Essex County opportunities.
I will be out exploring the Newark area today. Do you have any recommendations on specific areas worth taking a closer look at?
Thank you
The prospective areas are hugging the water across the bridge from East Newark, Harrison, and Kearny. Neighborhoods like University Heights, Ironbound, and Forest Hill are the neighborhoods I'll be focusing on.
@Erica Cohen I'm currently building a new construction 3 family in the ironbound section. Am also looking into other areas of Newark to invest. Let me know if I can help in any way.