Jersey 3-4 unit live-in: need boots on ground

[Kalina C.]

Hi all! Currently living in LA, looking to use a VA loan for a live-in triplex or fourplex in Jersey. What are the best neighborhoods? Looking for boots on the ground, so property management, broker, contractors. If you know anyone that would like to network, please personal message me or comment on here. Thank you so much!

[Damian Seguen]

@Kalina Carey

I have 2 Multi’s in Hudson County, NJ so far.

4 Fam in Bayonne and a 3 Fam in North Bergen, Self Managed.

Vacancies take about 3 days to fill(Zillow and Facebook), mostly because of the Commute into Manhattan being so close.

The price tags of everything listed will always be very high but don’t let it scare you off, there are still little gems hidden off market and plenty of Older families looking to cash out and retire. Make sure you know ahead of time if you have an Oil tank on the property(Don’t Just take their word, spend for the inspection)

I have personally stayed away from Irvington, Newark and the Oranges because I don’t know the area that well, but some of those $180k price tags for 3 Families are hard to pass up. The numbers will never lie. Do your due diligence and look into recently rented units in the area for Price comparison.

For a new investor I would advise to look into Montclair, Lodi, Moonachie, Lyndhurst, Ridgefield Park, Rutherford. Not too sure about the amount of available 3-4 Families but they’re great neighborhoods with plenty of 2’s with solid rental history, great schools and huge appreciation.

Best of Luck!!