Patterson, New Jersey

[Trevor Ewen]

Hey All -

In the next year and a half, the brother and sister in law will be moving to Paterson, NJ to run an after school program. Aside from the obvious issues about doing business with family (which we are very aware of). We are curious if anyone knows anything about Patterson. Ideally, they would be the team on the ground (live in the multi family, and rent out the others), and we would provide a bit more of the capital.

My brother and sister-in-law are handy, and they work in the community, so they're in a great position to know the neighborhood, and invest in its future.

How is the market there? Love to speak with landlords, managers, anyone in the area.

[K.M. Johnson]

Hi Trevor -

I live in New Jersey - in Hunterdon County, which is approximately an hour away from Paterson. However, I mentor a group of young men in Paterson and am familiar with the area. Paterson, like many large cities, has some challenging areas and you should be careful when considering particular parts of the city. You can find attractive cash flow but may have to struggle with crime, safety, etc.

I personally wouldn't invest there because it does not fit my buy & hold criteria but am happy to provide additional thoughts on the area. I can also introduce you to some friends who run a community center in Paterson for another perspective on the city. If interested, send me a PM.

Happy Investing,

-kmj