Elizabeth, NJ Looking Strong for BRRRR — Seeking Advice & Investor-Friendly Contacts

[Charles Lundquist]

Hey everyone,
I originally thought Yonkers would be my BRRRR market (proximity to work, familiarity), but after more digging, Elizabeth, NJ is looking more attractive — better price-to-rent ratios, strong demand, and less red tape. I'm not expecting to pull out 100% of my capital, but I want to do the best job I can and set myself up for long-term success.

A few things about my situation:

• I have ~$60K available

• Preapproved for ~$700K (FHA or conventional depending on the deal)

• Best friend is a contractor who can get me great pricing on reno

• Targeting a triplex with mostly cosmetic value-add (some mechanicals or light structural work okay)

• Ideally, one of the units is a 1-bedroom I can live in while house hacking

• Strategy is long-term hold, then refinance after stabilization to roll into the next deal

I'm open to Elizabeth or other NYC-adjacent markets in NJ/NY/CT where this strategy can still work with relatively low vacancy, solid tenant base, and investor-friendly zoning/permit processes.

Looking for:

• Tips on other BRRRR-friendly cities outside NYC

• Investor-friendly agents, wholesalers, or deal finders with access to off-market or distressed triplexes

• Any local red flags or neighborhood-level insights in Elizabeth (I’m still learning block by block)

Would love to connect with others who are active in this space. Let me know if I can be helpful to you in return!

Thanks in advance,
Charlie