Investment property in Jersey City, NJ - Need advice

[HX Yuan]

Hi There, I plan to buy a multifamily home in Jersey City, NJ for investment purposes. I may start out living in one unit and rent one out. Any idea where would be the good places to buy in Jersey City? Also, would Journal Square a good option to consider? Your feedback and advice are greatly appreciated!

[Theodore Tasoulas]

@Haixia Yuan

JC has been really hot. Journal Square is a good area and lot of construction. One critical metric will be cash flow-prices are so high that you need to find good deal to make it cash flow after expenses. Be sure to run numbers if you house hack to make sure it will cash flow when you leave as well-I was having that issue. Rent by the room brings great return if you can manage it. “Cheaper” areas like Bergen Lafayette and McGinley Square are really appreciating and you get slightly lower rents.

Ditto what was said about down payment requirements if you don’t live there- will be 20% or more.