I am a new investor living in Jersey City, New Jersey and have been doing a lot of research on the real estate market over the last few months. I am currently looking for a multi-family that I can hold and rent out. However, I am finding that New Jersey can be difficult to find a good enough area that can cash flow well month over month. For example, the Jersey City and Hoboken area is a great area because it is close to NYC, but it is already gentrified and prices have skyrocketed to buy. On the other hand, moving a bit away from the city can put you deeper in Jersey City or in the Newark area which is not a great area and can land some difficulty with run down homes and difficult tenants. I am very curious to hear from other New Jersey investors about their experiences and any specific towns that they find to have the most value. Thanks in advance!
