want to invest in Newark, NJ

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want to invest in Newark, NJ

Andrew Malina
New York, NY · Member since 2017 · 19 posts · 3 votes
hi, so as the title suggests I would like to invest in Newark NJ, I did a lot of research, thinking and number crunching and it seems that Newark wouldn't be so bad to consider. I currently live in Queens, NY, I owe a nice 3 family rental with very good cash flow and want to expand but queens is just to much hustle to reward ratio, especially since I'm not a millionaire... I would love to connect and network with people who work, invest and consider investing in Newark. i would really appreciate if someone could guide to into some great property managers, real estate agents, lawyer and contractors that work specifically in Newark vicinity. I would like to learn anything there is about that local microclimate. I'm thinking to start with a two or three fily house, renovate, rent and hold. I just want to get my foot through the door. I know that some areas are rough but I'm ready to step out of my comfort zone and seek new opportunities. thank you
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Ro Maga
Newark, NJ · Member since 2015 · 162 posts · 102 votes
8y
“but queens is just to (sic) much hustle to reward ratio” ...and investing in Newark is a walk in the park, right? Have you visited the areas where you are planning to invest, or does this conversation is all based on looking at numbers on Zillow? In today’s market, there’s no reward without too much hustle, and the areas with lower entry prices come with added costs and greater hustle requirements. Yes, there are rewards to investing in Newark, but it all comes with tons of work and boots on the ground. I think people would be more willing to share their resources and social capital to aspiring investors who’ve spent some good amount of time in Newark as a first step in their due diligence. Investing in Newark takes grit.
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  • Immanuel Chin
    Specialist · Staten Island, NY · Member since 2018 · 6 posts · 2 votes
    8y

    Hello Andrew! Im looking to network in NJ.. Have you considered investing in a different area? I think that the're alot of better potential in area's such as Linden, or Rahway NJ.. i do lease options, seller financing, and wholesaling as well. if you would be interested in setting something up such as a JV, let me know! cheers :)

    2Reply
  • Andrew Malina
    OP
    New York, NY · Member since 2017 · 19 posts · 3 votes
    8y

    hi Immanuel,

    I am definitely opened to look outside the circle, Linden and neighboring areas also look very promising and environment is surely more friendly. 

    Do You currently have any properties up for grabs in those areas? I need to get more familiar with rent regulations in those areas, seems like there are rent control rules that apply to lots of properties. I need to do a little more digging on this one

    0Reply
  • Ro Maga
    Newark, NJ · Member since 2015 · 162 posts · 102 votes
    8y
    “but queens is just to (sic) much hustle to reward ratio” ...and investing in Newark is a walk in the park, right? Have you visited the areas where you are planning to invest, or does this conversation is all based on looking at numbers on Zillow? In today’s market, there’s no reward without too much hustle, and the areas with lower entry prices come with added costs and greater hustle requirements. Yes, there are rewards to investing in Newark, but it all comes with tons of work and boots on the ground. I think people would be more willing to share their resources and social capital to aspiring investors who’ve spent some good amount of time in Newark as a first step in their due diligence. Investing in Newark takes grit.
    3Reply
  • Andrew Malina
    OP
    New York, NY · Member since 2017 · 19 posts · 3 votes
    8y

    obviously i do realize that Newark is no walk in the park, it will definitely be harsher and tougher than probably anywhere in five boroughs. 

    Ive been looking around for quite some time and came to conclusion that it just doesnt make sense to invest in nyc (not with my capital). Simply put, for a downpayment in the city I can buy a house out right in newark and possibly do some reno. 

    I didnt put my boots on the ground yet. Thats why, firstly I wanted to connect with some local real estate agents, see a few listing and this way have a better understanding what Im getting myself into. 

    I wasnt exactly planing to just drive up to newark blindly and scan block by block... 

    0Reply
  • Rah-sheen Blalock
    Brooklyn, NY · Member since 2013 · 41 posts · 9 votes
    8y

    good day. I have been connecting with quite a few individuals in Newark recently, message me and we can talk when you are free.

    2Reply
  • Jay Chopra
    JV Contractor Syndicate Piscataway, NJ · Member since 2015 · 283 posts · 24 votes
    8y

    Hi,

    I am rehabbing a 2 Fam right now in Newark NJ. I am looking to JV another one. All sorts of propositions considered. I am a GC with good rehab record and good FICO etc. You can also call me

    Jay

    1Reply
  • Account Closed
    Rental Property Investor · Member since 2018 · 3 posts · 0 votes
    7y
    Any good brokers for Newark and surrounding areas, looking for (pure) Multi-families in the $1.5M-$2.3M range.
    0Reply
  • Allan Szlafrok
    Rental Property Investor · Long Island, NY · Member since 2015 · 490 posts · 301 votes
    7y
    @Mordy Itzkowitz Edward Gelley at Weichert on Adams St will hook you up
    0Reply
  • Saif Khalid
    Brooklyn, NY · Member since 2018 · 1 post · 0 votes
    6y

    Hi All,

    I know this is an old post. I am also interested to invest in Newark. I would like to network with BP-ers! 

    0Reply
  • Brian Gibbs
    Member since 2020 · 2 posts · 0 votes
    6y

    Hi @Saif Khalid!

    I would like to network. Im very familiar with Newark as I grew up nearby. Message me and we can chat.

    0Reply
  • Andrew Galeano
    Ridgewood, NY · Member since 2015 · 50 posts · 14 votes
    6y

    @Andrew Malina

    Agreed Andrew. Im in your situation as well. I live in Bushwick Brooklyn and I currently have a rental in Jersey City. However the cashflow there right now is sochard to find. Im also into looking at areas in Newark. And like you, am looking to connect with experts on the areas. I obviously dont want to have the nicest house in a warzone but I know there are area’s in Newark with good growth

    1Reply
  • Anthony Marin
    Rental Property Investor · Newark, NJ · Member since 2017 · 88 posts · 75 votes
    6y

    @Andrew Malina

    Hi Andrew, did you ever wind up getting an investment in Newark? I own a real estate company in Newark that focuses on investors and property management. If I can help in any way please feel free to reach out.

    0Reply
  • Jay Chopra
    JV Contractor Syndicate Piscataway, NJ · Member since 2015 · 283 posts · 24 votes
    5y

    Yes, I have rehabbed a property in Irvington. Please send me your bio to my email. Thanks

    0Reply
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