Jersey City best property to purchase year 2018

[Kapil Patel]

Hello BiggerPocket friends,

My name is Kapil and I am a newbie investor. I am new to Jersey City and do not fully understand the market. In fact I moved to US from Canada last summer.

If anyone has solid expertise in Jersey City area it would be so so so so helpful and appreciated.

Currently, my wife and I are looking to decide to purchase a condo with low overheard costs (no condo amenities, pool, gym etc). Looking into small condos 10 units or less in the Jersey City The Village area (not Newport) area. We are looking for a type of property which we can live in for a few years and then turn it into a rental unit, we want to keep it long term. What type of condos should we go for? What price range? What is more in demand a 1 or 2 bedroom? What are the young folks more attracted to the newer construction or older?

Look forward in feedbacks from the BiggerPocket family :)

Kapil

[Mark Lladas]

Hi Kapil,

I am an agent and investor myself in Jersey City. I also grew up here and know the market pretty well. Depending on your budget, there are still certain areas in Jersey City where the numbers may work but for the most part you would be investing based on speculation.

All the best,

Mark