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Updated about 8 years ago on . Most recent reply
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Essex County Newark, Irvington warzones?
Hey my partners and I are looking to invest in Essex county and we have particular strategies for different economic areas and so we are focusing in going into Irvington, Newark, east/west orange and we were wondering if anyone is aware of any specific war zones to be wary of here. to be clear we want the low-income to moderate income neighborhoods we just don't want the complete war zones. Any advice and tips would help.
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This is a question that is asked in some form or other at least twice a month in BP, typically by a new New York-based investor excited by the "low" prices in some of Essex County's more historically neglected and difficult areas (Newark, East Orange, Orange and Irvington).
Why not do a quick search before asking? (It just baffles me that folks don't.) At the very least you'd get to see the vast array of versions on this very question ranging from the overtly naive, lazy and borderline offensive to the very sharp. The forum is rich with previously offered insight. Some of it very very recent, a lot of it very detailed and insightful.
Anyhow, what I really think would help you is to visit. A couple of hours on the ground is a good investment of your time anywhere, but specially in struggling communities. If you have experience working in poor, inner city communities, you'll know what too look for. Take a drive by those neighborhoods you're considering, get out of of the car and talk to a few people. If you don't have the experience yet, at least you'll have a better sense of the area and the kind of financial and personal investment it'd take.