Looking for investment properties surrounding Jersey City, Newark

[Brahma B.]

Hello All, I recently joined the bigger pockets and fascinated by the amount of information shared by the members. This is truly inspirational for folks beginning to join the RE investor community. I'm looking buy my first investment property in and around Jersey City area. I was looking at some of the suburbs within 10-25 mile radius as well. I came across couple of properties, one in Union and another one in Newark. Below are the numbers for both properties Union(old house built in 1920's) Listed for 195k Repairs - 10-12k Potential rent-2200(2 unit each 1100) Taxes - 2600 Newark(brand new construction) Listed for 321K Repair -0 Potential rent- 2800( 2 unit each 1400) Taxes- ~6000k Can you suggest some of the things to consider prior to moving forward with one of the options. And also for the union property, there is an adjacent vacant lot they would like to sell for an additional 45K