AGE of a multifamily investment property in New Jersey

[Marta K.]

Hello real estate investors! I recently found out about bigger pockets and can't express how grateful I am for all this free information and advice. I am looking to invest in my first multifamily investment property (12-20 units) in North Jersey. I wonder if anyone can share their expertise on what would be the oldest multifamily property they would consider buying in NJ area? From real state books I have read not to buy older then 1980. However when I skimmed though BP forum many advised that this depends on the area. Would you still analyse and tour the property if is older than 1980?

Thank you and have a fabulous New Year's Eve and prosperous 2018!

[Grant Miller]

I’m working on a 2 unit BRRRR right now that was built in 1863! As long as you have a good understanding of the property and what to be on the look out for you’re basically just managing risk accordingly.