Best areas to invest in NJ and NY area for high rental yield ?

[Abbas Hashmi]

I have launched my own multifamily fund and looking to invest based on the post corona market. Deployment is expected in December 2020. My investors seek rental income and willing to hold on for 5-6 years for an exit event. I do not own a management company and plan on hiring one for rent/maintenance etc.

[David Czech]

I don't mean to burst your bubble of anticipation, but from what I'm seeing, a post corona market in the Northeast is going to include low inventory, overinflated offers, and bidding wars. This is especially true given the Feds low rate announcement. I'm not seeing that change for at least the next year. 

As far as areas go, look towards central NJ (Union county). Proximity is close enough to NY for any commuters looking for their mass exodus opportunity. I would take a look at Edison / New Brunswick, which is a bit south but also within NY commuting distance. These towns are also close to Rutgers University campus.