Looking for area to invest in!!
Happy New Year BP Community!
My name is Kevin, and I am an aspiring real estate investor. I'm a 22 years old recent college grad working in finance in NYC. During my college years, I worked with my father on his real estate rental (3-family apartment) and have experience with basic constructions and real estate laws.
I currently live in Queens, NYC, and want to house hack a 3-4 unit fixer-upper property in New Jersey. Right now I’m looking for fixer-upper property that are under 1-hour commute from midtown NYC and under $500K. I have been looking at Elizabeth and Newark, but so far, the neighborhood's crime rates pose concerns.
Any suggestions on different areas that meet these criteria in NJ? Any comments are also appreciated as I am here to learn. Thanks, and cheers!
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#5 Starting Out Contributor
- Real Estate Consultant
- Madison, NJ
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#5 Starting Out Contributor
- Real Estate Consultant
- Madison, NJ
You can't get 3-4 units anywhere near NYC for 500k or less so you should adjust on that front right away. You can't really even get a turnkey 2-family in a solid area for under 500k that is close enough on the commute. Dover in Morris Co would be a good target because they have a train and you can get a 4/2 2-family for around 500k that isn't falling down and there is some upswing in the town. Same with Netcong.
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