Looking for a duplex

[Robert Bocchino]

Good evening,

I am new to the forum. I love the content and the sense of community I have seen on this platform, and am excited to become a part of it. I own a SFR in Staten Island and I am now looking to add a duplex so I can begin to stack small multifamily properties, working my way into larger deals over the long term. The five boros are becoming expensive so I am currently looking at Mercer county NJ and the Lehigh Valley PA. Northern NJ and some of Central NJ became competitive with houses getting multiple offers above asking price. I have been to open houses where they wanted your best offer by end of day. It has slowed a bit since the summer but prices are high. Those priced out have begun to move a little south. I am looking at Hamilton Township which has access to trains and I95. The Lehigh Valley has seen population growth as well as rent growth with low vacancy.

I wanted to see if anyone is already invested in these markets for any feedback. The goal would be to get a little cashflow to sustain the property in order to capture the upside in rent growth and appreciation over time.  If anyone wants to know about Brooklyn or Staten Island, please let me know. I love talking and learning about real estate.

Have a good night all.

Best,

Rob

[Wale Lawal]

@Robert Bocchino

Hamilton Township in Mercer County, NJ offers a steady rental market with affordable multifamily options, but high property taxes. Lehigh Valley, PA, has experienced population growth, leading to higher rents and low vacancy rates. The market is cash flow-friendly but has a gradual appreciation rate. To find the right market, be pre-approved, have a local broker, and use conservative rent estimates.

Good luck!