Looking for a condo in New Jersey nearby NYC

[Joohyong Han]

Hello, 

I read the books, and watched some videos about real estate investing. Now, finally, I want to start the move. I'm looking for a condo in Union City, West New York, North Bergen, Palisades Park, Ridgefield, Fort Lee where it is easy to commute (30 mins by bus) to Manhattan. And, definitely, I'm looking for a condo that generate positive cash flow. 

I thought about a multi-family property however, since this is my first purchase and I don't have any experiences in mortgage, insurance, tax, renovation, laws, etc, I think it would be better idea to invest in a condo instead. 

If you want to share any of your advices or recommendations, please feel free to leave the comment. 

Josh Han 

[Allan Szlafrok]

@Joohyong Han I really don’t like condos for investment purposes especially in the areas you mentioned. Taxes and HOAs eats you up and a lot of condo buildings have restrictions on wether or not you can even rent it out. I know they are cheaper than a multi family but unless you are getting a crazy deal at rock bottom prices you will find it hard to make the numbers work. Consider house hacking in those areas although there really aren’t many many multi families in fort lee there are a lot in UC.