What are the ideal places to buy investment property in NJ?

[Kazi Islam]

Hello,

I am planning on buying my first rental property (Duplex/Triplex). I am in Northern VA and where I live there is no Duplex/Triplex are available. So I started looking for them in neighboring states. I found some in New Jersey. I have been researching a few locations but can't seem to figure out whether the location is ideal or not. So, should I get in touch with a local agent and try to figure it out? Any advice is highly appreciated. Thank you for your time.

[George W.]

Even though Jersey is a small state it's very diverse. All around I'd say nj is more competitive. The taxes here are usually more than most states but the rents are usually better. It's a great state to invest in because it's nestled between nyc and Philly so there's a ton of work & people who need housing.

South Jersey is more rural. Lower rents, lower taxes and prices. Not many big towns to choose from. Unless you're close to philly. Lots of foreclosures. 

North Jersey. Areas that are closer to NYC get great rents but are extremely expensive to buy in. Some cities arent the greatest. If you start heading towards Pa in the north it's a little more unfamiliar for me. 

Central jersey. Monmouth county area is great if you can find a multi-family. Start moving closer to Philly and you hit suburbs again. Then Camden which is not as nice. Mercer county has Trenton both cities there are kinda grim. 

Jersey shore. Lots of great beach towns would be probably be good for doing airbnb. Atlantic City has been hit hard in the last few decades more cheap property. 

You should definitely talk to an agent in a area you want to buy because some of the cities will have nicer areas and fall off quickly. You should try and find a property manager for the area you want to buy in to.