Hi all, I'm new to this forum and new to real estate in general.
I'm wondering if some NJ locals could give me some advice on the market in Union City, specifically in the neighborhood of New York Ave and 18th St. I found a nice 3-family that I could live in and it looks like I'd make a good profit from the rent/Airbnb. The only downside is if in 5-10 years the property does not increase in value.
My questions are whether you guys think it will be a good investment, especially with the looming tax bill. According to Neighborhood Scout, it's the most expensive neighborhood in Union City, so hopefully it holds value? I'm not sure if this area has a lot of development, however. From what I read, what it has going for it is good location near NYC, but on the downside it's bus only and has a skewed population demographic.
Any help would be appreciated, I've read other threads like https://www.biggerpockets.com/forums/432/topics/254199-investing-in-multifamily-in-union-city-nj, https://www.biggerpockets.com/forums/311/topics/408572-union-city-nj-investment-potential and https://www.biggerpockets.com/forums/12/topics/291723-first-investment-property-in-union-city-nj but wanted more up to date information especially in light of the new government changes (Murphy, tax bill).