All Forum Posts by: Erik Goldfarb

Hi Matt,

With prices historically high in Jersey City, it's difficult to find 2-Family properties in Jersey City Heights, Journal Square, and even some areas of Bergen-Lafayette that will cash flow. I would say that the financing would really depend on the deal because of the competition. If you can find a great deal that has multiple offers, going FHA will probably require that you overpay a bit because seller's prefer conventional loans to FHA. If you can put low money down through and FHA loan, you'll have one deal under your belt with more money to purchase the next home. You can refinance and roll money into subsequent deals from there.

The difference between 2-Unit and 3-4 Unit buildings isn't vastly different from a management perspective, but can make all the difference as far as cash flow and "house-hacking". Yes-- there are more kitchens and bathrooms, which can lead to more repairs, but that's what the home inspection is for. Feel free to message me if you need any help in the area.

Hi Sri,

There have been some signs of that market slowing down from a rental perspective. There's a ton of inventory available right now in areas like Hoboken and Downtown Jersey City. On the sales side, however, there is still a lack of inventory and most properties that are well priced are still receiving multiple offers. I work with a number of investors in the area and would be happy to discuss questions you may have in any areas of Northern NJ.

Hi Jason,

I work in the area and have some experience with Port Liberte. It's a great area to live with tons of amenities. It's definitely secluded, but they have buses to Grove St, a ferry to Downtown Manhattan, so the commute is easy. I'd be happy to answer any other questions you have about market there. Private message me and we can discuss. 

Hi Lauren, I would suggest reaching out to a flooring installation expert. Is your the unit you are renovating a walk up or a newer construction building? Are the floors sloping at all? If so, I would suggest 1/4-1/2 inch subfloors as a sound barrier and to strengthen the flooring. Any other questions, feel free to DM me. Erik

Hey Joe,

I am an investor and I work in Hudson County as well. I own property in Jersey City, but I am familiar with areas like Union City and North Bergen as well. I'd be happy to discuss different areas and the different transportation options that could make sense for you as a first time investor. Send me a direct message and we can talk a bit further!

Best,

Erik

Hey Rocco,

I'd be happy to discuss the Jersey City market as well as other opportunities in Hudson County. I'm an investor in the area, primarily Jersey City, but I work in the area as well so I'm very familiar with the trends of each neighborhood. Send me a private message and we can discuss!

-Erik