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Updated about 2 years ago on . Most recent reply
Fort Myers FL vs. Bayonne, NJ
Hi everyone! I am looking into purchasing my first 2family investment property (first from the asset class perspective - was investing in SF/condos) and deciding between 2 areas - Fort Myers, FL and Bayonne, NJ - around $450k.
In FL it will mean a newer property, less renovation and in NJ probably an older one with some renovation/updates required. Curious to hear any feedback from the investors in both areas regarding tenants pool, demand, potential for appreciation etc.
Most Popular Reply
All, thank you for the input! Thought I would post an update. I ended up finding similar houses in both Ft Myers and Bayonne (Bayonne of course needing work and FL property being pretty much turnkey) I put the same $ offers to both at the same time, but FL realtor ended up being faster and we went under contract the next day. Bayonne house ended up selling for exact same price I was going to offer, ha. FL duplex was not impacted by Ian (lucky!) and we closed pretty much right after that. It flied off the rental market within a few days and so far i cannot complain! Thinking about another one in the same area (or possible Texas). Live and learn!