@Anthony Vigilante
Hi Anthony, I have analyzed a good amount of properties in Jersey. The hottest markets in Jersey right now for investors are the ones you mentioned (Newark, Trenton, Camden). But you also have to question what strategy those investors are using in those areas. Investors in Newark for example might be mostly going with buy and hold or BRRRR, whereas investors in Trenton and Camden might fix and flip.
You also have to familiarize yourself with the different neighborhoods. As you know already all of those cities/towns have great colleges and hospitals nearby, but also have some rough neighborhoods. That being said there's a lot of growth going on in all three of those places. Camden is probably lagging the other two (also probably has the most room for growth, just on what timeline).
Middlesex County has higher price points so it'll probably be much harder to find a cash flowing property there.
If you are already sure that you want to buy and hold, I'd say next step is to figure out if you want to go with multi families, single families, or condo/townhomes. I'll tell you from experience, in Jersey HOAs are likely to destroy any chance of you cash flowing. Also depending on location, I've had clients whose HOA has more than doubled in 20 years. Multi families in Jersey are harder to come by. You'll find them in shore towns and cities, then the rest are scattered about.
Next, just analyze deals until you figure out where your numbers need to be. Once you do this you'll be able to save time because you'll already have an idea of what search criteria you are out for.
Then get out and drive some of the areas where you find your numbers can potentially work. Pictures don't always tell the whole story. You'll come across areas where you'll cash flow but get no appreciation, and areas that'll appreciate but won't cash flow. I personally like a hybrid with both.
You want this all figured out ahead because Jersey is a battleground right now. You're competing with buyers looking for their forever home and investors, so if you hesitate for a couple hours, good chance that house will be under contract.
Just to point you in the direction of some other places...check out the outskirts of Trenton, Gloucester City, Haddonfield, Cherry Hill, Keyport, South Amboy, Piscataway, and Franklin Twp. If I can help further feel free to contact me.
Randy
