New Jersey-multi-family

[HJ Bercy]

Hello BP, 

Where would you say is the best places/areas to invest in multi-family investing in New Jersey?  What about single-family investing? 

[Ryan Goldfarb]

Agreed with the thoughts above - single family properties are tough to cash flow on because on the taxes. The flip side of that is that there's no shortage of buyers for these properties (as owner occupants).

On the multifamily side, that's a loaded question. NJ, like many markets, has a wide disparity among areas. Hoboken is very different from Newark which is very different southern and western New Jersey where areas are more suburban/rural.

In addition, when you ask for the "best place to invest", it's tough for anyone but you to make that call. Investing around here -- and anywhere, for that matter -- is investor-specific. You can find properties in Newark that cash flow like crazy (on paper), but many investors won't touch them because they're generally more management intensive, and you really need to know the neighborhood and the street. On the other hand, you have areas like Hoboken where the cash flow is minimal, at best, but it suits some investors because their main goal is wealth preservation as opposed to creation. As such, they're seeking the "safer" investment. 

Sorry for the evasive response, but I felt it would have been a disservice to you to throw out areas that I happen to like, though they may not make as much sense for you or other investors.