New Investor in NJ - where to invest for cashflowing properties

6 Replies

Hello,

I'm a new investor currently living in Jersey City. I'm looking to buy my first multi-family investment property for a long term buy and hold. Ideally, I would like the property to be within 1-1:30 hr of driving distance from me, so I'm considering properties in NJ, NY and CT.

What areas are investors finding cashflowing properties? As a newbie, I'm finding it hard to find good deals in this area, and the cashflow properties are in areas with very high crime rates (e.g. Newark). Since it would be my first investment property, I'm unsure whether I want to go to such areas without knowing what I'm getting into.

Any tips on areas I should be considering?

Thanks!

Good for you that you are all geared up for your first property! As a fellow newbie I had such a similar post not too long ago (the link to that is: https://www.biggerpockets.com/forums/572/topics/52...)

Hope that is helpful, and you can PM any of the people who responded to that if you have specific questions.

Good luck!

Thanks Fradel - that discussion was very helpful, and I have reached out to a couple of folks who responded on that thread. 

How are things going for you? Any luck with cash flow properties thus far?

Philadelphia.

That’s where I buy and hold. My group owns 150 properties there since 1999.

And I still live in NY. I don’t mind the distance because the numbers make sense.

It’s the 5th largest population in the country and you can still get some great deals.

Originally posted by @Ishwardeep Singh :

Hello,

I'm a new investor currently living in Jersey City. I'm looking to buy my first multi-family investment property for a long term buy and hold. Ideally, I would like the property to be within 1-1:30 hr of driving distance from me, so I'm considering properties in NJ, NY and CT.

What areas are investors finding cashflowing properties? As a newbie, I'm finding it hard to find good deals in this area, and the cashflow properties are in areas with very high crime rates (e.g. Newark). Since it would be my first investment property, I'm unsure whether I want to go to such areas without knowing what I'm getting into.

Any tips on areas I should be considering?

Thanks!

 Hello and welcome! Best of luck to you!

Tom Ott, Real Estate Agent in OH (#2016003865)
440-749-4043

Join the Largest Real Estate Investing Community

Basic membership is free, forever.