New Jersey Real Estate Q&A Discussion Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
NY Metro Area Multifamily Investors Please Help!
This is my first post.. I read Turner's book in 2 days (Quarantines good for something) and now im a wannabe rental investor, but would like to start taking action ASAP.
I am currently in search of B and C grade (Building and location) small multifamily properties to begin my RE portfolio. My strategy is a house hacking & BRRRR using FHA 203 (k) loan to help factor in costs of improvements and and repairs. I Feel my best success will be on the outskirts of the NY Metro Area (Duchess and Orange County NY or Warren/Somerset/Monmouth/Middlesex NJ). Although I am not positive, this will be the focus of my initial search. I was wondering if any rental owners can share their property and location grade, the neighborhood and what their income and expense look like or maybe just what you charge for rent for 2 or 3 bedroom etc.? Ideally looking for small multifamily rental owners in the NY Metro Area, but obviously anyone else feel free to share what ever you like about your own properties or properties you manage.
Hope everyone is doing well! thanks for reading my post I appreciate your time and look forward to hearing from you guys!