I’m looking to invest in Jersey City and purchase a buy and hold rental property. I am not that familiar with that City and would like to know if anyone have any suggestions regarding neighborhoods I should focus on.
I own a home in Jersey City and I am also looking to invest here. A lot of potential growth here. I can help you with finding good areas. Send me a message if you'd like to go over in more detail.
I was born and raised in Jersey City but relocated to Maryland years ago; however, the majority of my family and father still live in JC. I visit several times a year so I’m very familiar with the area. My family members and friends live throughout Jersey City, so I can provide some recommendations.
I would recommend the following zip codes:
- 07302, 07310,07306,07307,07304 and 07087
Downtown Jersey City (07302) is a good location because a typical houses generally are 3-4 brick story (aka Brown Stones) with the potential for 2 separate units for renters and in some cases a bottom level which in could potentially be converted into a third unit. Numerous properties in this area have been renovated and the area is growing on many fronts.Some of the pros for this area are listed below:
- The new Jersey City Medical Center which constantly has medical residents in need of housing
- The close proximity to the Path train which has been our gateway to New York City and due to this many ex-New York residents relocated to downtown Jersey in search of lower rents
- The area is one of the safest location in the city
- A growing numbers of businesses such as restaurants/cafes and entertainment
Thanks Terri & Ray. What do you think of journal square? Is it a good area to invest in rentals?
As with most area of North Jersey, transportation to NYC is key. JS has direct trains to midtown and the financial district making it a good bet. The area is already on it's way up. There is some big dollar projects going into Journal Square area.
@Doron Rice Journal Square is growing at an rapid pace and the transformation happening is almost clear as day.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing