Multi-family Units in Newark and Jersey City NJ

[Jessica Soares]

Hi Everyone,

I am new to BP and real estate investing in general but have been following some large (8 units+) MFDs in some rough areas of Newark and Jersey City with numbers that sound good and am wondering if anyone here has experience with owning MFD in these low-income areas and whether you can give me your opinion on whether it's worth the risk associated with the areas/tenants, etc? I grew up in the Ironbound in Newark and went to school in Newark, so I know the areas well. I have nothing against low-income housing but the numbers I'm seeing look too good and I'm wondering if the deal is that good, they must be selling b/c the headaches aren't worth it. Any advice, thoughts would be most appreciated by this newbie! Thx.