Investor Looking at NY Metro Markets

[Indro Dhar]

Hey what's up everyone? Long time lurker here...making my first post! 

I'm currently evaluating investment options and looking at potential high growth areas within proximity to NYC for multi-family rental units which I can add value to after purchase and execute on a BRRRR strategy. I'm looking at some of the following areas: Hudson County (Union City, Jersey City, Weehawken), Newark (NJ), Waterbury (CT), Hartford (CT)Allentown (PA), Philadelphia.

Any realtors / wholesalers / investors have experience in these areas? Would be great to connect. Particularly - which jurisdictions would have the most landlord friendly tenant laws. Where would the most growth potential be?

Any insights on any of these markets would be great! 

[Brandon Arce]

@Indro Dhar I have experience in Hudson county, currently holding two 4-family buildings in hudson county. Some cities have some advantages over others, but I feel they are all great, and although the prices are high, there are gems to be found all the time. I recently saw a 3 family being sold auction at $250K, ARV being $600K !!!

II feel Union City is the one with most advantages for its NY proximity, 3 Bedroom can easily be rented for $2K per month, however bnie mindful of rent control recently put into effect. For any property, make sure you go to the rent control office in town and ask them if there is registered rent for the property in question. If there is you will have to start charging the same rent to future tenants, and you don't want to be surprised this being a low number.

Downtown Jersey city is overpriced, just like Hoboken. Bayonne has a lot of potential, large buildings being built all arround, and the East section from route 440 under development will bring even more value to this area, also ferry to NY being under review for this area. Send me a request so we can connect and discuss further.