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Updated almost 9 years ago on . Most recent reply
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Where some of the places to invest in Northern New Jersey (multi-family mostly)
Hello fellow Biggerpocketers! I just wanted to mention that I love this site and I've been following some the forums that have been posted. Also the podcasts are awesome. Just to give you some info about me, I'm fairly new to this site and I'm looking to get into buying and holding in northern New Jersey (multi-families in Newark, Jersey City , Union, Orange, West Orange, South Orange etc...), Flipping property in NY metro area and also investing in vacation properties. One of my main questions I wanted to ask is, where are some of the best places to invest in multi-family properties for northern New Jersey? I hear some conflicting information regarding places like Newark, Jersey City and Orange. Some people say to stay away from those places some say it's the next best thing. I personally don't mind in investing in rough neighborhoods or areas (I'm originally from Harlem,NY) as long as it's not a complete war zone. I also believe in neighborhood redevelopment but I digress. One major concern I here above all else is about the taxes in Jersey are ridiculous, how bad are they really? Just to give you some perspective I've lived on Long Island where the taxes are stupid high and outrageous. Are they worse than Long Island? I would love to get some help on this guys asap. Thanks.
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Welcome to BP. Property taxes in North Jersey are similar to Long Island. As a NJ and NY Broker I've sold to buyers in both sides of the Hudson river. In a addition to good schools, consider towns that have e-z commutes to NYC(30min into Port Authority). Some North Jersey towns have 25 minutes bus commutes into mid-town Manhattan. These towns are good places to invest. Let me know if you have any questions and Happy Investing!