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All Forum Posts by: Lucas Polski

Lucas Polski has started 0 posts and replied 4 times.

Post: Investing in Newark?

Lucas PolskiPosted
  • Investor
  • Jersey City, NJ
  • Posts 4
  • Votes 2
Originally posted by @Eric D.:

First-time investor here, thinking of buying a condo in Newark to rent out. I am contemplating the area around the Broad Street Station and University Heights or a little more east near the waterfront. What are people's thoughts of this area? Or other areas in Newark for someone like myself? I honed in on this area because it is near the train, a Whole Foods is in development .... 

I do not want to have to rehab a house, which I have no experience, or get myself in over my head. I want to start off nice and easy with a low maintenance condo that I can buy and hold as a rental property. I was thinking of teaming up with a realtor, basically using the MLS.

Any insights appreciated! Thanks! 

 How did it go @Eric D?

Post: Investing in Newark, NJ

Lucas PolskiPosted
  • Investor
  • Jersey City, NJ
  • Posts 4
  • Votes 2

How did it go @drewslew ?

Very ibteresting in rent control in Newark also. I have a similar situation, a 3 fam house. Does anyone know if it's delivered vacant at closing is it still rent controled? How would I know what the previous rents were?

Post: Newark NJ Investing

Lucas PolskiPosted
  • Investor
  • Jersey City, NJ
  • Posts 4
  • Votes 2

@ Marc Weisi it is on Norwood St., between S Orange Ave and 18th Ave. Would you consider that a decent block? The current rents there are extremity low $600-700, I do not know much about his area.

Post: Newark NJ Investing

Lucas PolskiPosted
  • Investor
  • Jersey City, NJ
  • Posts 4
  • Votes 2

Hello,

Let's try to revive this old thread.

I am new to both Newark and REI so I'd appreciate any pointers. I spend some time in most if not every area and saw about 20 30 properties. Of course my knowledge did not scratch the surface. I am interested mostly about which parts of the city or better/worse.

I am closing two deals:

- 4 family in Weequahic

- 3 family on West Side near Home Depot

- I also have an opportunity for 4 family in Lower Vailsburg - This is the one I am worried the most. The street looks decent, but current renters have extremely low rent. I saw other blocks in this neighborhood which were much worse ( and I wouldn't buy there)

@Ibrahim Hughes  - I would like to pick your brains on that if possible. Will be happy to share more info

@ Omar Ismael - you seem knowledgeable about the area, any thoughts would be really helpful.

Of course I hope to hear from any and all.