Buying a house in Jersey city (in jersey city heights area)

[Vinay Kumar]

Hi Folks,

I would like to know your opinion, is it good idea to buy $1M multifamily (two family) house for investment purpose in jersey city area (jersey city heights). I see houses are very much appreciated, is it good decision to buy ?

Thanks 

Vinay

[Andrea Lane]

Vinay

I do not work in that area, but I have investor friends who do.  

Is this your first time investing?  if so here are some questions you should be able to answer before you make a decision.

What is your investment strategy?  Have you done your market research?  What has the appreciation been historically?  Will you have cash flow on day one or do you need to increase rents or find better tenants?  Do you understand the tenants rights in NJ? 

Let me know if you would like to have a conversation.