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Updated 7 months ago on . Most recent reply
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Bloomfield NJ multi-family investing
Hey BP community!
I am today years old in terms of this forum and it's already provided a wealth of super useful information. I've been on the sidelines with real estate investing for about 2 years now given this highly volatile and high interest rate environment (at least relative to recent years). I'm lucky enough to have a seasoned investor on my team of 30+ years in my father-in-law. I recently moved to Montclair near the Watchung Plaza and know that area very well. However, I identified a deal in the southern part of Bloomfield (near Watsessing NJ transit station) I am interested in and do not know that area as well. The numbers look good all around, my lingering question mark is around general safety of the area. I plan to spend some time during all times of day to familiarize myself but I have read a ton of info and it is generally not considered to have a stellar reputation in terms of crime and such. It would not be owner-occupied so my concern only goes as far as the area not deterring potential tenants from wanting to move in. Any thoughts on that specific area?
Thanks in advance!
I am today years old in terms of this forum and it's already provided a wealth of super useful information. I've been on the sidelines with real estate investing for about 2 years now given this highly volatile and high interest rate environment (at least relative to recent years). I'm lucky enough to have a seasoned investor on my team of 30+ years in my father-in-law. I recently moved to Montclair near the Watchung Plaza and know that area very well. However, I identified a deal in the southern part of Bloomfield (near Watsessing NJ transit station) I am interested in and do not know that area as well. The numbers look good all around, my lingering question mark is around general safety of the area. I plan to spend some time during all times of day to familiarize myself but I have read a ton of info and it is generally not considered to have a stellar reputation in terms of crime and such. It would not be owner-occupied so my concern only goes as far as the area not deterring potential tenants from wanting to move in. Any thoughts on that specific area?
Thanks in advance!