Looking to buy first property in NJ/NY/PA area.

[Daniel Kosciuszko]

Hi, I am looking for a property, preferably a multifamily that I can rehab and rent out while living in one unit. I know this market is tough, but I have good home improvement skills, having worked in the industry for a few years, and I also have a significant savings, allowing me to put more than 50% down in many cases if I need to. I was living in the Morristown area which I loved after moving from Jersey City and before that Essex County. I would love something in Morriscounty but I started looking at areas like Orange County NY, event the Lehigh Valley in PA and Northwest NJ and over into PA like Port Jervis. It don't want to do central or south NJ. Any suggestions for where I should look? I heard Allentown PA is a great area, and I am open to buying there but it would be more convenient if I could stay in north jersey or on the NY side in Orange county. Also how is Easton PA? Thanks

[Natalie Schanne]

@Daniel Kosciuszko - I always want to buy within 30 minutes of where I’m working. The closer the better. Real estate is about location, location, location. So if you get a 2-4 unit close to your job you can always Airbnb the other apts for supercharged rent and/or self manage. I have done very well by having furnished properties close to well paying jobs. I’d rather have a more expensive property that I have to fix up within 15 mins of cool stuff than a mansion an hour away. Renting is easier. Appreciation is often higher. My friend tells me a story about how he had two commercial properties for $400k, one in Hoboken and one in Easton pa. Today his Easton pa property is worth about the same $400k 20 years later and the Hoboken property is worth over $1m last time it sold.