Am I losing my mind finding a property?

[Cody Jensen]

Hi everyone,

I've been actively looking for my first investment for quite some time now. I'm to the point where the pricing for what the properties here in New Jersey are worth aren't at all in my opinion worth investing in. 

For example, You pay $400,000 for a duplex in a moderate to high crime neighborhood with taxes at $12k per year..... This justifies nearly 70% of the property in NJ for sale currently. Not to mention the houses are falling apart.

Is anyone in the same boat as me? If you have been and found a solution, what did you do? 

Thanks,

CJ

[Skylar Simpson]

Originally posted by @Cody Jensen:

Hi everyone,

I've been actively looking for my first investment for quite some time now. I'm to the point where the pricing for what the properties here in New Jersey are worth aren't at all in my opinion worth investing in. 

For example, You pay $400,000 for a duplex in a moderate to high crime neighborhood with taxes at $12k per year..... This justifies nearly 70% of the property in NJ for sale currently. Not to mention the houses are falling apart.

Is anyone in the same boat as me? If you have been and found a solution, what did you do? 

Thanks,

CJ

 If that's the case for all properties in your area you might want to think about expanding your search area. One of my partners has a rule for his area - He will look at anything within 6 hours of his house in any direction. This might be too big for you but something like "anything 2 hours from my house in any direction" might help you find better quality deals.

Though I find it hard to believe there are zero deals in your area. It could be a marketing problem - I.e. you need to market more or add a different way of marketing to find more/better deals.