Hello, I'm a first time investor trying to keep it simple with a SFH to buy and hold and rent out. Looking in a few areas in the surrounding-ish NYC area, ideally 2 hours max from where I live in Queens. Been thinking of Allentown, PA, Jersey City, NJ and Newburgh, NY. I'm curious about what people think about Newburgh, it was suggested to me by a friend who is an investor. Any thoughts or advice. Thanks!
Rental Property Investor · Chappaqua, NY · Member since 2015 · 1k+ posts · 947 votes
8y
@Diana Isern newburgh is def an interesting market. Do some research before you jump in. I think it’s a great market and a really good time for newburgh.
I don't know the area great, but I have family that lives about 10 miles away in Washingtonville. I've been there for a party at the brewery. I had planned on leaving my car on the street there overnight but was advised by family to make other transportation plans. Do a quick search of "newburgh ny crime", in 2015 it made the top 10 most dangerous cities in America...looks like it's improved a bit since then. I'm not advising either way, just my input. Good Luck!
Rental Property Investor · Chappaqua, NY · Member since 2015 · 1k+ posts · 947 votes
8y
@Diana Isern newburgh is def an interesting market. Do some research before you jump in. I think it’s a great market and a really good time for newburgh.
I don't know the area great, but I have family that lives about 10 miles away in Washingtonville. I've been there for a party at the brewery. I had planned on leaving my car on the street there overnight but was advised by family to make other transportation plans. Do a quick search of "newburgh ny crime", in 2015 it made the top 10 most dangerous cities in America...looks like it's improved a bit since then. I'm not advising either way, just my input. Good Luck!
Paul
I'm actually in Washingtonville :)
Newburgh is definitely interesting, keeping on my radar, but not yet ready to pull the trigger. It seems like you have to get familiar with the different neighborhoods as some are worse than others. Around the brewery, it does seem sketchy, but if you go up a few blocks inland the area there is copmletely different.