Investing in Newark, NJ
hey guys, I am new to investing in real estate. I live in Hoboken/JC and thought I would scope out Newark as a starting point. I am interested in finding 3 to 4 unit multi family properties that I can hold for cash flow. Am I on the right track with Newark? If so, what areas should I be targeting? Can I consider Ironbound? If not Newark where else in North Jersey should I be looking that isn't too far from Hoboken/JC? Any thoughts or advice would be much appreciated! Thanks!
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I invest in newark heavily, but its a full time business. Our management team works very hard, and this is a business not an investment.
You can get cheap houses but its also hard work. There are numerous challenges with the area that have been mentioned in earlier threads such as copper theft, very low income areas, ect.
I would not buy in newark unless you are in the north ward or ironbound for a 1 off deal. If you are going to be active and buy alot of property then you can afford to put the systems in play needed to be successful there.