All Forum Posts by: Dawid Smolenski

Quote from @Jake Handler:

Is $450,000 your budget according to a lender or just what you think?  Is that your budget for a primary home or investment?  Single family or multifamily?  An advantage you have over some other investors and buyers is that you are thinking with a long-term investment strategy, which allows more opportunities for you.  I would advise you to go over all scenarios with a lender that speaks the investment language... maybe you'll find that your situation allows you to be more open-minded to different strategies and types of properties/financing than you originally thought.

That's the max budget I'm aiming for regardless of location and am specifically searching for condos. Family or multifamily properties might require a higher budget in the Heights area.

As I am seeking both a suitable investment and an appropriate location, I have decided to post my situation here in order to get people's opinions.  

Hello everyone!

I am exploring the option of investing in a long-term rental property in The Heights, Jersey City, with a budget of $450,000. I have noticed a recent trend of significant property price increases in the area (link to redfin), and I am considering focusing on home appreciation as a potential investment strategy. However, I am unsure if the market may have reached saturation levels. Also, positive cash flow with a 20% down payment seems achievable, but I would appreciate your opinions and insights, particularly since this would be my first investment property.

The good fact is that the mayor of Jersey City resides in the area, which could be a positive factor (or I'm mistaken).

Lastly, I am open to exploring other areas in New Jersey if they offer better investment opportunities.

Thanks in advance!