Rental Property Investor · Jersey City, NJ · Member since 2015 · 18 posts · 6 votes
What's up everyone,
I'm a recent home buyer/investor located in Jersey City, NJ. A few months ago, I closed on a condo in the Heights neighborhood (after going through a brutal sellers market), and am currently in the process of closing my first investment property.
I would love meet more people in the area as well as get some feedback from anyone with experience investing in the JC/Union City/Newark areas. There's definitely a lot of activity going on here and it reminds me a lot of what happened in Brooklyn, NY (lived there for the 8 years prior).
Particularly, I am curious about less touted sections of JC -- West Side Ave, Bergen-Lafayette and the areas around there. Do you see these areas being more popular for rentals now that a lot of JC has become expensive, and does anyone have experience with rental properties in and around there? I know crime and safety and still major issues in this area, which I'm sure is one of the reason why investors haven't piled in here yet.
Look forward to hearing any thoughts/feedback. Thanks!
Hi @Ani Sanyal I would love to connect with you and here your thoughts. I have looked hard at JC Heights in the last 6 months and it's definately been a seller's market. Feel like I just missed the boat on this one although I am continuing to look. My primary residence is on the border of Union City and JC Heights and I can definately see the "Brooklyn" type of transition taking place.
I think your idea is not a bad one, although I haven't looked that hard at those areas of JC. Union City is also not a bad place to look, and it is very close to JC Heights. I have been focusing on this area as of late.
Let's connect in person and talk further. There are quite a few people on BiggerPockets in the JC area and it would be fun to all get together to talk real estate.
I closed on my first two family in Newark. When I'm prepared to move out I would like to get into Jersey city as it'll be closer to work. Do you feel that we're entering a buyers' market in Jersey City any time soon? Do you think the condos being built in JC are going to lead to a downturn?