NJ BRRRR - can it be done?

[Eric D.]

I own two multi-families - one in Maplewood and the other in W Orange - each purchased with conventional loans with 20% down. On BP, I hear stories about people who do the BRRRR method and end up with 100 units after 5 years and can retire.

However, in Jersey, I just don’t see how anything even approaching that can be accomplished. Thoughts? 

[Brian Allen]

NJ is a very unique state - it's kind of like 3 or 4 states in one: south NJ - lots of sand, pine trees, and flatland marshes.. central NJ: suburbs, cul-de-sacs, farms, & multi-family properties. North East NJ: multi-families, Condo/HOA/Mixed Use everywhere... NorthWest NJ: Cabins, homes in the woods, hills, dales, rivers, and large lots... good luck and welcome to BP! -Brian