Where to invest in north east

Question

Hey I'm looking for different markets to invest in out side of NY, what surrounding states/cities tend to be more landlord friendly?

Nadiyah Malbon · Answer

All of Northeast has their issues with the LL/Tenant laws, but NJ is probably the more favorable.  I service the Essex, Bergen, Union, Morris, Passaic areas.

Amaan Hassanali · Answer

@Mathius Gazi Just stumbled upon this post and thought I'd offer my two cents for the New Haven market as someone currently living here. I've been analyzing a few deals around NH recently (generally <$300k) and the numbers generally haven't been working for me (as one would expect in any market). That being said, I have spoken to folks who've had luck finding decent cashflow properties. Personally, I'd recommend looking into areas like East Rock and Westville as they're considered "safer", though most multi's seem to be in-between the two areas.

Mario B. · Answer

I did a quick search for my own records, pricing really is great up there!  I found students at Yale like the Dwight, East Rock, or Downtown areas. Fair Haven isn't the best area someone said, but they liked the quick access to the beach. Someone else said if you want names, basically avoid any neighborhood with hill or hall in the name.  This feedback is about 2 years old though so things could have certainly changed.  I would say housing around the campus, nice hotels, restaurants, or the hospital might be good options to look at.Another good response I found"One rule of thumb is to look at Google Maps, plot out the walk to campus and see if it passes through areas with cafes/restaurants and/or major office or university buildings. If so, it's likely going to be pretty safe. If you're going to be walking along the edge of a highway, past a bunch of parking lots, and then through a neighborhood without any amenities then it might be less safe at night. You can also use Google Streetview to see what the walk will look like."

Jay Thomas · Answer

New Jersey offers a mix of rules for both landlords and tenants, with areas like Hudson County or Morris County being good spots for renting out properties. Pennsylvania is generally easier for landlords compared to New York, especially in cities like Philadelphia or Pittsburgh. Connecticut is also a bit easier for landlords, with areas like Fairfield County or Hartford County being worth a look. Just remember to research specific areas, consider market conditions, and factor in costs like property taxes and insurance.

Matthew Crivelli · Answer

@Codie Gillette

Springfield MA is a great market. Tons of 2-4 unit properties that can cashflow well & the price point isn't crazy. Some areas are better than others but overall it's a solid area for rentals / BRRRR's.

Abel Curiel · Answer

Hello Codie & welcome to the forums!

Pennsylvania, Connecticut and New Jersey are more landlord-friendly than NY.All the best to you on your journey!

Abel

Von Wilson · Answer

Hello are you still investing in the northeast...I have a property in newtown that is zoned for mixed use ..zoning approved..constrcution started next door for same...please contact be to discuss further if interested (914-9797-1656

Joseph Guzzardi Jr · Answer

@Codie Gillette I myself live in NY and invest in NJ. Happy to discuss my experience.

Mario B. · Answer

Finding multi families without tenants is difficult, most investors don't want to loose cash flow during a sale, every dollar counts for them.  Most of the time I find tenants are all month to month.  If you can get receipts of payment, prior lease, application, etc. anything that can help you if you take on a property with tenants, it will help.  Your closing attorney should also be able to advise what documents to source for in place tenants to help mitigate a potential eviction.  If you self manage, try to account for 5%-10% maintenance each month and 5%-10% vacancy.  If the property cash flows after all mortgage expenses and maint/vacancy, property tax, insurance, etc. you're on the right track.

Liam Maher · Answer

Buffalo and Rochester, NY are both top #10 cities nationwide for cash-flow

Where to invest in north east

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