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Real Estate Deal Analysis & Advice

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Tom Hall
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what part of NJ is worthy investing and why?

Tom Hall
Posted Aug 17 2023, 09:38

I would like to invest in multi family house somewhere in NJ. I want to be close the city budget roughly around 500k. Any advice what part of NJ I can afford for this budget ?

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Replied Aug 18 2023, 04:16

It looks like you live in Newark.  That area has great potential as well as the Oranges - if you are willing to do some work to the house when you purchase.  How close to the city do you want to be?

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Zach Edelman#3 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Austin, TX
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Zach Edelman#3 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Austin, TX
Replied Aug 18 2023, 06:36

I just came across some good deals in Mount Laurel, NJ and Tabernacle, NJ

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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Replied Aug 18 2023, 08:20

Hi @Tom Hall New Jersey is a great place for house hacking. My and my wife got to financial freedom in NJ using this strategy. We love locations close to transit hubs becuase there is constant rental demand. 

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Dennis Rogov
  • Real Estate Agent
  • Voorhees, NJ
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Dennis Rogov
  • Real Estate Agent
  • Voorhees, NJ
Replied Aug 18 2023, 12:55
Quote from @Zach Edelman:

I just came across some good deals in Mount Laurel, NJ and Tabernacle, NJ


 That is actually my area is this off market ?

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Brian Perlman
  • Real Estate Agent
  • New Jersey/New York
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Brian Perlman
  • Real Estate Agent
  • New Jersey/New York
Replied Aug 24 2023, 07:31

I would also suggest looking in Passaic and lower Sussex Counties - the "forgotten" areas of Northern Jersey. Some of the towns are within a 25 minute (or less) drive to the city.

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Stefani Mokris
  • Investor
  • Verona, NJ
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Stefani Mokris
  • Investor
  • Verona, NJ
Replied Sep 7 2023, 02:52

You willdo betterin areas with public transportation access to NYC.

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Ryan Muska
  • Lender
  • Saddle Brook, NJ
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Ryan Muska
  • Lender
  • Saddle Brook, NJ
Replied Sep 14 2023, 20:38

Jersey City is one of the most up and coming areas I've seen right now. Then you can look into The Brunswicks, seeing a lot of movement there. Really anywhere in Northeast NJ that is not riddled with crime is very good.

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John Schaeffer#2 Insurance Contributor
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John Schaeffer#2 Insurance Contributor
Replied Sep 19 2023, 11:21

You'll want to look anywhere that has a good rail system to Secaucus/NYC as most people are leaving NYC and commuting from the suburbs of Jersey. I recommend looking across the Raritan Valley Line or looking into Warren/Sussex counties as it's a lower cost of living but still within a reasonable driving distance into Manhattan.

Good luck!