Inventory and Opportunities in New Jersey

[Joseph Matarazzo]

Hello everyone,

New here. I am located in central/northern NJ, or Plainfield, NJ specifically. I have one multifamily and I am looking to expand and purchase a second multifamily sometime this year. Buy and hold for cash flow through renting. Preferably 3 or 4 units. I am looking online, and outside of Newark or Elizabeth areas, there just doesnt seem to be much inventory recently. Anything listed online is swept up in a day or two. 

My question is: Do other investors notice the lack of inventory? Do we think this is a seasonal issue that will fix itself in the coming months? Are there still people fleeing NYC and buying whatever they can? What are some ideas you have used to find available properties? I appreciate feedback. 

[Darren Sager]

In my 20+ years at this I've never seen inventory levels this low before on small multi family.