All Forum Posts by: Kevin Hill

Welcome to Bigger Pockets Jason! The site and the podcast are excellent sources of information. You should start here with the Bigger Pockets Beginner's Guide!

I just took a quick look at the Garden State MLS, Elizabeth indeed seems to be a hot area to invest in. 17 out of the 20 active, multi-familiy homes priced $100,000 have accepted offers on them and are in attorney review.

I would look at both, but give more weight to a short sale comp. Short sales generally sell below market value, as the process to close on them usually takes longer than a non-short sale and scares some buyers off.

That's what it ends up linking to when you click on 'Civil Process' then 'Search Foreclosures'

Bergen County has the sheriff's web site where you can search for foreclosures:

http://www.bcsd.us/Pages/Foreclosures.aspx

Welcome to Bigger Pockets Kurt!

@Lior Solomon Bergen County is tough with the taxes and there isn't as much distressed properties as other counties like Essex and Passaic.

If they feel comfortable living there, there are plenty of distressed properties to choose from on the market that could be bought low and renovated. Highest multi-family (2-4 family) in the entire city in the past 6 months has only been $350,000.

There are pockets of Paterson that are safer and might be better for investments, but other parts you want to avoid like the plague.

There are many multi-families there. Its an urban area, some parts are pretty rough.

There are many foreclosures and short sales. Multi-family homes currently available start as low as $24,000.

Hi Trevor, do you mean 'Paterson' located in Passaic County?

Thanks for the tip @Ankit Duggal